Brodies advises on major international hotel deals worth in excess of £1 billion
UK and leading Scottish law firm, Brodies LLP, has advised on a number of major international hotel deals in the last six months, worth in excess of £1 billion.
In a landmark transaction, the firm represented hospitality giant Accor in the conclusion of long-term branding and management agreements for the Fairmont Lusail and Raffles Lusail Hotel and Residences in Qatar. The hotels, owned by Katara Hospitality and scheduled to open in 2022, are located in an iconic building in the shape of the crossed scimitar swords which are Qatar’s national seal. The Raffles is intended to be Qatar’s first “six-star” hotel, and the 49 ultra-luxury Raffles Residences will be the first branded residential project in Qatar.
Katara, owned by the Government of Qatar, is one of the largest owners of luxury hotel properties in the world. Brodies had previously represented Accor in connection with its MGallery hotel in Doha, as well as acting for Banyan Tree hotels in negotiation of the management agreements for the new Banyan Tree Doha.
Brodies was also instructed by Luxury lifestyle hotel operator sbe Hotel Group in two transactions. The first will see sbe brand and manage a new Delano resort in Porto Cervo, Sardinia. The resort, being developed by Enma Capital and Quianto Capital, will be the first Delano hotel in Europe and is scheduled to open in 2023. In the second, sbe will undertake a major renovation of the existing Buddha Bar Paris hotel, which will open in 2022 as the first Maison Delano – a new brand conceived to extend the group’s Delano brand into city-centre hotels. The hotel will feature a new food and beverage concept from Michelin 3-star chef Dani Garcia.
In addition, the firm acted for ANT Development, a Russian property developer, in connection with the development of a 32-story SO/ hotel and residential tower in central Moscow, including the negotiations of branding and management agreements with Accor and licensing agreements for the sale and management of the luxury penthouse SO/ Residences.
Closer to home, Brodies continued to support AJ Capital throughout 2020. Following the acquisition of the Rusacks Hotel, St Andrews at the end of 2019 the firm acted for AJ Capital in the acquisitions of the Marine Hotel in North Berwick and the Marine Hotel in Troon.
Robert Asher, partner in Brodies’ hospitality practice, said “The past 18 months have been a monumental challenge for hotel owners and operators. Particularly in such difficult times, it is a privilege to be entrusted with prestigious, international projects and to see acquisitions continue here is Scotland.”