Hogan Lovells Advises Constellation Hotels on £301.5M Park Lane Acquisition
10 May 2013
LONDON, 10 May 2013 - Hogan Lovells has advised Constellation Hotels on the £301.5 million acquisition of the prestigious InterContinental Hotel, Park Lane, London.
The Middle Eastern private investment group also purchased the freehold interest in the property from The Crown Estate for £98.5 million.
Constellation Hotels has granted the InterContinental Hotels Group a 30 year management contract on the hotel, with three ten year extension rights, resulting in a total possible contract length of 60 years.
The Hogan Lovells team advising Constellation Hotels was led by London real estate partner Chris Berry. He was supported by: partner Jackie Newstead, counsel Anita Zacharias, senior associates Jill Pittaway, Ed John and associate Jessica Hickson; corporate partners Nigel Read and Nicola Evans and associate Hazel Peck; employment Of Counsel Chris Wellham and associate Sarah Parkin; pensions Of Counsel Nicola Rondel; construction partner Gillian Thomas and senior associate Alistair Cowling; competition Of Counsel Helen Bignall; tax partner Michael Conlon and associate Andrew Waddell; finance Of Counsel Katie Gill; and IP Of Counsel Charlie Winckworth and associate Ben Robson.
Commenting on the transaction, Chris said:
"This is a high profile, high value strategic transaction for our client that secures the future of this landmark London hotel for potentially the next 60 years".