Hogan Lovells advises the HR Group on the sale of seven hotel properties to Pandox AB
Led by Frankfurt partner Matthias Jaletzke, Hogan Lovells has advised the HR Group on the sale of a hotel portfolio consisting of seven hotel properties in Stuttgart, Eschborn, Kelsterbach, Neuperlach, Bad Neuenahr, Sulzbach und Schweinfurt to the Swedish Pandox AB, one of the leading owners of hotel real estate in Northern Europe. The transaction value amounts to approximately EUR 290 million.
Hogan Lovells advised the HR Group on the preparation and negotiation of the transaction agreements as well as on all financial issues. In 2019, the HR Group already sold a hotel portfolio consisting of three hotel properties to Pandox AB.
The HR Group, a large German hotel operator, will retain a minority stake in the hotels and will continue to operate them under long-term leases under the brands.
The completion of the transaction is subject to antitrust clearance and expected to close in the fourth quarter 2019.
Hogan Lovells for HR Group
Dr. Matthias Jaletzke (Partner), Simon Theis (Associate), Alexandra Willm (Associate), Jennifer Hofmann (Trainee) (all Corporate/Private Equity, Frankfurt);
Dr. Katlen Blöcker (Partner) (Banking & Finance, Frankfurt).
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