HOSPITALITY QUICK FACTS

Venable represents many of the largest hospitality companies in the world.

Counsel to one-third of publicly held REITs in America.

 

HONORS AND AWARDS

Chambers USA

Real Estate Practice and Lawyers ranked nationally, and in Washington, DC, Maryland, and Virginia

U.S. News / Best Lawyers

Real Estate Practice and Lawyers ranked nationally, and in New York, Maryland, Washington, DC, and San Francisco

4 lawyers elected to the American College of Real Estate Lawyers

 

Real Estate in Hospitality



Our hospitality real estate team negotiates sale and purchase agreements on billion-dollar-plus international projects, as well as single properties. We have extensive experience in structuring management agreements of all types, as well as in restructuring ownership/management relationships for both independent managers and major brands. Our experience includes the following representations:

  • A leading operator of food and beverage concessions in the U.S. and Canada with more than 200 outlets in 29 airports, in negotiating leases with airports and municipalities, and subleases with affiliates and other joint venture partners.
  • A leading hotel property management company in a complex, $1.7 billion hotel portfolio transaction, which was at the time, the largest such transaction to date. The deal included multiple sellers, lenders, and servicers, and nearly 30 loans that required defeasing.
  • A multinational diversified hospitality company in a series of sales of its hotels valued at over $800 million in New York, London and Miami Beach.
  • The seller, in the $55 million sale of the iconic Manhattan hotel, the Midtown Hotel Elysee, home to The Monkey Bar, and a rich New York City history.
  • The lender on a mixed-use resort development project in Cabo San Lucas, Mexico. We negotiated a master resort declaration to address development, construction, operation, and management covenants, conditions, restrictions, and easements, and we created a trust instrument of ownership to allow enforcement remedies for failed construction milestones and operating covenants.
  • One of the world's largest CMBS investment and management experts, CWCapital, in connection with portfolio sales of hotels that included a mix of brand-managed full service and limited service franchised hotels.
  • The controlling member and lead equity investor in a recapitalization of a national fast casual restaurant brand, which has more than 25 locations throughout the United States, including Los Angeles, New York and San Francisco. The seller, as co-counsel, in connection with the sale of the SLS Hotel at Beverly Hills, a 297-room lifestyle hotel which includes The Bazaar by Jose Andres.
  • The hotel owner/borrower, as co-counsel, in obtaining a construction loan facility for the construction and development and the refinancing of the permanent financing facility, for SLS Hotel South Beach.
  • SBE, as co-counsel, in a refinancing of its prior credit facility that was used to redeem a former minority investor, retire existing debt, and fund working and growth capital.
  • An owner in connection with a restructuring and a repositioning of a hotel in San Juan, Puerto Rico, which includes the shuttering of a casino, the addition of two new retail tenant leases and the acquisition of the loan (including deed in lieu) from the lender.
  • OTO Development in the acquisition and financing of multiple development sites in Manhattan, in the Times Square and Penn Station areas.
  • A private equity company‚Äôs hotel division in negotiating agreements for procuring architecture, engineering, furniture, fixtures, equipment, construction, construction management, and interior design services for its nationwide portfolio.
  • A leading hotel property management company and its affiliates, in the sale of a 16-hotel portfolio, valued at nearly $300 million.
  • Strategic Hotels & Resorts, Inc. ("BEE"), as Maryland strategic counsel, in connection with its recent merger with and into an affiliate of a major private equity firm, in a transaction with a total value of approximately $6 billion.