Managing Complex Hospitality Transactions
Starwood Hotels & Resorts is one of the largest hotel and leisure companies in the world, with luxury and upscale properties located around the globe. When the company wanted to sell the membership interests it held in the Boston Park Plaza Hotel to its joint venture partner and terminate the partnership, it turned to Holland & Knight's Hospitality, Resort and Timeshare Team to represent it throughout the complex transaction.
Members of our team, including attorneys concentrating in hospitality, real estate, litigation, labor and employment and bankruptcy law, worked in close collaboration to address all of the issues associated with the sale, which was complicated by complex cross indemnities, transitioning of hotel operations from Starwood to the new owner/manager, union issues and contentious negotiations between the joint venture partners. In addition to addressing these issues, our representation included drafting and negotiating the membership interest purchase agreement, termination of the management agreement and all ancillary documents and facilitating the closing and transition of the management of the hotel to another manager.
This transaction required a law firm with the resources to adeptly handle issues spanning a wide range of legal areas in a seamless fashion. Holland & Knight had the requisite experience, knowledge and resources and helped Starwood close the high-profile transaction in a proficient manner.