Holland & Knight Represents Hyatt Hotels in Acquisition of The Royal Palms Resort in Phoenix
NEW YORK (July 13, 2016) – Holland & Knight represented Hyatt Hotels Corporation in its $88 million acquisition of The Royal Palms Resort and Spa located in Phoenix, Ariz. The property was purchased in an all-cash deal from Commonwealth Royal Palms Holding Corporation and Commonwealth Royal Palms Operating Corporation, affiliates of Lowe Enterprises Investment Management, Inc. The transaction was finalized on July 12.
The 65-acre resort, which was developed in 1929 and is known for its Mediterranean, Spanish colonial architecture, will become affiliated with The Unbound Collection by Hyatt, a collection of unique and historic hotels.
Holland & Knight partners Joe Guay and Allison McCarthy represented Hyatt in the deal. Mr. Guay and Ms. McCarthy are members of Holland & Knight’s Hospitality, Resort and Timeshare Group.