11 January 2011
Leading global law firm Mayer Brown advised Westmont Hospitality Group on the €101m acquisition of the InterContinental in Prague from, Strategic Hotel & Resorts Inc.
InterContinental Prague is a five star, 372 room business hotel designed by renowned Czech architect Jan Boczan and centrally located on the banks of the Vlatva.
Westmont Hospitality Group is one of the largest privately-held hospitality organisations in the world. With an ownership or operational interest in over 500 hotels across three continents Westmont has a portfolio ranging from budget and apart-hotels to mid-market business and large conference hotels to boutique hotels and luxury resorts.
Mayer Brown lawyers advised on the transaction which was structured as a share acquisition. The bulk of the consideration was paid by way of Westmont Hospitality assuming the seller's existing bank debt.
The Mayer Brown team was led by Real Estate partners Peter Sugden, Andrew Sharples and Nigel White with support from associates Caroline Humble, Sam Webster, Dharini Collins and Nanak Keswani.
Peter Sugden, head of Mayer Brown's London Real Estate group said: " This acquisition represented another significant hotel transaction for Mayer Brown's global hospitality and leisure group in 2010. We were particularly pleased that it was for a client of the quality and status of Westmont ."
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