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Press Release

Appetite for UK hospitality sector remains buoyant

11/01/2021

Locations

United Kingdom

Fieldfisher acts for global hotel management company Interstate Hotels & Resorts on new management appointment for 31 UK hotels

There are signs that the UK hospitality sector remains attractive to investors and operators despite the effects of the covid-19 pandemic. European law firm Fieldfisher recently acted for Interstate Hotels & Resorts, the international division of the US hotel operator, Aimbridge Hospitality, on a complex transaction to appoint Interstate as the new management company for Jupiter Hotels’ UK portfolio of 31 UK properties.

The portfolio is made up of both Mercure and Holiday Inn branded hotels, as well as two independent properties and is co-owned by Fico Holding and S Hotels & Resorts.

Alex Campbell led the Fieldfisher team in the UK on the matter, working closely with Eckert Seamans, the lead counsel for Interstate in the US. Mr Campbell advised Interstate on the English law aspects of the hotel management agreement arrangements. His colleague, Ramatu Banga advised on real estate matters, with Ranjit Dhindsa and David Lorimer advising on staff employment matters and Hazel Grant advising on data privacy matters.

The transaction involved Interstate stepping in as the new management company for all 31 of Jupiter's UK properties. The transaction was particularly complex due to the large number of hotels involved and the signing and closing arrangements, which needed to be completed under covid restriction conditions.

"Despite the challenges that the hospitality sector has faced over the last year, it is heartening to see that investors and management companies remain confident in hotels and their potential for strong returns," said Mr Campbell.

"As the sector recovers from government enforced restrictions, we anticipate greater interest in the UK's hospitality sector from management companies and investors in the year to come."

Nicholas Northam, executive vice president international at Interstate Hotels & Resorts said, "The 31 properties further assert our position as a global leader in hotel management and we are pleased to strengthen our UK portfolio at the end of a challenging year for our industry. Fieldfisher were a key partner in this transaction, offering support and a wealth of advice across all aspects."

ENDS
Notes to editor about Fieldfisher
Fieldfisher is an enterprising European law firm built around people. We have market-leading practices in our four key sectors of energy and natural resources, technology, financial services and life sciences. Our network spans over 1500 people across 25 international offices, all of which offer clients highly commercial, pragmatic advice.

We are based in Belgium, China, France, Germany, Italy, Luxembourg, the Netherlands, Ireland, Spain, the UK and the US.

Fieldfisher was named as a highly commended firm in the European FT Innovative Lawyers Awards 2019.

For media enquiries regarding Fieldfisher, please contact:
Jonathan MacPherson; Senior PR & Communications Manager
jonathan.macpherson@fieldfisher.com

Notes to editor about Interstate Hotels & Resorts
Interstate Hotels & Resorts is the International Division of leading US-based global hotel management company, Aimbridge Hospitality.

In December 2020, Interstate was appointed to manage Jupiter Hotels’ UK portfolio, taking its pan-European portfolio to 144 properties, inclusive of committed pipeline, across the UK, western Europe, eastern Europe, and Russia/CIS.

Brands managed by Interstate include Autograph, Novotel, Adagio, Courtyard, Hilton Garden Inn, Hyatt Place, Radisson, Residence Inn, Staybridge, Mercure, Crowne Plaza, Hotel Indigo, Holiday Inn and Holiday Inn Express, Luxury Collection, Marriott, Renaissance, AC Hotels by Marriott, Hilton, Hampton by Hilton and ibis Hotels.

Interstate’s portfolio also comprises a number of independent hotels, restaurants and spa and health brands, including Marco Pierre White, Novelli at City Quays and Mamucium.

For media enquiries regarding Interstate Hotels & Resorts, please contact:
Sidekick Public Relations Limited
0114 227 0006 or email info@sidekickpr.com
 

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