Preparing your hotel company for sale
Selling a hotel company is no small project, whatever the size of the hotel. Firstly, the commercial terms of the deal must be agreed with the purchaser and the sale and purchase agreement and other related documents will be much negotiated between the parties (and their solicitors). However, it is the due-diligence process that will often take up most of the seller’s time. The purchaser will, understandably, want to investigate the company and the hotel business that it is buying to ensure that everything is in order, and it is not unusual for legal due-diligence questionnaires to be dozens of pages long.
Sellers often find that so much management time is taken up with responding to these enquiries that the business suffers, which is detrimental to both seller and purchaser. Therefore, it is of great advantage to get your house (or, rather, your hotel) in order in advance, before time becomes of the essence.
Being able to present a clean, transparent and well-organised company will reassure a purchaser and may help to reduce the post-completion warranty risk borne by the seller. Considering the following matters when preparing your hotel company and its subsidiaries for sale will be the first step in achieving a smooth transaction…
If you are registered and logged in to the site, click on the link below to read the rest of the Goodman Derrick briefing. If not, please register or sign in with your details below.
News from Goodman Derrick
News from The Lawyer
Briefings from Goodman Derrick
Supreme Court dismisses police appeal and refuses to allow secret evidence in application for production order against Sky News
R (on the application of British Sky Broadcasting Ltd) v The Commissioner of Police of the Metropolis involves conflicting areas of public interest.
Opinion that employee not disabled under Equality Act does not give employer defence for not making reasonable adjustments
Employers have a duty to make reasonable adjustments for disabled employees. However, this duty only arises where the employer knows the employee is suffering from a qualifying disability.
Analysis from The Lawyer
You don’t have to be a big firm to innovate and thrive in a downturn, as our look at the lower half of the UK 200 shows. We pick 10 inspiring stories
Our latest in-depth analysis of UK M&A legal bills reveals a good performance by smaller firms and success fees on the rise