Schoenherr, alongside Jones Day, advised a consortium led by Goldman Sachs and Highgate Hotels, a leading hospitality investment and management company, in its acquisition, acquisition financing, and debt restructuring of the K K Hotels Group, which owns and operates a portfolio of 10 boutique hotels located in leading cities across Europe.
Closing of the transactions occurred on 1 December 2015 after attaining all regulatory approvals.
K K Hotels Group’s portfolio consists of four and four-star superior hotels which have a total of 1,200 rooms and are operating under the K K brand in the city centers of London, Paris, Barcelona, Munich, Vienna, Prague, Budapest, and Bucharest. Headquartered in Salzburg, the K K Hotels Group was founded in 1961 by the Koller family, which is selling its 100% shareholding in the group. The hotels’ management platform is also included as part of the sale.
Founded in 1988, Highgate Hotels, L.P. is headquartered in Dallas, Texas with additional corporate divisions in New York and London. The company is a distinguished industry leader in the management and marketing of hotels across the hospitality spectrum, and since inception has owned, individually and with its partners, over 80 distinctive properties.
The Schoenherr team advising Goldman Sachs and Highgate Hotels on matters of Austrian law was led by Christian Herbst (partner, Corporate/M&A). The team further consisted of Maximilian Lang (attorney, Corporate M&A), Stefan Kühteubl (partner, Labour and Employment), Bernd Rajal (partner, Regulatory), Christoph Haid (partner, Competition), Ayla Ilicali (attorney, Real Estate), Teresa Waidmann (associate, Labour and Employment), Serap Aydin (associate, Real Estate), as well as Michael Woller (attorney, IP).
Jones Day London served as lead counsel to Highgate Hotels and Goldman Sachs. Additionally, the Jones Day team consisted of lawyers from their offices in Düsseldorf, Frankfurt and Munich.
The sell-side was represented by Taylor Wessing enwc (Vienna) and Ferner Hornung & Partner (Salzburg). The sellers were also advised by JLL Hotels & Hospitality Group and Credit Suisse.