CMS Sheffield office advises on hotel deal | Yorkshire Deals News
Lawyers from CMS’s Sheffield office advised easyHotel on the €145 million acquisition and financing of eight sites in the Benelux region.
The firm advised easyHotel on the purchase of the hotels from real estate and private equity fund manager Crossroads Real Estate for 145 million euros, as part of its European growth strategy. The operation is fully supported by the majority shareholders of easyHotel, ICAMAP and Ivanhoé Cambridge.
The acquisition includes three hotels in Amsterdam, two in The Hague and properties in Rotterdam, Maastricht and Brussels, adding an additional 793 rooms to easyHotel’s European capacity.
The multi-disciplinary, cross-border CMS team was led by Gareth Saynor, including James Crossman and James Clarke (Corporate); Josie Hearnden, Oliver Ellington, Paradis McCall and Sian Moore (Finance) and was supported by lawyers from the firm’s Spanish offices.
Gareth Saynor, CMS Corporate Partner, who led the transaction, said: “We are delighted to have advised easyHotel on this latest transaction and congratulate them on completing a strategically important acquisition. This is a time of significant change in the hospitality industry, and we are proud to be at the forefront of advising hotel customers facing significant market challenges.
“Our leadership role in this deal further demonstrates CMS’s ability to advise on major international transactions from our offices in Sheffield and Manchester.”
Nichola Buchanan, EasyHotel’s Chief Legal Officer, added: “This is a fantastic milestone for the easyHotel Group as we pursue our growth strategy. CMS have been very supportive throughout this complex cross-jurisdictional project. , and it was a pleasure to have them by our side.”