Perkins Coie’s Hotels & Leisure industry group has handled virtually every aspect of hotel ownership and operations, helping clients structure transactions so that the interests of all parties— hotel owners, management and lenders—properly align.
Our exposure to a variety of hospitality brands and types of transactions helps our clients maximize the value and marketability of their hotels. We have assisted such leading clients as Rosewood Hotels & Resorts, Strategic Hotels & Resorts, ClubCorp, John Q. Hammons Hotels Management and CWCapital Asset Management. Areas of counsel include:
- Acquiring, developing and rebranding properties
- Negotiating management and franchise agreements
- Financing and managing assets
- Restructuring and workouts
- Bankruptcy and hotel-related litigation
Attorneys in our nationally ranked hospitality practice have advised clients on individual property and portfolio transactions involving hundreds of hotels and major brands across North America, the Caribbean, Europe and Australia, with an aggregate value in the tens of billions of dollars.
Distinguished by having one of the most active hotel bankruptcy and restructuring practices in the country, Perkins Coie has been involved in a wide array of hotel-related litigation, including the landmark RadLAX Gateway Hotel, LLC et al. v. Amalgamated Bank case.
Client Perspective: To what do you attribute your success?
“I think largely it’s having a great team and surrounding myself with great people. Not only my partners at Integrated Capital, but the folks we have relationships with outside of our firm, including our lenders and our attorneys at Perkins Coie. It’s great having relationships with folks we consider the best in the business.“
Ken Fearn | Founder and Managing Partner, Integrated Capital, LLC
Named among the “9 African-American commercial real estate titans who are transforming communities” by Bisnow, January 2016
Comprehensive Transactional Counsel to the Hotel Industry
When advising clients on their acquisitions of hotels, we focus on setting the right terms, managing assets efficiently, financing and refinancing opportunistically, establishing joint ventures, or selling on favorable terms.
As long-term management agreements can affect the value of properties and the ability to market and finance hotels, we also guide clients in negotiating these critical contracts. When asset management issues arise between hotel owners and managers, such as the treatment of rebates and allowances or centralized services chargebacks, Perkins Coie attorneys help clients navigate these matters and develop workable solutions.
Financing Hotel Acquisitions
Financing issues in hotel transactions raise significant complexities. We have negotiated the placement of corporate debt and the issuance of mortgage-backed securities, and we have structured international financing and traditional property-level secured debt. Our attorneys understand how to work with owners, lenders and management companies to get deals done while addressing all parties’ concerns in a timely, cost-effective fashion.
Hotel Restructuring and CMBS Representation
With one of the most active hotel bankruptcy and restructuring practices in the country, our attorneys help clients negotiate new franchise agreements and sell financially distressed hotels. We represent all of the major Commercial Mortgage-Backed Securities (CMBS) special servicers in foreclosure proceedings, deed-in-lieu of foreclosure transactions and loan modifications.
Litigating Hotel Disputes Nationwide
When hotel disputes arise, our clients call upon us to assess litigation positions and to pursue legal action. We have helped clients large and small involved in hotel bankruptcies and reorganizations in both state and federal courts throughout the country, including before the Supreme Court of the United States.
Perkins Coie LLP represents a joint venture of Optima, Inc. and DeBartolo Real Estate Investments, LLC in the development of Optima Sonoran Village.MORE
New Water Park, LLC is the developer of a mixed-use building housing the Loews Hotel Chicago and the North Water Residences.MORE
In 2012, Strategic Hotels & Resorts sought to reacquire the the Essex House Hotel in New York City, which an affiliate had sold to the Dubai Investment Group in 2005.MORE
Established in 1979, Rosewood Hotels & Resorts is a Dallas-based international luxury hotel and resort company known for its distinctive collection of residential-style hotels and legendary resorts. With an eye towards bringing its brand to new global destinations, Rosewood wanted to secure a strategic partner to acquire its management company and five of its hotel properties.MORE
RadLAX Gateway Hotel, owners of the Radisson Hotel at Los Angeles International Airport and an adjacent, partially completed parking structure, obtained a $142 million construction loan to renovate the hotel and complete construction of the parking deck.