28 July 2004 All today’s legal news, law firm announcements, legal research at LAWFUEL
Allen & Overy advised Whitbread PLC on the purchase of the Premier Lodge budget hotels business from The Spirit Group.
The consideration was £505m for the Premier Lodge estate of 132 hotels and
9 pipeline sites and a further £31.2m for 19 co-located pub restaurants.
Premier Lodge will merge with Travel Inn and will operate under a new
brand, Premier Travel Inn, cementing Travel Inn’s position as market
leader in the UK.
Commenting on the deal, corporate partner Don McGown said:
“We are pleased to be part of such a strategically important investment
for Whitbread which has helped secure their position as the number one
player in the budget hotel sector.”
“This is an excellent example of the depth and expertise our real estate
practice can bring to help clients in closing complex deals where the
principal value is real estate assets,” added real estate partner Robert
Porter.
The Allen & Overy team was led by corporate partner Don McGown assisted by
associate Alan Chiswick. Real estate partner Robert Porter and associate
Ben Taylor advised on property aspects and partner Colleen Keck, partner
Colin Pearson and associate Chris Kangis advised on the commercial matters
for the continuing relationship between the parties and trademark matters.
For further information, please contact Jo Shepherd
(jo.shepherd@allenovery.com) in London on +44 (0) 20 7330 2195 or on +44
(0)7771 896 290.
