LAWFUEL – Law News Network – Corporate and commercial law firm SJ Berwin LLP has advised Hilton Hotels on the sale of its two Metropole Hotels in Birmingham and London for £417 million as part of Hilton’s asset sale programme. Contracts have been exchanged with Dr Edward Wojakovski’s family owned Tonstate for the 1,054 room Hilton London Metropole and the 794 room Hilton Birmingham Metropole. Hilton will retain long term management contracts on both hotels.
The SJ Berwin team was led by Corporate Real Estate partner David Ryland who advised on structuring, commercial and real estate issues; the team included partner Adrian Brettell who advised on tax and associates Patrick Ryan and Stephen Marshall who advised on real estate issues. David Ryland is widely regarded as one of the leading hotel lawyers in the country.
This is the latest of a string of transactions, which SJ Berwin has advised Hilton on in the past couple of years including the long term management agreement with Quintain Estates & Development on a new 400 bedroom hotel in Wembley, the sale of 15 hotels to Managed Hotels Unit Trust for £382.4 million and the sale of 11 hotels to a joint venture vehicle Stardon UK Ltd for £111 million.
Gary Paddison of DLA Piper advised Tonstate.