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Hogan Lovells Advises Ivanhoe Cambridge on European Hotel Portfolio Disposal

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Hogan Lovells has advised Ivanhoe Cambridge on the disposal of a European portfolio of 18 hotels operating under the IHG brands of Crowne Plaza, Holiday Inn, and Holiday Inn Express. 

The 18 hotels are located in Austria (1), Belgium (1), France (1), Germany (11), the Netherlands (2) and Spain (2), and are operated under the IHG brands of Crowne Plaza, Holiday Inn, and Holiday Inn Express.

Ivanhoe Cambridge is a real estate subsidiary of the Caisse de depot et placement du Quebex, one of Canada's leading institutional fund managers, and has total assets of CDN 40 billion across Canada, the United States, Europe, Brazil and Asia. 

This is the second European hotel portfolio disposal on which Hogan Lovells has advised the same company in the past 12 months, following its disposal of four boutique hotels in Paris in April 2013. 

The Hogan Lovells team was led by London corporate Partner Nigel Read, Munich real estate Partner Martin Guenther and Frankfurt real estate Partner Marc Werner, supported by a team of lawyers across eight Hogan Lovells offices. Sylvain Fortier, Ivanhoe Cambridge's Executive Vice-President, Residential, Hotels and Real Estate Investment Funds, commented: "This transaction is in line with our strategy of rationalizing our overall hotel exposure and reinvesting our capital in our core asset classes and in key markets globally. This sale brings to a conclusion a long-term investment for Ivanhoe Cambridge, and we are very pleased with the transaction process.”

 

 

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