In the summer of 2013, Goodwin Procter attorneys in the firm’s Hospitality & Leisure Practice advised leading national hotel chains and real estate investment trusts on more than 13 transactions with a combined value in excess of $800 million. The team represented clients such as Fairmont Hotel & Resorts, Hyatt Corporation and Kimpton Hotel & Restaurant Group, as well as real estate investment firm Cornerstone Real Estate Advisers and Sunstone Hotel Investors (NYSE: SHO). Select recent transactions include:
Fairmont Hotels & Resorts
- Represented Fairmont Hotels & Resorts in its joint venture with Carey Watermark Investors whereby CWI acquired an interest in the Fairmont Sonoma Mission Inn & Spa in Sonoma Valley. Fairmont acquired the hotel in 2012 from a prior joint venture partner. The hotel has 226 rooms, a world-class spa, and recently completed a renovation of the lobby and restaurant.
- Represented Hyatt in connection with the sale of the Hyatt Regency Santa Clara, a 501-room hotel located in Santa Clara, Calif. near the new San Francisco 49ers football stadium, to a subsidiary of Inland American Lodging Group, Inc.
- Represented Hyatt in the sale of the Andaz Napa and Andaz Savannah hotels to subsidiaries of Inland American Lodging Group, Inc. The Andaz Napa includes 141 rooms and is located in the heart of the retail district in Napa, Calif. The Andaz Savannah, located in Savannah, Ga., has 151 rooms.
- Represented Hyatt in connection with the sale of the Hyatt Fisherman’s Wharf, a 313-room hotel in San Francisco, Calif., to a subsidiary of Chesapeake Lodging Trust.
- Represented Hyatt in connection with the sale of the Hyatt Santa Barbara and adjoining properties to a subsidiary of Chesapeake Lodging Trust. The hotel and adjoining properties, located in California, include 200 rooms.
Kimpton Hotel & Restaurant Group
- Represented affiliates of Kimpton in the sale of two boutique hotels in San Francisco to an institutional investor. The two hotels, with 271 rooms combined, will continue to be operated by Kimpton.
Cornerstone Real Estate Advisers
- Represented Cornerstone Real Estate Advisers in connection with the acquisition of the Copley Square Hotel from CapStar Hotel Co. Located in Boston, Mass., the 122-year-old hotel includes 143 rooms and was renovated in 2008.
- Represented Cornerstone Real Estate Advisers in connection with the sale of the 236-room Serrano Hotel to LaSalle Hotel Properties. The hotel is located in San Francisco, Calif. and will continue to be operated by Kimpton Hotel & Restaurant Group.
Sunstone Hotel Investors
- Represented Sunstone Hotel Investors in its acquisition of the 1,053-room Boston Park Plaza hotel in Boston, Mass. The hotel, a landmark in Boston, will remain unbranded.
The team of Goodwin attorneys advising on the transactions was led by Boston partner Chris Barker (Fairmont), San Francisco partner Teresa Goebel (Hyatt, Kimpton), and San Francisco partner Ben Tschann (Fairmont, Cornerstone, Sunstone). The team also included associate Wendy Rutter (Boston).
Goodwin Procter’s Hospitality & Leisure practice has long represented some of the most prominent names in the hotel industry, beginning in the 1930s with the firm’s representation of the owners of the Copley Plaza Hotel in Boston and their company, the Sheraton Corporation of America. Goodwin’s Hospitality & Leisure practice was ranked in 2013 by Chamber USA and Legal 500 in the United Kingdom. The practice was also recognized by Legal 500 in the United States.