Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Leonardo Hotels on its agreement to acquire the Zien group and its 12 hotels in the Netherlands from affiliates controlled by KSL Capital Partners LLC and their partner, Garden Capital Group. The acquisition will grow Leonardo Hotels’ portfolio to 28 hotels in the Benelux region. The transaction is expected to close in the second quarter of 2024 and is subject to customary closing conditions.
Leonardo Hotels was founded in 2006 as the European arm of the Fattal Hotel Group, and has since grown into a leading name in the hospitality industry. With a diverse portfolio consisting of Leonardo Hotels, Leonardo Royal Hotels, Leonardo Boutique Hotels, Leonardo Limited Edition Hotels and NYX Hotels, it owns and manages over 300 hotels across 21 countries.
The Freshfields team was led by partner Victoria Hills and included partner Harald Spruit and senior associates Moray Macdonald and Emelde Rubaij-Bouman. They worked alongside the Leonardo legal and deal teams to deliver the transaction.
Victoria Hills, who leads the hotel investment practice at Freshfields, commented: “It is a privilege to be part of the Leonardo team to deliver this statement transaction for the group. Working with Tamar Cohen and the rest of the deal team was a great experience and the fact that they entrusted us with this significant deal is testament to our team’s deep European hotel investment expertise and collaborative style. It is good to see deals like this, which are significant not only for the Dutch hotel industry but the wider European hotel investment market, return after recent turbulent times.”
Tamar Cohen, General Counsel of Leonardo Hotels, added: “This acquisition from KSL Group marks a significant milestone for Leonardo Hotels as we continue to expand our presence in the Netherlands. The strategic addition of the Zien group’s hotels enhances our portfolio and strengthens our position in the market. Over the past few months, the Fattal Group has successfully executed numerous key deals, further demonstrating our commitment to growth and excellence. We are grateful for the exceptional support provided by the Freshfields team, led by Victoria Hills, throughout this transaction. We extend our appreciation to KSL team for their good collaboration throughout the negotiation process.
