DLA Piper has advised Blackstone Real Estate on the acquisition of Village Hotels, a hotel owner, operator and developer, from affiliates of KSL Capital Partners. The deal, valued at around GBP800 million is currently one of the largest transactions in the UK’s real estate and hospitality sector this year.
Village Hotels owns and operates 33 well-located assets in large regional cities and suburban areas across the UK. Representing 4,400 hotel keys, it operates as an “all under one roof” leisure destination, offering traditional full-service hotel stays, fitness clubs, food and beverage outlets and co-working spaces. These include the Village Health & Wellness Club and VWorks. It employs over 4,500 staff and caters to domestic business travelers, tourists and large groups.
Blackstone is a leading investor in real estate and currently has USD339 billion of investor capital under management. It is the largest owner of commercial real estate globally, owning and operating assets across sectors including logistics, residential, hospitality and retail.
DLA Piper partners, Jo Owen and Bonnie Calnan, led a 40 strong team from DLA Piper’s offices across the UK working alongside Wheatly MacNamara and the Simpson Thacher & Bartlett team on this significant transaction.
Bonnie Calnan, DLA Piper partner, commented “Having access to the breadth and depth of our real estate and hotels sector expertise has been key to clarify the complexities inherent in such a large deal. This has allowed us to provide the seamless counsel for which our clients have become accustomed and to bring Village Hotel’s unique and innovative offering into Blackstone’s portfolio.”
Jo Owen, DLA Piper partner, added: “It was a privilege to partner with Blackstone again on this significant deal. They are long-term believers in the UK leisure sector, driven by an underlying focus on providing high-quality experiences and services for consumers. We look forward to providing them with the ongoing support that will help them achieve their boldest ambitions in the future.”
