DLA Piper has advised HWS Immobilien und Vermögensverwaltung GmbH (HWS), the family office of the Schommartz family, on the acquisition of Le Méridien Stuttgart. The acquisition was carried out jointly with MHP Hotel AG (MHP) by way of a joint venture in which HWS holds a majority stake. As part of the transaction, MHP has signed a long-term lease for the hotel. The vendor of Le Méridien Stuttgart is Union Investment. The parties have agreed not to disclose the financial details of the purchase.
The hotel, centrally located near the middle palace garden in Stuttgart, has 293 rooms. It has been operated by MHP since 2017 and will be modernized in the coming years to meet ESG standards. By acquiring a minority interest in the property, MHP is once again entering into a co-investment and plans to continue operating the hotel as a franchise partner of Marriott International, the world’s largest hotel company, under the Le Méridien brand in the local and international hotel market.
The DLA Piper team was led by partner Dr Florian Biesalski (Real Estate, Frankfurt).
In addition, partner Dr Marie-Theres Rämer (Tax, Frankfurt), counsels Sonja Beier (Real Estate, Frankfurt) and Timo Betjemann as well as associates Paul König (both Corporate/M&A) and Dr Leonard von Bargen (Real Estate; all Cologne) were involved.
