Ennismore — the fastest-growing lifestyle hospitality company and joint venture with Accor, which holds a majority shareholding — has announced a long-term partnership with Cain International (Cain) — the privately held investment firm — to drive forward the global expansion of the iconic hotel brand Delano. The partnership will see Cain acquire a minority stake in the Delano brand, collaborate with Ennismore to support Delano’s global growth ambitions and deliver its current expansion pipeline, including Seoul, Istanbul, and Cartagena, with several other locations under negotiation. As part of the partnership, the iconic Delano South Beach will undergo a substantial renovation and reopen as the brand’s flagship location. Ennismore will continue operating all existing and future Delano properties globally.

Latham & Watkins LLP advised Cain in the transaction with a deal team led by New York partner and Global Co-Chair of the firm’s Real Estate Practice Michelle Kelban and Century City partner and Global Co-Chair of the Hospitality, Gaming & Leisure Industry Group Meghan Cocci, with associates Aida Vajzovic, Kimberly Legate-Ford, and Yerin Yang. Advice was also provided on intellectual property matters by New York partner Jeff Tochner and New York counsel Carrie Girgenti; on tax matters by New York partner Alan Kimball, with associate Christina Mcleod.