Another Sheraton acquired with DZP’s support

DZP advised a consortium of the private equity funds Benson Elliot Capital Management and Walton Street Capital and the leading hotel group Algonquin on obtaining financing from Bank Pekao SA to acquire the Sheraton hotel in Warsaw. The hotel was purchased on 28 October 2015.

The acquisition of the Sheraton in Warsaw was part of a transaction in which the consortium is to acquire 8 prestigious hotels in Europe of a total value of approx. EUR 420 million: Sheraton in Rome and Warsaw, Westin in Milan and Venice, Pullman in Paris, Méridien Grand Hotel in Nuremburg and Marriot Executive Apartments and Renaissance in Brussels.

Advice during the transaction was provided by lawyers from DZP’s Capital Markets and Financial Institutions Practice, Magdalena Skowrońska, Partner, Paulina Armada-Rudnik, Associate, and Anna Czerwińska, Associate.

This is the second time that DZP lawyers have advised on financing the acquisition of a Sheraton hotel. In 2013 the same team advised on financing the acquisition by the Algonquin hotel group of the Sheraton in Krakow.