Baker McKenzie advised D.H. Deutsche Hospitality Ltd. on the sale of all shares in Steigenberger Hotels AG ("Company") to the Huazhu Group (“Huazhu”). Huazhu is a leading multi-brand hotel group with a strong presence in China and listed on Nasdaq (NASDAQ: HTHT).
Baker McKenzie advised D.H. Deutsche Hospitality Ltd. on all legal aspects of the transaction.
Based in Frankfurt, Germany, the Company is the umbrella that holds a unique and varied portfolio including the five prestigious hotel brands Steigenberger Hotels & Resorts, MAXX by Steigenberger, Jaz in the City, IntercityHotel and Zleep Hotels.
Christian Vocke, co-lead partner of the transaction commented: “This is a significant transaction we advised on for our client Deutsche Hospitality Ltd. The transaction highlights our expertise in the hospitality industry combined with our track record on advising on China-related transactions”.
The Company and its subsidiaries operate 118 hotels with 36 hotels under development in 19 countries on three continents. In 2019, the almost 90-year-old hotel group announced a worldwide expansion plan to reach 250 hotels by 2024.
Baker McKenzie's German Corporate/M&A team regularly advises on large international M&A transactions, including, most recently, METRO on its strategic partnership with the Chinese retailer Wumei Technology Group, Evonik on the sale of its Plexiglas business to PE Investor Advent International, Bayer on the sale of its majority stake in the chemical park operator Currenta, and HGZN on its acquisition of NIMAK Group.
Baker McKenzie's German Real Estate / HRT team lead by Ulrich Hennings, Berlin, advises international hotel operating companies in connection with hotel lease and management agreements as well as on transactions for more than twenty years. The acquisition of a combination of the Grand Hyatt and Maritim Hotel in Berlin by Al Rayyan Tourism & Investment Co. on the sale of a portfolio of 10 "balladins hotels" by the French Dynamics Hotels Group and on the purchase of a joint venture participation by Radisson in "prizeotel" are such examples.
Lead: Corporate/M&A: Dr. Christian Vocke (partner, Frankfurt), Dr. Ulrich Hennings (partner, Berlin), Dr. Taher Helmy (partner, Cairo).
Real Estate: Dr. Florian Thamm (partner, Frankfurt), Dr. Daniel Bork (senior associate, Dusseldorf), Nadine Uhrner (associate, Frankfurt)
Corporate/M&A: Christian Atzler (partner, Frankfurt), Dr. Thomas Gilles (partner, Frankfurt), Hyun Ah Zi (associate, Frankfurt), Dr. Markus Moertel (senior associate, Frankfurt), Esther Xiang (associate, Frankfurt),
Tax: Christoph Becker (partner, Frankfurt)
IP: Dr. Rembert Niebel (partner, Frankfurt), Dr. Markus Hecht (senior associate, Frankfurt)
Antitrust: Dr. Christian Burholt (partner, Berlin)
International Commercial & Trade: Anahita Thoms (partner, Dusseldorf)
Employment: Dr. Matthias Köhler (senior associate, Berlin)
International Baker McKenzie offices: Amsterdam, Bahrain, Brussels, Cairo, Dubai, Hong Kong, Istanbul, London, Shanghai, Vienna, Zurich