Proskauer represented Accor in the transaction.
Accor executed the sale of a 1.5% stake in Huazhu Group Limited for €239 million. Accor will own a 3.3% stake in Huazhu following the sale.
This transaction is part of the ongoing, strategic alliance between both groups. In 2016, Accor established that relationship and purchased its existing interests in Huazhu. In 2019, Accor closed the $451 million sale of a 5% stake in Huazhu.
Accor is a world-leading augmented hospitality group offering unique and meaningful experiences in 4,900 hotels, resorts, and residences across 110 countries. With an unrivalled portfolio of brands from luxury to economy, Accor has been providing hospitality savoir-faire for more than 50 years.
Huazhu is a leading hotel operator and franchisor, operating more than 5,100 hotels with more than 500,000 rooms as of September 30, 2019.
The Proskauer global deal team advising Accor was led by partner Jeff Horwitz (Picture), co-head of the Private Equity Real Estate Group and Hospitality, Gaming & Leisure Group, and partner Yuval Tal, co-head of the Hospitality, Gaming & Leisure Group and head of the Firm’s Hong Kong and Beijing offices, and included Capital Markets partners Dan Forman (New York) and Peter Castellon (London) and Corporate partner Jeremy Leifer (Hong Kong).
Involved fees earner: Peter Castellon – Proskauer Rose LLP; Daniel Forman – Proskauer Rose LLP; Jeffrey Horwitz – Proskauer Rose LLP; Jeremy Leifer – Proskauer Rose LLP; Yuval Tal – Proskauer Rose LLP;
Law Firms: Proskauer Rose LLP;
Clients: Accor SA;