Ritch, Mueller, Heather y Nicolau and Robles, Lazo, Gallardo & Valdez have advised on the deal
Grupo Hotelero Santa Fe, S.A.B. Of C.V. (BMV:HOTEL) (“HOTEL” or “the Company”), one of the leading companies in the hotel industry in Mexico, announces the acquisition and expansion of two hotels that will be rebranded into Krystal Grand® 5 star hotels, with a total of 933 rooms under the All-Inclusive model. The transaction is expected to close in the following days once the contractual conditions have been met. The Krystal Grand® brand will grow from 2 to 4 hotels, and the Company will grow 16% in number of operated rooms. The hotels are located in Los Cabos and Nuevo Vallarta, two of the most important resorts destinations in Mexico, which are recognized internationally as top tourist destinations with significant connectivity to the main North American and European markets. The total value of the assets is US$119.8 million, approximately half of which will be financed with debt. HOTEL will contribute US$29.8 million which represents 50% of the equity and will consolidate both hotels’ operations. The other 50% of the equity will remain with the group of private Mexican investors who currently own the hotels.
Ritch, Mueller, Heather y Nicolau, S.C. has advised Grupo Hotelero Santa Fe, S.A.B. de C.V. with Rodrigo Conesa Labastida, Gabriel Eduardo Torres Escoto, Allan Stierle Córdova and Tomás Antonio Bayo Canalizo.
Robles, Lazo, Gallardo & Valdez, S.C. has advised ICD Sitra, S.A. de C.V. with José María Gallardo (Picture) and Paloma Robles Lomelin.
Involved fees earner: José María Gallardo – Robles, Lazo, Gallardo & Valdez; Paloma Robles Lomelin – Robles, Lazo, Gallardo & Valdez; Rodrigo Conesa Labastida – Ritch, Mueller, Heather y Nicolau, SC; Gabriel Torres Escoto – Ritch, Mueller, Heather y Nicolau, SC; Allan Stierle Córdova – Ritch, Mueller, Heather y Nicolau, SC; Tomas Antonio Bayo Canalizo – Ritch, Mueller, Heather y Nicolau, SC;