March 5, 2019 (New York) – International law firm Proskauer advised longtime client Accor in its recent acquisition of Tribe, Australia’s first integrated modular hotel brand. The deal represents a further expansion of the Firm’s relationship with Accor and the reach of our global Private Equity Real Estate Group, which recently has completed brand-level deals in North and South America, Asia and Australia.
Proskauer has represented Accor for more than 22 years in numerous transactions totaling more than $10 billion, including its $2.9 billion acquisition of FRHI Hotels and Resorts; the sale of Motel 6 and related U.S. economy hotel operations for $1.9 billion; the purchase of Red Roof Inns for $1.1 billion, as well as the later sale for $1.32 billion; more than $1.5 billion in sale-and-management-back and other transactions in the U.S. for Sofitel and Novotel properties; its strategic alliance with Huazhu Hotels Group to create a major hotel company in China; its acquisition of the management agreements of hotels owned or managed by Brazil Hospitality Group; its long-term strategic partnership with Singapore-based Banyan Tree Holdings; its acquisition of 21c Museum Hotels; its agreement to invest in sbe Entertainment Group; and its cooperation agreement with Ctrip.
Proskauer’s hospitality lawyers are at the cutting edge of the legal and commercial trends transforming the industry, and regularly work with clients on innovative strategies as they expand their operations. We are one of the only law firms to have senior partners with extensive experience in hospitality transactions on the ground in the U.S., Europe and Asia, which provides our clients with seamless global coverage.
The Proskauer team advising Accor on the Tribe deal was led by partner Yuval Tal, who co-heads our Lodging & Gaming Group and manages our Hong Kong and Beijing offices, and associate Vivian Ho, and included New York-based partner Jeff Horwitz, who co-heads our PERE and Lodging & Gaming Groups.