Taylor Wessing acts for European Hotels Corporation Limited in US$115 million development of Raffles Resort and Residence at Phang Nga, Thailand
Lawyers Richard Bursby
Taylor Wessing acted for European Hotels Corporation Limited ("EHC"), which has signed an agreement to acquire land on which it proposes to develop a first class Raffles Resort and Residence for a total estimated project cost of US$115 million.
The acquisition was made through a joint venture company, which is 20% owned by EHC and 80% owned by Kingdom Hotel Investment, the listed hotel and resort company chaired by HRH Prince Alwaleed Bin Talal and EHC's joint venture partner in the Four Seasons Hotel in Marrakech.
The proposed Raffles Phang Nga Resort and Residences will start operations in 2009, with 120 rooms and 25 luxury residential villas located on 240,000 square metres of prime freehold land.
Head of the Hotel Group, Richard Bursby, and associate William Stuart-Lee represented EHC, while Johnson Stokes & Master advised on Thai law. Hogan & Hartson acted for Kingdom and Baker & McKenzie acted for the sellers.
Notes to editors
For more information please contact Sheena Lee at Taylor Wessing:
Tel: +44 (0)20 7300 4930
Email: s.lee@taylorwessing.com
The Hotel Group at Taylor Wessing focuses exclusively on providing legal advice to a broad spectrum of organisations from around the world, including developers, owners, lenders and operators as well as to architects, construction companies and professional consultants who are involved in the Hotel industry. The Hotel Group comprises lawyers drawn from specialist legal teams across our 9 offices in Europe, together with lawyers from our offices in Dubai and Shanghai, who have extensive experience of providing comprehensive and practical solutions to the Hotel industry.
Taylor Wessing is a leading law firm providing legal support for commercial organisations doing business in Europe. Based in Belgium, France, Germany and the UK, Taylor Wessing provides the full range of legal services to major corporations and growing enterprises. Taylor Wessing boasts a strong reputation in the corporate, finance and real estate sectors alongside in-depth experience across the full range of legal services including intellectual property and technology, tax, litigation & dispute resolution, employment & pensions and private client.
