Taylor Wessing acts for European Hotels Corporation Limited on joint venture with Kingdom Hotel Investments for US$65 million development of Raffles Resort and Residence at Da Nang, Vietnam
Lawyers Richard Bursby
Taylor Wessing acted for European Hotels Corporation Limited ("EHC") on a joint venture, which is 20% owned by EHC and 80% owned by Kingdom Hotel Investments, the listed hotel and resort company chaired by HRH Prince Alwaleed Bin Talal. The Joint Venture Company has acquired land on which it proposes to develop a five star Raffles Resort and Residence for a total estimated project cost of US$65 million. Kingdom is also EHC's joint venture partner in the Four Seasons Hotel in Marrakech and Raffles Phang Nga Resort and Residences in Thailand.
The proposed resort will open in 2011 and feature approximately 150 hotel suites and 15 private residential villas for sale on 154,000 square metres of direct beachfront.
Richard Bursby represented EHC, while Kingdom Hotel Investments was represented by Baker & McKenzie on the acquisition and Hogan & Hartson on tax structuring and the shareholder arrangements.
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.
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