Taylor Wessing acts for European Hotels Corporation Limited in US$115 million development of Raffles Resort and Residence at Phang Nga, Thailand

08-Nov-2006  |  Corporate, Hotels

CLIENT

European Hotels Corporation Limited

VALUE

US$115 million

TRANSACTION

Acquisition

DESCRIPTION

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.