Howard Kennedy advise Fairview Hotels on three hotel acquisitions
Law firm Howard Kennedy is advising Fairview Hotels on its continued and significant expansion, following the acquisition on 28 April of three hotels from Land Securities and AccorHotels.
Fairview Hotels, a large hotel owner and operator, has acquired the 102-bedroom Ibis Cardiff City Centre, the 111-bedroom Ibis Rugby Central, and the 126-bedroom Novotel Newcastle Airport. This follows its acquisition of four Novotel hotels in December 2016.
Fairview Hotels now has a portfolio of 12 hotels, including seven Novotels, three Ibis’s and two Mercure hotels, totalling more than 1,300 beds. All hotels are owned and operated by Fairview under franchise agreements with AccorHotels.
The three new hotels will undergo a renovation and refurbishment programme whilst being integrated into the Fairview portfolio.
Neil Forbes, Director of Operations at Fairview Hotels said:
We are thrilled to be taking on these additional properties. We know and understand the Novotel and Ibis brands and believe they will be a great addition to our portfolio whilst strengthening our relationship with AccorHotels.
Howard Kennedy has worked alongside the management team at Fairview Hotels for many years and played an active role in its growth. We are delighted to have supported them on these acquisitions and will continue to be part of the team as they continue to grow.
Hogan Lovells acted for Land Securities, CMS advised Accor, and DWF acted for Coutts.
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