Clarkslegal has successfully advised on the sale of two Holiday Inn Express hotels in multi-million pound transactions.
Led by Property Partner, Rachel Krol and Corporate Partner, Ashan Arif, the sales were completed at the beginning of April following some intense and difficult negotiations. With seven law firms across three jurisdictions and three banks involved, the transactions threw up a number of complex problems and industry specific issues, which the Clarkslegal team expertly navigated for the sellers. Rachel Krol was delighted with the outcome commenting “the Clarkslegal team demonstrated its sector expertise combined with a real desire to achieve the right outcome for the client”. Ashan Arif added that “the Clarkslegal “hotel” team showed real tenacity, drive and technical ability in getting the deal over the line”. Work on the sales started at the beginning of February, contracts exchanged in early March and completion was achieved in early April.