Independent UK law firm Burges Salmon has advised international client Pandox, one of the largest hotel property owners in Europe, on the financing for, and its acquisition of, DoubleTree by Hilton Edinburgh City Centre. The £49 million acquisition expands Pandox’s portfolio in Scotland and adds to its Edinburgh offering where it already owns the Aparthotel Adagio Edinburgh Royal Mile.
A multidisciplinary group of experts from Burges Salmon’s Hotels team, within the firm’s Built Environment sector group, advised on the transaction, with the firm providing corporate finance and real estate expertise. Leading on the transaction was partner Robert Forman and associate Victoria MacAulay.
Robert Forman comments: “Despite suffering from the impact of the pandemic, the hospitality sector has bounced back phenomenally in recent years. Edinburgh in particular is a prime hotel market, with a range of opportunities for owners and developers who want to make targeted investments. With a dedicated team of experts in the leisure and hospitality sector, we advise on high profile hotel transactions across the UK, and this track record, combined with our international expertise, mean we were well positioned to guide Pandox through this exciting venture.”
Jacob Rasin, Senior Vice President of Transactions at Pandox adds: “We've built an excellent rapport with Burges Salmon and the team has been positive and engaging, with a flair for simplifying the complex and resolving issues at pace.”
Burges Salmon’s Built Environment sector group provides strategic and practical legal advice on all forms of UK real estate and is supported by a dedicated Hotels team that works with owners, operators, investors and lenders on a broad range of projects, from acquisitions and disposals to management agreements and operational matters. Co-ordinating advice for clients across multiple jurisdictions, much of the firm’s work has an international element, helping overseas clients expand into the UK and supporting UK-based businesses grow globally.