02 February 2021

Vienna House Group sells large hotel portfolio with GSK Stockmann

GSK Stockmann has provided comprehensive legal advice to Vienna House Group on the sale of shares in a large hotel portfolio consisting of 23 hotels and hotel projects in Germany, Poland and Switzerland to the hotel operator HR Group. The transaction was part of a share deal.

The Vienna House Group has transferred its shares in hotel and project companies it had held in its portfolio to the Berlin-based HR Group within a structured sales process. With retroactive effect from 1 January 2021, the HR Group will thus take over shares and the operating business for various hotels.

The transferred hotel projects consist of 23 leased businesses. Of these, 20 properties have already been realised and three properties are under development. Together with the acquired properties, the HR Group will in future own a total of 75 houses with more than 12,500 rooms. Its aim is to position itself more internationally with the new portfolio and to strengthen its presence in Germany, Switzerland and Poland. Vienna House, on the other hand, intends to focus on the operation and further development of hotels owned by the group.

GSK Stockmann provided comprehensive legal advice to Vienna House Group on the transaction with a team led by hospitality expert Bernhard Laas. In particular, they assisted the Vienna House Group on corporate law issues, but also on the Q+A process, on antitrust and trademark law as well as on the coordination with a Polish advisory team.

Advisors of Vienna House Group:
GSK Stockmann: Bernhard Laas (lead, real estate/hospitality law), Jörg Kahler (trademark law), Wolfgang Jegodka (antitrust law); Associates: Lieor Koblenz (corporate law), Philipp Dawirs (real estate/hospitality law)

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bernhard.laas@gsk.de

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