The Goulston & Storrs Hospitality and Recreation group draws from many different disciplines within the firm to represent developers, management companies, lenders, franchisors, franchisees and equity investors in hotel, resort and golf course developments. Our attorneys also represent numerous financial institutions in making both construction and permanent loans on hotels and other recreational projects. Since tax and transactional attorneys work together as members of this group, we are frequently involved in structuring sophisticated transactions that maximize the tax planning opportunities of our clients.
We assist all players in the hotel and recreation services industry. For our developer clients, we provide all services necessary in a hotel, resort or golf course development. We routinely represent owners, both domestically and internationally, in all aspects of site acquisition (including ground leases), development, construction, finance, joint venture, equity placement, investor relations, purchasing of FF&E, management and franchise agreements, creation of hotel condominiums and related offering documents. Our representation of hotel management companies includes preparation and negotiation of hotel management agreements, franchise agreements, leases with owners, mezzanine loans, equity investments, technical services agreements, construction agreements and purchasing agreements for national buying programs. Our long term experience spans all relevant industry cycles and trends, including ground-up development, acquisition and repositioning, conversion to or from hotel use, eco-tourism, interval ownership, extended-stay, hotel condominiums, workout and sale.
Members of our Hospitality and Recreation group have considerable experience in all aspects of ownership structuring and tax planning, and we regularly counsel both public and private investors in hotel and other recreational projects, including pension and opportunity funds.
For further information about the Goulston & Storrs Hospitality & Recreation group, please contact our group co-chairs, Cecilia Gordon and Harold Stahler.
Representative Clients
- AIG Global Real Estate
- Aldrich, Eastman and Waltch
- BankBoston
- Beacon Capital Partners
- Capital Properties
- CrossHarbor Capital Partners LLC
- DINE
- Fairmont Hotels & Resorts
- Hilton Hotels Corporation
- Intercontinental Real Estate Fund
- Legacy Property Group
- New England Development
- Pinehills LLC
- Promus Hotel Corporation
- Pyramid Hotel Group
- Pyramid Hotel Opportunity Venture
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Representative Projects and Transactions
- Representation of Pyramid Hotel Group as co-receiver and hotel manager of The Westin Casuarina Resort & Spa, Grand Cayman. Representation of Pyramid Hotel Group as receiver and hotel manager or asset manager for hotels located in CA, FL, LA, NV, OH and VA.
- Representation of Pyramid Hotel Group with respect to hotel management agreements, asset management agreements and/or project management agreements for over 60 hotels located throughout the United States.
- Representation of Hyatt in connection with the $112 Million sale of the Hyatt Regency Boston Hotel to Chesapeake Lodging Trust.
- Representation of AIG Global Real Estate in a joint venture for development of Stowe Mountain Lodge Hotel Condominiums and Spa, Mount Mansfield, VT.
- Representation of CrossHarbor Capital Partners LLC on the completion of its debtor in possession financing and landmark acquisition of the equity interests in the reorganized Yellowstone Club in Montana. The acquisition was one of the largest real estate investments in the country in 2009. One feature of the Yellowstone Club is a rental program administered and coordinated by the Club through which Club members may rent their home(s)/unit(s) to other Club members, guests and prospective Club members and home purchasers.
- Representation of a private equity fund in connection with the acquisition of and mortgage financing for a 17-hotel select-service hotel portfolio, using an operating lease structure to meet investor needs; the representation included negotiating the joint-venture agreement with investors, franchise agreements and management agreements with Marriott, management agreements with third-party hotel managers, and the loan documents.
- Representation of the developer of the Mandarin Oriental, Boston in permitting, development, construction, financing and joint venture arrangements for the Mandarin Oriental Hotel, Residences, Apartments and Retail, including negotiation of hotel and property management agreements, and branding agreements, with Mandarin Oriental.
- Representation of developers on Nantucket and Martha’s Vineyard in the structuring of all aspects of condominium hotel properties, include securities analysis and compliance strategies, Interstate Land Sales Act compliance, condominium structuring, structuring of unit rental & management requirements, multi-state condominium sales registrations, sales staff education and oversight, and all document preparation.
- Representation of developers in the acquisition and re-positioning of distressed condominium hotel properties.
- Representation of Fairmont Raffles Hotels International in connection with the sale of the Fairmont Copley Plaza to Felcor Lodging Trust, including negotiation on behalf of Fairmont of a long-term hotel management agreement with Felcor.
- Representation of Fairmont Hotels & Resorts in connection with hotel management agreement for the Fairmont Battery Wharf Hotel, Boston.
- Sale of the historic Sagamore Resort at Lake George, New York.
- Representation of Capital Properties in the acquisition and refinancing of the Chatham Bars Inn.
- Representation of The Fallon Company / New England Development in the acquisition, development and ultimate sale of the Westin Boston Waterfront Convention Center Hotel, including negotiation of a hotel management agreement with Starwood.
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