Hotels _ Leisure

							Hotels & Leisure
December 2008
Watson, Farley & Williams
Contents
Our approach.......................................................................................................................3

Hotels & leisure group........................................................................................................4

Hotels & leisure experience ...............................................................................................5

   FINANCING ......................................................................................................................5

   COMMERCIAL TRANSACTIONS ...................................................................................6

   CORPORATE FINANCE ..................................................................................................8

Our offices .........................................................................................................................10
Our approach
Watson, Farley & Williams is a leading international law firm with offices in major
financial centres in Europe, Asia and the USA. We now operate in London, New
York, Paris, Hamburg, Munich, Rome, Milan, Athens, Piraeus, Singapore and
Bangkok.


Our legal teams advise on English, French, German, Greek, Italian, Russian, New York,
US federal and Thai law and we maintain active relationships with leading law firms in
many other countries.


Our strengths derive from our commitment to excellence and we are determined to
maintain those standards as we expand.


We advise on international finance, corporate and commercial matters, mergers and
acquisitions, corporate finance, competition, taxation, dispute resolution, real estate and
employment law. Industry sectors where we have particular expertise across the firm
include shipping, aviation, energy, oil and gas, natural resources, private equity, real
estate and information and communications technology.


We are an energetic and enterprising legal practice committed to providing the highest
possible levels of service.


We believe in establishing and maintaining close working relationships with each of our
clients and in taking time to understand their particular businesses and objectives. This
approach enables us to assist our clients in achieving their goals.


We combine commercial acumen with technical expertise to offer creative but practical
solutions which facilitate our clients’ objectives. It is our aim to provide a service which
exceeds our clients’ expectations.


We strive to become the adviser of first choice to each of our clients in every area of
expertise.




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Hotels & leisure group
We assist businesses in the Hotel and Leisure industry at any stage of their development,
from small-scale start-up ventures to established corporates.


We also assist other businesses on all aspects of dealing with Hotel and Leisure
companies.


We are able to do this because of the wide range of expertise that the firm offers in all
aspects of commercial law. We are able to combine the firm’s competition, corporate,
employment, finance, financial services, immigration, intellectual property, real property
and tax expertise to give you an integrated and comprehensive solution to all your legal
needs.




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Hotels & leisure experience
We provide a comprehensive legal service to our clients in the Hotel and Leisure sector.


The following is a selection of recent matters undertaken by our lawyers in this area:


FINANCING

    •   Advising Persia International Bank plc on a €5m loan to finance property
        development work for a hotel complex in Iran

    •   Advising Fortis on a £9m term loan facility to Fulham Football Club. This loan was
        secured on income received from BSkyB relating to broadcasting rights

    •   Acting for Lloyds TSB Structured Asset Finance and Lloyds TSB Bank plc as
        providers of leasing finance and associated facilities for the refurbishment of the
        Royal Festival Hall, London

    •   Acting for Lloyds TSB Structured Asset Finance as providers of leasing finance for
        the construction of the Liverpool Arena and Conference Centre forming part of the
        King’s Waterfront development, Liverpool

    •   Advising Lloyds TSB in relation to the disposal of its interest in the London Conrad
        Hotel at Chelsea Harbour

    •   Advising Lloyds TSB and HBOS in connection with a restructuring of leasing
        facilities relating to the development of The Sheffield Arena and other sport and
        leisure facilities in Sheffield

    •   Acting for the Royal Bank of Scotland and Mitsui Marine Insurance Company
        Limited in connection with a US$105m construction loan in respect of a Ritz-
        Carlton Hotel, Condominiums and nine hole golf course in Grand Cayman, one of
        the largest loans ever for a property in the Cayman Islands

    •   Advising Club Med S.A. on their project for a new resort in the Maldives




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COMMERCIAL TRANSACTIONS

    •   Advising Music Works Group on corporate and tax structuring issues relating to a
        music production (German version of "Rhythms del Mundo")

    •   Advising the owner/developer in relation to Banyan Tree Corniche Bay, a 5-star
        luxury hotel, private villa and golf course development in Mauritius, including
        negotiation of the hotel management contract and other consultancy
        arrangements, drafting of construction contracts based on the FIDIC standard
        forms, and negotiation and drafting of construction financing documentation

    •   Advising Departement de l'Aude (French local Governement) in a €2,142,857
        case against Commune de Fleury d'Aude (French municipality) relating to the
        construction and the operation of public leisure equipment called "Bulle de Fleury
        d'Aude"

    •   Advising an Italian company on the development of a restaurant and
        entertainment complex in Thailand

    •   Advising in relation to the proposed development of a resort hotel to be built in the
        Seychelles

    •   Advising on a land development agreement for a resort in Bali

    •   Advising an international leisure resort group on a luxury villa resort project in
        Thailand

    •   Advising a Danish Limited Partnership on the purchase of two hotels in the UK

    •   Advising in relation to the restructuring of a Greek hotel group

    •   Advising the shareholders on the establishment of a UK ticketing agency

    •   Advising the purchaser on the purchase of a UK tour operator

    •   Advising the purchaser on the purchase of a UK tour operation business

    •   Advising a tour operator on its group reorganisation

    •   Advising an international hotel group in respect of the construction of a hotel in
        Vietnam



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    •   Advising on the sale by the Vivendi Group of its hotel division to a consortium lead
        by Accor SA for around FF3.1bn

    •   Advising a hotel management company on the acquisition of a hotel located in St
        Barth

    •   Advising a UK hotel group on the sale of a hotel in Paris for FFR 155m

    •   Advising a UK hotel group on the acquisition of a hotel in Paris

    •   Advising a non-Russian investor in relation to a hotel development in Nizhny
        Novgorod including establishment of offshore corporate structures

    •   Advising on the financing of Gibraltar hotel project

    •   Advising an internet start-up venture, which sells theatre, festival and other tourist
        attraction tickets as well as hotel accommodation on-line, on its formation, first
        round funding, intellectual property protection, e-commerce terms of trading, share
        option structures and employment matters

    •   Advising the founders of a sports internet company in connection with the issue of
        shares to French and UK investors

    •   Advising on the site assembly of a Portuguese golf course development and the
        subsequent sale thereof

    •   Advising the owners of a major London sports stadium on financing the
        redevelopment of the stadium

    •   Advising a number of airlines and cruise and ferry companies on all aspects of
        their ticketing and tour operation arrangements

    •   Advising a well-known hotel group on various trademark applications and litigation
        relating to the use of similar names

    •   Advising hotel and casino operators on hotel/casino management agreements

    •   Advising Societe Générale in their discussions with Pierre & Vacances SA and the
        Conseil Général de l'Aisne to finance the infrastructure of a leisure centre to be
        developed in Lac de l'Ailette, Reims, France




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CORPORATE FINANCE

    •   Advising Career Partner GmbH, a portfolio company of the Private Equity Fund
        AUCTUS, on the acquisition of Steigenberger Akademie GmbH, a provider of
        professional education in the hotel business, as well as the acquisition of a
        hereditary building right from the city of Bad Reichenhall for the construction of a
        new campus for a college of higher education

    •   Advising Charles Stanley & Company Limited in its capacity as nominated
        advisers to Lady in Leisure Group Plc in relation to a placing

    •   Advising Charles Stanley & Co Limited in its role as Nominated Broker to XS
        Leisure Plc in connection with its application for admission to AIM and related
        placing

    •   Advising the vendors of The Sports Café Group Limited on its sale to Coliseum
        Group plc for £8m satisfied in shares and a placing and application for re-
        admission by the enlarged Group to AIM

    •   Acting in relation to the proposed acquisition of a listed leisure company by way of
        recommended offer

    •   Advising Regal Hotel Group PLC on the acquisition of the Crown and Raven
        Hotels and Wright Hotels for £28.8m and related £18.8m rights issue and £11m
        banking facility arrangements

    •   Advising Regal Hotel Group PLC on the £9.5m acquisition of the Time Out Hotel
        (Leicester), the Hillcrest Hotel (Widnes), the Hall Garth Hotel (Darlington) and the
        Cumbrian Hotel (Carlisle) and related £11m placing and open offer and £3m
        banking facility arrangements

    •   Advising Regal Hotel Group PLC on its £12m investment in Etrop Grange Hotel

    •   Advising Regal Hotel Group PLC on the £2.6m acquisition of West Retford Hotel
        and the Brownsover Hall Hotel, Rugby, and a related £2.5m placing and open
        offer




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    •   Advising Regal Hotel Group PLC on the £2.5m acquisition of St. Michael’s Hotel,
        Falmouth, and related £2m placing and open offer and £1.25m banking facility
        arrangements

    •   Advising Regal Hotel Group PLC on its capital reconstruction and £450,000 rights
        issue




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Our offices
London                                                 Milan
Watson, Farley & Williams LLP                          Studio Legale Associato a Watson, Farley
15 Appold Street                                       & Williams
London EC2A 2HB                                        Via Santa Radegonda 11
Tel: +44 (0) 20 7814 8000                              20121 Milan
Fax: +44 (0) 20 7814 8141/8142                         Tel: +39 02 72 17 071
                                                       Fax: +39 02 72 17 0720

New York                                               Athens
Watson, Farley & Williams                              Watson, Farley & Williams
(New York) LLP                                         Greek Branch
100 Park Avenue                                        6th Floor
New York                                               Neophytou Vamva 4
New York 10017
                                                       Kolonaki 106 - 74
Tel: +1 212 922 2200
Fax: +1 212 922 1512                                   Athens
                                                       Tel: +30 21 0455 7300
                                                       Fax: +30 210 7212 490

Paris                                                  Piraeus
Watson, Farley & Williams LLP                          Watson, Farley & Williams
150, avenue des Champs-Elysées                         Greek Branch
75008 Paris                                            8th Floor - Ionian Building
Tel: +33 (0) 156 88 21 21                              Defteras Merarchias 2
Fax: +33 (0) 156 88 21 20                              Piraeus 185 36
                                                       Tel: +30 21 0455 7300
                                                       Fax: +30 21 0459 4004

Hamburg                                                Singapore
Watson, Farley & Williams LLP                          Watson, Farley & Williams LLP
Am Kaiserkai 69                                        16 Collyer Quay
20457 Hamburg                                          #12-02 Hitachi Tower
Tel: +49 (0) 40 80 80 344 0                            Singapore 049318
Fax: +49 (0) 40 80 80 344 10                           Tel: + 65 6 532 5335
                                                       Fax: + 65 6 532 5454

Munich                                                 Bangkok
Watson, Farley & Williams LLP                          Watson, Farley & Williams (Thailand)
Kardinal-Faulhaber-Straße 10                           Limited
                                                       Unit 902, 9th Floor,
80333 Munich
                                                       GPF Witthayu Tower B
T: +49 (89) 237086 0                                   93/1 Wireless Road
F: +49 (89) 237086 222                                 Patumwan, Bangkok 10330
                                                       Tel: + 66 (0)2 665 7800
                                                       Fax: + 66 (0)2 665 7888
Rome
Studio Legale Associato a
Watson, Farley & Williams                              Watson, Farley & Williams Website
Piazza Navona, 49
2nd Floor int 2/3                                      www.wfw.com
00186 - Rome
Tel: +39 06 68 40 581
Fax: +39 06 68 89 2717


All references to ‘Watson, Farley & Williams’ and ‘the firm’ in this brochure mean Watson, Farley & Williams LLP
and/or its affiliated undertakings. Any reference to a 'partner' means a member of Watson, Farley & Williams
LLP, or a member or partner in an affiliated undertaking, or an employee or consultant with equivalent standing
and qualification.




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