AGO Hotels’ Acquisition of Two Ibis Hotels

In UK Dentons, advised on the matter.

Dentons advised AGO Hotels with a team including Matthew Tinger (Picture – Corporate M&A), Simon Masri (Real Estate).

AGO Hotels executed its acquisition of two Ibis hotels in South Wales.

AGO Hotels have acquired the 99-bedroom Ibis hotel in Swansea and a 104 bedroom Ibis budget hotel in Newport. Both hotels will continue to trade under their current brands following their acquisition.

AGO Hotels was launched in partnership with Accor to rebrand properties under Accor’s Ibis budget brand, with AGO funding the rebrand costs and Accor the operator. AGO Hotels was co-founded by Travelodge Owners Action Group leader and Oasis Holding director Viv Watts and hotelier Lionel Benjamin. The AGO Hotels platform offers a 25-year FRI lease, an equity stake and profit participation calculated on the basis of each hotel’s earnings before interest, tax, depreciation and amortisation (EBITDA).

The Dentons transaction was led by Corporate Real Estate partner Matthew Tinger (Picture), and Real Estate & Hotels partner Simon Masri and supported by Real Estate associate Varun Devesher.

Involved fees earner: Varun Devesher – Dentons; Simon Masri – Dentons; Matthew Tinger – Dentons;

Law Firms: Dentons;

Clients: AGO Hotels;

Author: Giulia Di Palma