East coast Accor hotels find new owner
Clayton Utz has advised European investment company AXA on the purchase of four Australian Accor hotels from an Abu Dhabi seller.
Firm: Clayton Utz (AXA)
Deal: Clayton Utz has advised AXA on the purchase of four Accor hotels from The Abu Dhabi Investment Authority.
Value: $330 million
Area: Real estate, M&A
Key players: Clayton Utz real estate partner Andrew Steele led the AXA advice, with partners Kathy Santikos, Claire Smith, Abraham Ash, and their teams all assisting.
Key support was also given by senior associate Elizabeth Boden and special counsel Keshni Maharaj.
Deal significance: The acquisition will see European investment company AXA purchase four Accor hotels from The Abu Dhabi Investment Authority.
Three of the hotels are located in Sydney’s Olympic Park while the fourth is in Canberra.
All four hotels involved in the acquisition are managed by Accor, which is the country’s largest hotel group on long-term management agreements, according to Clayton Utz.
The firm called it “the most significant hotel portfolio transaction to date this year”.