Pinsent Masons advised TUI Global Hospitality Fund on the expansion of its hotel portfolio
22 Aug 2023 | 10:53 am | 1 min. read
Multinational law firm Pinsent Masons has advised TUI Global Hospitality Fund on the expansion of its hotel portfolio through the acquisition of the newly opened 5-star Emerald Zanzibar Resort & Spa in Zanzibar, Tanzania.
As part of the deal, a global hotel fund was established by TUI Hotel & Resorts with the aim of investing into a range of hotel properties from across the TUI portfolio.
The Pinsent Masons team was led Luxembourg-based Tax and Corporate Partner David Maria, Corporate Partner Isabelle Charlier, and Legal Director Luis Marques Guilherme. This team supported the client on negotiation of the governance and change of control, negotiation of the legal agreement as well as the review of the sales and purchase agreement.
Commenting on the deal, David Maria said: “We are very proud to have assisted TUI Global Hospitality Fund in the expansion of its offering on the East African island to this new investment in the Tanzanian economy. This deal demonstrates Pinsent Masons’ ability to manage complex large-scale international deals.
The global hotel fund was launched with Luxembourg-based HANSAINVEST with the aim of investing primarily into new hotel facilities that are acquired or newly developed and are not currently part of the TUI Group.
TUI Group is a leading global tourism group headquartered in Germany operating worldwide listed on the London Stock Exchange, on the regulated market of the Hanover Stock Exchange and on the Open Market segment of the Frankfurt Stock Exchange. As part of its growth strategy, TUI is developing its resort portfolio via a series of management and franchise contracts alongside joint ventures and investment partnerships.
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