Lawyer David Ryland advises Starwood on €850m hotel hat-trick

Real estate lawyer David Ryland, who is now a partner at Paul Hastings, has advised Starwood Capital Group on three major hotel portfolio transactions in the UK totalling £700 mln (€846 mln) in the last 13 months.

The latest deal came on 11 March when affiliates of Starwood Capital, a Connecticut-based private investment firm, acquired De Vere Venues from the De Vere Group for about €280 mln.

De Vere Venues operates 23 owned and leased hotels comprising 2,433 keys, 374 meeting rooms and 38,500 m2 of meeting space, predominately located in Greater London. The portfolio also includes nine management and franchise contracts.

Starwood Capital was advised by Paul Hastings' team, led by Ryland, with associates Mark Rajbenbach, Michael James and Denize Akbulut, partner Justin Jowitt and associate Rebecca Coveney on finance issues, and associate Jiten Tank on tax issues. Ryland had joined Paul Hastings from SJ Berwin in November 2013.

In January 2014, Starwood acquired UK hotel owner and operator Four Pillars Hotels. The financial details were not disclosed but the price is believed to have been in the region of £90 mln (€109 mln). The transaction included a portfolio of five owned and leased hotels and one managed hotel in Oxfordshire and the surrounding areas, comprising 863 rooms. The hotels are at the high-end of the three and four-star categories.

Ryland led the legal team advising the buyer. Other members of the Paul Hastings team included partner Garrett Hayes and associates Mark Rajbenbach, Michael James and George Weston.

Paul Hastings received both instructions after Ryland joined the firm last year. Ryland had earlier headed the SJ Berwin legal team that advised Starwood Capital on the acquisition in 2013 of the Principal Hayley Group for around £370 mln. Principal Hayley operates 23 luxury City Centre hotels in the UK and Europe.