Squire Patton Boggs has advised Avant Hotels Australia Pty Ltd on the sale of the Crowne Plaza Perth to I-Power Management Pte Ltd.
The sale, which was subject to a hotel management agreement with Intercontinental Hotels Group, was completed on 16 March 2017.
“Our client was very pleased with a smooth and successful transaction, brokered by Mark Durran of JLL,” said Squire Patton Boggs partner, Rahul Parrab. “We are delighted to have acted on this key transaction, evidencing continued deal flow in Perth”.
This marks another important milestone for the Squire Patton Boggs Australian hospitality practice, with the recent joining of Rahul Parrab in the Sydney office. Rahul specialises in hotel and resort transactions, real estate joint ventures, investments and developments and hotel management agreements in Australia and the Asia Pacific region.
Rahul noted: “It is very pleasing to work on this successful transaction with our client, in a challenging Perth hotel market. Our hospitality team has a strong Australia-wide practice working with domestic and foreign hotel owners, developers and operators. We recently attended a key hotel conference in Singapore, which noted again a generally robust Australian capital cities hotels market.”
The team advising Avant Hotels Australia was led by partner Rahul Parrab, along with of counsel Mark Palermo. The purchaser was advised by Lavan Legal.