Arora trust firms up major hotel deal

Hotel News - 16/02/2006

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Three of Britain's top city law firms have been drafted in to ensure that a crucial deal on the ownership of nine major airport hotels goes through smoothly.

Solicitors from Macfarlanes, CMS Cameron McKenna and Lovells will all advise the Arora Family Trust on their £300 million acquisition of the Airport Hotels Unit Trust, which was announced earlier this month.

The use of some of London's most expensive solicitors reflects the importance of the contract, which Arora boss Suronder Arora sees as 'the biggest deal he has done to date', according to one Macfarlanes banking partner.

The acquisition saw Arora purchase an 80 per cent stake in the Airport Hotels Unit Trust, with an agreement that BAA Lynton will continue to manage the hotel portfolio as a part owner of the trust.

Mr Arora commented: 'It gives us a warm feeling to think that we are now the owners of more than 5,500 hotel bedrooms in the country.'

With the market in UK airport hotels set to become more intense, customers should take advantage of the range of competitive prices by looking online.

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