Starwood Sells Hotel Las Dalias to Covivio
Deal News | Feb 07, 2025 | Iberian Lawyer
Starwood Capital Group, a prominent U.S. investment firm, has successfully completed the sale of Hotel Las Dalias, a 429-room, four-star hotel located in Costa Adeje, Tenerife. The transaction was finalized with Covivio, a French hotel brand, through its subsidiary, Covivio Hotels. DLA Piper, a leading global law firm, provided comprehensive legal advisory services for this transaction, focusing on urban planning and real estate aspects. The legal proceedings were spearheaded by Orson Alcocer, a partner responsible for the department, with key contributions from ngel Maestro, the legal director, and associates Natalia Ruigmez and Julia Fernndez. DLA Piper has historically been a strategic advisor to Starwood in numerous investment and financing initiatives within Spain, further solidifying their collaborative relationship.
Sectors
- Real Estate
- Hospitality
- Legal Services
Geography
- Spain – The hotel, Hotel Las Dalias, is located in Tenerife, Spain, and the transaction involved Spanish legal and real estate considerations.
- USA – Starwood Capital Group, the seller, is a U.S.-based investment firm.
- France – Covivio, the buyer, is a French hotel brand, highlighting the cross-border nature of the transaction.
Industry
- Real Estate – The article discusses the sale of a substantial real estate asset, Hotel Las Dalias, involving complex urban planning and real estate legalities.
- Hospitality – The transaction involves the sale of a hotel property, making the hospitality sector highly relevant to the article.
- Legal Services – DLA Piper, a legal services firm, played a critical role in advising on the transaction, emphasizing the legal industry’s involvement.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Starwood Capital Group | Seller | Company | A U.S. investment firm that specializes in global real estate and energy investments. |
| Covivio | Buyer | Company | A French hotel brand that, through its subsidiary Covivio Hotels, purchased Hotel Las Dalias. |
| DLA Piper | Legal Advisor | Company | A global law firm that provided legal advisory services to Starwood Capital Group on this transaction. |
| Orson Alcocer | Partner, Urban Planning and Real Estate | Person | Partner at DLA Piper and led the legal advisory team for this transaction. |
| ngel Maestro | Legal Director | Person | Legal director at DLA Piper who was involved in the transaction. |
| Natalia Ruigmez | Associate | Person | Associate at DLA Piper contributing to the legal proceedings. |
| Julia Fernndez | Associate | Person | Associate at DLA Piper contributing to the legal proceedings. |