SOURCE: King & Spalding

King & Spalding

February 28, 2013 12:39 ET

King & Spalding Advises Principal Hayley Group's Management on Starwood Capital Buyout

LONDON--(Marketwire - Feb 28, 2013) -  King & Spalding represented the management of hotel and conference centre operator Principal Hayley Group in relation to the sale of the company to an investment fund affiliated with Starwood Capital Group.

Principal Hayley's portfolio currently includes 23 properties across the UK and Europe, including well known city centre hotels such as The George, Edinburgh, the St. David's Hotel, Cardiff, the Grand Central Hotel, Glasgow and the Hotel Russell, London. Starwood Capital is a private, U.S.-based investment firm with a core focus on global real estate. The firm currently has over $22 billion of assets under management.

Terms of the transaction were not disclosed.

King & Spalding advised Principal Hayley's management, which is led by CEO Tony Troy, on the deal. London-based corporate partner William Charnley and senior associate Marcus Young handled the instruction.

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