City law firm GSC Solicitors LLP is delighted to announce that it advised longstanding client Queensway in the £420M acquisition of a majority holding in Raag Hotels Limited which owns Point A Hotels, by Tristan Capital Partners’ European Property Investors Special Opportunities 6 (EPISO 6) Fund. Queensway will remain a minority partner but with management and development responsibility.
The Point A portfolio comprises 1,520 rooms in 10 hotels, with 80% of its value in London and in Glasgow, Edinburgh and Dublin. Under the new partnership, Queensway will co-invest and act as hotel operator, asset manager and development partner for future sites.
Commenting on the transaction, Lead corporate partner Clive Halperin/Peter Belcher, Head of GSC’s Hotel & Leisure team said: “We were delighted to assist our longstanding client Queensway in respect of this complex matter. Under Queensway’s management, the Point A Hotels brand has developed a high-quality product at great value. We look forward to assisting our client further with its expansion plans in the future.”
Naushad Jivraj, CEO, Queensway said:
“GSC Solicitors has acted for Raag Hotels since its inception in relation to all seven London properties. We, at Queensway, are pleased to have been supported by them to form this new partnership with Tristan Capital Partners. We are excited by the next chapter of the Point A Hotels story as we, together with Tristan, continue to develop our product, brand and service to the ever-evolving needs of our guests.”
The Tristan EPISO 6 fund was advised by BCLP, Maples, Brodies, PWC, Savills, Artelia and Longevity.
Raag Hotels was advised by CBRE, Eastdil, Derek Gammage, DLA Piper, BDO and Voisin Law.
Queensway was advised by GSC Solicitors.
For further information please contact Paul Jaffa at Myddleton Communications, London on +44 7957 433312 or [email protected].
Notes for editors
About GSC Solicitors LLP
GSC Solicitors LLP is a Legal 500 recommended commercial law firm based in the City of London. With a client base of innovators and thought leaders, home grown entrepreneurs, global brands and ultra-high-net worth individuals, the firm’s lawyers provide a wide range of services, from wealth management to corporate commercial, real estate, intellectual property and immigration to private client and trusts. The firm has a global portfolio, undertaking work in Asia, the Middle East, Africa and the Far East and in celebrating its 50th Anniversary in 2022.
Queensway is a family-owned business that acquires, develops and operates a broad portfolio of real estate across the hospitality sector.
Founded in 1973, Queensway exists to bring teams together to create meaningful and memorable hospitality experiences for customers. The portfolio comprises a residential property business, Point A Hotels, Montagu Place Hotel, Sloane Place Hotel, The Sloane Club, ibis Styles Hotel Nairobi, sole franchisee for KFC in Austria and Slovakia and a franchise partnership with Starbucks in the UK. The Queensway organisation is made up of over 800 individuals across 50 locations in 5 countries, united by a shared DNA and core values.
For more information on Queensway, please visit www.queensway.com
About Point A Hotels
Small Hotels. Big Heart.
Point A Hotels believes a hotel should never just be a room. Across its 10 properties in central London, Glasgow, Edinburgh and Dublin, the brand aims to deliver heartfelt hospitality to everyone, no matter their budget. They define and customise their hotel offering to provide the best possible experience and value to their guests through thoughtful design, sincere service and active contributions to the local communities in which they operate.
Find out more: www.PointAHotels.com