Clyde & Co advises RIU on its strategic acquisition of The Westminster Hotel, London

Clyde & Co is delighted to announce its role as lead legal advisor to RIU Hotels & Resorts in the acquisition of The Westminster Hotel in London

Transaction details: RIU’s UK subsidiary, HSF London Ltd, acquired the entire issued share capital of Carolia Westminster Hotel Limited, the entity owning The Westminster Hotel, for a headline purchase price of £287 million from its previous ownership, a consortium including Westmont Hospitality, BHP & PPF Real Estate (advised by JLL). The Riu Plaza London The Westminster features 464 rooms and is located just one minute from the River Thames and Tate Britain, and within walking distance of the historic Westminster Abbey, the Houses of Parliament and the iconic Big Ben. Originally built in 2003, the hotel underwent a complete renovation in 2021, at which point it joined the Curio Collection by Hilton. Following RIU’s acquisition of the site, it has become part of the chain’s Riu Plaza portfolio of city hotels.

This transaction represents a significant milestone for RIU as it continues to strengthen its footprint in key international markets. The Westminster Hotel will be rebranded under RIU’s renowned RIU Plaza line, further strengthening its portfolio of premium urban hotels and becoming the thirteenth property in RIU’s urban portfolio, joining those already operating in Panama, Guadalajara (México), Madrid, Miami, Chicago, San Francisco, New York, Berlin, London, Dublin and Toronto. This acquisition, which commentators have noted as representing the biggest single-asset hotel transaction in London since 2021, also underscores RIU’s confidence in the long term strength of the UK hospitality market and its ambition to offer accommodation in one of the world’s most visited cities.

Clyde & Co provided comprehensive legal support across all legal matters including M&A, property, tax and employment matters, ensuring a seamless process for RIU. RIU was also advised by Watsons on the accounting and tax aspects of the transaction. Acting for the Seller were Howard Kennedy LLP and BBH Ltd as legal counsel, and EY as accounting and tax advisors.

The deal was led by Corporate Partner Richard Elks, with Associate Sarah Ridley assisting, supported by Katrina Lloyd (Junior Associate). On the Real Estate side, John Pearce (Partner), Emily Applegarth (Legal Director), and Melanie Bagwell (Senior Associate) played key roles. Tax advice was led by Malcolm Frost (Partner) and Zoe Mahon (Associate). Employment advice was provided by Charles Urquhart (Partner) and Joshua Hopkins (Associate). The team were also supported by Isabel Ost (Partner, Data Protection) and Will Cooper (Legal Director, Projects and Construction).

“We are proud to have supported RIU on this landmark acquisition, which reinforces their position as a leading global hospitality brand and demonstrates confidence in the UK market," said Richard Elks, Corporate Partner at Clyde & Co.