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NHG advised Marriott on the sale of the “Puerto Vallarta Resort & Spa hotel”
NHG advised Marriott on the sale of the “Puerto Vallarta Resort & Spa hotel”, which included real estate property, furniture, fixtures and equipment. Additionally, NHG acted as antitrust counsel securing approval of the transaction before the Mexican antitrust commission.
The transaction was implemented through an Asset Sale and Purchase Agreement subject to conditions precedent, along with the execution of several ancillary documents, including certain management documents whereby Marriott retained the management and operation of the hotel. The acquisition involved a structure in which one entity acquired the real estate property, while an operating company was created to take ownership of, among other things, the furniture, fixtures, and equipment within the hotel. A lease agreement for the real estate property was executed between these entities.
The transaction included an analysis of local and federal regulations related to the hotel operation permits and their transfer. Several documents were executed to ensure an appropriate transfer. Additionally, negotiations were conducted with both international and national suppliers to ensure the continuity of hotel operations and a seamless transition of services.