Gardere Wynne Sewell LLP represented longtime client West Paces Hotel Group in documenting the management and branding of the Capella Sochi, Solis Sochi and Auriga Spa Sochi – two luxury hotels and a freestanding luxury spa that will anchor the Olympic Village being developed for the Russian government in connection with the 2014 Winter Olympics in Sochi, Russia.
The Capella Sochi, Solis Sochi and Auriga Spa Sochi are the first projects for WPHG in Russia as part of the company's global expansion strategy. Gardere's Hospitality Team was led by Chair Clifford J. Risman, a real estate partner in the Dallas office. Real Estate Associate Ashley W. Anderson also worked closely on the deal since talks began last year.
In order to close the deal, Gardere attorneys and WPHG worked with OJSC Krasnaya Polyana, one of the biggest developers of the Olympic Village and ancillary facilities in Sochi. The parties signed multiple Hotel Management Agreements and Centralized Service & Marketing Agreements in a transaction completed in Moscow the week of Oct. 24.
"Despite recent changes and reforms, doing business in Russia remains a challenge and this was a very complex project," says Mr. Risman. "It was closely watched by the Russian government and other parties involved in the 2014 Winter Olympics planning process."
In total, WPHG will operate three of the nine properties being developed in the Olympic Village. WPHG develops and manages luxury hotels and resorts throughout the world.
The Gardere Hospitality Team routinely handles acquisitions, development, dispositions and financings for some of the most recognized names in the hospitality industry around the world, including in the United States, Asia, Canada, the Caribbean, Europe, Mexico and the Middle East.