Prominent hotel and resort investors, owners, lenders and developers turn to Herrick for dynamic legal counsel on a wide variety of real estate concerns. We focus on serving boutique hotel owners and hotel developers in New York City and in cities across the United States as they establish their brands and presence in competitive markets.
Our diverse experience spans sales, acquisitions, developments, financings and loan workouts involving hotels, resorts, casinos and condo-hotels in every U.S. state, and in Canada, Mexico, Bahamas, Israel and the Caribbean.
With a focus on helping international hoteliers enter and thrive in the U.S. market, whether this is the first time or the fiftieth time, we add value, whenever possible, by introducing clients to joint venture partners, financing sources and investment opportunities.
We assist hotel and resort developers, investors, operators, and capital providers in connection with single-use and mixed-use hotels, resorts, and leisure projects. Herrick advises clients on all aspects of the deal cycle from acquisition and development to disposition of the property. Our well-known and well-respected real estate department is able to assist with a broad spectrum of complimentary capabilities such as land use and zoning, construction, and management arrangements.
We also advise on the complete spectrum of issues related to the decision to brand hospitality projects, the implementation of governance regimes for mixed-use projects, and the marketing and sale of leisure-oriented residential real estate. Additionally, borrowers, lenders, and operators turn to us for targeted advice regarding project finance transactions involving hotels, resorts, and complex mixed-use projects.
When the market changes and hotels undergo challenges, we help clients through any type of distress. Herrick creates solutions through re-brandings, change of use, restructurings and financing needs. While the challenges that continue to affect the hospitality industry relating to COVID-19 remain very real, our team has been through many economic cycles. We are able to offer measured strategic counsel to our hospitality and hotel clients, avoiding costly disputes whenever possible with out of court restructurings and modifications. If needed, we call upon our extensive and experienced Restructuring and Finance Litigation team to swiftly bring any litigation to a fair conclusion.
In the competitive New York-area hotel market, we are a go-to law firm, frequently called on to help navigate local zoning laws, hotel-condominium regulations and government relations concerns. Our status as a top-tier legal advisor is evidenced by our exceptional deal volume, as well as many development, sale, acquisition and joint venture transactions covering the city’s leading hotels.
Areas of Focus
- Hotel financings
- Acquisitions and dispositions
- Joint ventures
- Commercial leasing
- Land use and zoning
- Franchise and operating agreements
- Development and construction
- Employment concerns
- Restructuring and foreclosures