International law firm Trowers & Hamlins, along with Swiss Interlaw firm Thouvenin Rechtsanwälte acted as legal counsel for Twenty14 Holdings (T14H), the leading global hospitality investment firm, on their forward purchase contract for the development of InterCity Hotel Zurich Airport in Rümlang, Switzerland.
International law firm Trowers & Hamlins, along with Swiss Interlaw firm Thouvenin Rechtsanwälte acted as legal counsel for Twenty14 Holdings (T14H), the leading global hospitality investment firm, on their forward purchase contract for the development of InterCity Hotel Zurich Airport in Rümlang, Switzerland.
The addition of the InterCity Hotel marks T14H’s first entry into mainland Europe and joins a portfolio of $750m worth of luxury property across the UK, the Middle East and India. The property is scheduled to open in 2020.
T14H worked with HVS Hodges Ward Elliott to sign on the 260-room upscale hotel from developers Necron AG. The hotel will be leased to Deutsche Hospitality (Steigenberger Hotels AG) and operated under a 20-year contract.
The purpose-built, 4-star hotel is located close to the Rümlang station and includes access to Zurich International Airport. The property will include meeting and event spaces, a restaurant, an indoor fitness and spa area as well as underground and outdoor parking facilities.
This is T14H’s second property to be operated by Deutsche Hospitality. The German hospitality firm currently operates T14H’s Steigenberger Hotel Business Bay in Dubai, UAE.
Lead Partner, Youssef Boulos said:
"We are delighted to have acted on this important deal for T14H. This is an exciting project, which will make a significant impact, not only in the hospitality sector, but also in terms of their footprint in Europe. We look forward to seeing how the project develops."
Youssef Boulos, Head of the Abu Dhabi office, led the team with support from Johannes Eisser along with Swiss Interlaw firm Thouvenin Rechtsanwälte. ADB acted as Swiss tax counsel.