Articles Posted in Buying and Selling a Hotel

Published on:

18 January 2022

See how JMBM’s Global Hospitality Group® can help you.

“Practice Group of the Year” awarded to
JMBM’s Global Hospitality Group
by Law360

Jeffer Mangels Butler & Mitchell LLP (JMBM) is proud to announce that the Global Hospitality Group® (GHG) has been selected as one of Law360’s Practice Groups of the Year. This award “honors the practices behind the litigation wins and major deals that resonated throughout the legal industry in 2021” and winners are chosen out of hundreds of submissions. The recognition is a result of the unsurpassed experience of the GHG team members who, for the past 30 years, have helped clients with more than 4,500 hospitality properties, valued at more than $112 billion.

Some notable accomplishments by members of the GHG in 2021 include:

  • Workout, recapitalization, and repositioning of a $1 billion mixed-use lifestyle hotel project
  • Sale of an NYSE-traded hotel REIT’s entire portfolio of 15 upscale, select-service hotels for $305 million
  • Closing more than $210 million in Commercial Property Assessed Clean Energy loans (C-PACE)
  • Assisting clients with hotel management and franchise agreements for properties worth more than $1.5 billion
  • Serving as primary counsel for lenders on more than $2.2 billion in the distressed hotel, retail, and office loans during the global pandemic, including over $500 million for a single client


Published on:

14 December 2021

See how JMBM’s Global Hospitality Group® can help you.
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JMBM Represents Prism Hotels & Resorts in Sale to Aimbridge Hospitality

The Global Hospitality Group® of Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce the successful closing of the sale of our client Prism Hotels & Resorts ( to Aimbridge Hospitality ( Prism specializes in hotel management, resort development management, and management of hotels in receivership and Ambridge is a leading global hospitality company.

Partners Guy Maisnik and Jay Thompson led the JMBM team with Jamie Ogden working unrelentingly on the pre-closing restructure. Associate Michelle Choi also worked assiduously on the restructure and on a myriad of ancillary deal documents.

In addition to a strong presence in traditional hotel management, Prism boasts the industry leading hotel receivership advisory and “turnaround” services involving the management and restructuring of properties that are economically distressed.

“In a year marked by immense change, it’s fitting that we announce the biggest moves in our company’s storied 38 year history,” Van said in a press release. “Close relationships have become integral to our company’s identity, and we place tremendous value in our people with whom we’ve grown together and the great properties we service. It’s with those values in mind that we have selected Aimbridge Hospitality to carry the Prism legacy forward. Aimbridge’s access to best-in-class resources and systems, coupled with their highly effective and experienced leadership team and deep understanding of our Most Satisfied Owner philosophy, makes them a perfect fit. The Prism Difference is alive and well, and we know the passion and dedication of our teams on the ground will continue to shine through this transition. We are inspired by this opportunity and excited to be part of Aimbridge Hospitality as we write the next chapter of history together. Our best is yet to come.”

“We are excited to continue Aimbridge’s growth with the acquisition of Prism.,” said Michael J. Deitemeyer, President & CEO of Aimbridge Hospitality. “With our global resources and Prism’s stellar reputation, this acquisition presents great opportunity for all of us. We look forward to welcoming their hotels, owners and talented team to Aimbridge and taking Prism’s incredible Most Satisfied Owner approach and robust lender services arm to new heights together.” CONTINUE READING →

Published on:

27 September 2021

See how JMBM’s Global Hospitality Group® can help you.
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JMBM Is Hotel Counsel for Condor Hospitality in $305 Million Hotel Portfolio Sale 

The Global Hospitality Group® of Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce its representation of Condor Hospitality Trust in the sale of the company’s entire portfolio to Blackstone Real Estate Partners. The $305 million deal was announced September 23, 2021 and is expected to close by the end of the year.

Condor Hospitality Trust (NYSE American:CDOR) is a publicly-traded real estate investment trust specializing in the ownership of premium-branded select-service, extended stay, and limited-service hotels franchised under brands including Hilton, Marriott, and IHG. JMBM represented the company as hotel counsel in connection with the initial bidding process and also provided guidance on the due diligence process and disclosure requirements, coordinated shareholder approvals and voting agreements, and negotiated the definitive purchase contract for the sale.

The Firm has represented Condor as hotel counsel since J. William Blackham became President and CEO in 2015. Known then as Supertel Hospitality Inc., owner of the Super 8 franchise and related economy hotels, JMBM assisted in the disposal of nearly all of the company’s $100 million in economy hotels and the subsequent purchase of the 15 upscale, select-service hotels sold in the current Blackstone deal. The hotels sold represent nearly 2,000 rooms and are located across eight states, including Georgia, Texas, and Florida.

“We have worked with Condor to implement its business plan for six years, and are pleased to have successfully counseled them through this next step,” said Jim Butler, Chair of the JMBM Global Hospitality Group®. The JMBM Condor team was led by Jim Butler, Guy Maisnik, Jeff Myers, and Caleb Gilbert.

The all-cash deal is part of a liquidation and dissolution plan, concluding with the eventual distribution of proceeds to the company’s shareholders. “We believe that this is an extremely attractive transaction for the company’s shareholders with a highly credible and very experienced buyer,” said Blackham in Hotel Business.

McGrath North Mullin & Kratz acted as Condor’s corporate counsel. Simpson Thatcher & Bartlett represented Blackstone. CONTINUE READING →

Published on:

20 April 2021

See how JMBM’s Global Hospitality Group® can help you.
Click here for the latest articles on Buying and Selling a Hotel.

The latest M&A deal closing is not a hotel deal, but JMBM is pleased to announce that Advanced Veterinary Specialists (AVS), a Level II Veterinary Emergency and Critical Care Facility located in Santa Barbara, has been acquired by SAGE Veterinary Centers, a West Coast leader in specialty and emergency vet services. JMBM partner Jeffrey Groendal was the lead lawyer for the seller.

Hospitality is one of JMBM’s core practice areas. But JMBM is a full-service firm with multiple specialties to serve business owners. Another core practice area in addition to hotels is JMBM’s Mergers & Acquisitions Group. The Group handles all kinds of business acquisitions, whether by property, portfolio or M&A deals, including hotels. The Group’s lawyers provide start-to-finish assistance with all aspects of structuring, negotiating, financing, documenting and closing the deal.

Take a look at some recent deals closed in 2021:

JMBM Represents Advanced Veterinary Specialists in Acquisition by SAGE Veterinary Centers

JMBM Represents Borrmann Metal Center in Acquisition by Contractors Steel

JMBM Represents CURLS Beauty Brands in Forming Strategic Partnership with Beauty by Imagination

JMBM Represents BQE Software in Growth Investment from Serent Capital

If you are interested in learning more about our M&A practice, visit or contact Michael N. Steuch at 310.712.6817 or CONTINUE READING →

Published on:

5 April 2021

See how JMBM’s Global Hospitality Group® can help you.
Click here for the latest articles on Buying and Selling a Hotel and here for the latest articles on Hotel Franchise & License Agreements.

Bob Braun recently wrote an article for Today’s Hotelier on the issues hotel owners should watch for when selling a property with a franchise agreement. He explores when sellers should start speaking to their franchisor during the sale process, what purchasers can expect when negotiating a new franchise agreement, how guarantees should be handled in a sale or transfer, and several other concerns that may arise when a branded hotel is sold.

On negotiating a franchise agreement, Bob notes:

“Franchise agreements are intentionally designed to be highly favorable to the brand, and brands are unwilling to make changes. That position is even more pronounced in a change of ownership…A purchaser should be aware that, absent special circumstances, brands rarely provide an area of protection to avoid competition, a ramp-up of fees, or other variations from their forms.”

Click here to read the full article. CONTINUE READING →

Published on:

17 March 2020

See how JMBM’s Global Hospitality Group® can help you.
Click here for the latest articles on distressed hotel loans, here for The Lenders Handbook for Troubled Hotels, and here for articles on the coronavirus.


Hotel owners, operators and lenders are under stress – hotel defaults, layoffs, and shutdowns loom. Prompt action is critical.

For the last three to five years the pundits have increasingly speculated that the longest economic recovery in history could not endure and that we were due for a recession. We hope that the extraordinary measures being taken now may defer some of the worst fears, but clearly the US economy has been plunged into distress, and the pain is particularly acute in hotels, restaurants and related travel and tourism businesses.

The shelter at home edits of the Federal, state and local governments are literally requesting that people stay at home for the next two weeks. Many hotels have plunged into single-digit occupancies and slashed revenues to cover fixed and operating expenses. Restaurants struggle to see if they can survive on takeout and delivery services alone. Furloughs and layoffs are imminent.

Lenders and borrowers alike are seeking relief, clarity, and resolution. It feels like some blend of the 1990s and 2008. And it is time to go back to the basics or distressed loans: Quick assessment, preparation of plans, transparency, communication, and cooperation for mutual benefit.

The lawyers who comprise JMBM’s Global Hospitality Group® have extensive experience and resources that can help hotel stakeholders answer these questions. The issues involved are too numerous to address in one article, and the answers will vary widely depending on each hotel asset and how it is structured.

Today’s article will address how the “structure” of hotel ownership and operations impact the interests of the various stakeholders.

Coronavirus: Creative strategies to mitigate financial impact
Loan defaults, lender rights & recapitalizations
Jim Butler and Guy Maisnik
JMBM’s Global Hospitality Group®

Facing the realities of low hotel occupancy and dwindling operating revenue

Lenders, equity providers, borrowers and operators are facing hard realities regarding the performance of their hospitality assets due to the Covid-19 pandemic.

What are the parties’ rights? What remedies can be pursued? What is the best approach for both the short term and the long term?

Understanding the structure of the hotel asset will help stakeholders answer these difficult questions.

The “operating business” is key

It is often said that hotels are a special real estate asset with an operating business. It really is the other way around: hotels should be thought of as a unique operating business first, within special purpose real estate. This is true not just for hotels, but for assets like timeshares, casinos, gasoline stations, movie theaters, and restaurants. The operating business comprises a large component of the asset’s value.

It is also the operating business that raises thorny problems when cash flow drops dramatically due to matters outside the control of any party – such as a global pandemic or a declaration of national emergency.

Identify and work with all stakeholders

It would be a serious mistake for any stakeholder to believe it holds all the cards in directing the final outcome on asset direction following a calamity. CONTINUE READING →

Published on:

24 January 2020

If you’re planning to attend the 2020 ALIS conference next week, we’d like to hear from you! Our Global Hospitality Group® attorneys are ready to discuss:

  • Successful hotel purchase strategies
  • Getting a great hotel management agreement
  • Optimizing your financing structure
  • Avoiding regulatory pitfalls in 2020
  • How to protect your company and comply with new cybersecurity regulations
  • Hotel industry litigation issues

Please contact us if you’d like to get in touch during the conference:

jim-150x150Jim Butler
Partner, Chairman
Global Hospitality Group®
guy-150x150Guy Maisnik
Partner, Vice Chair
Global Hospitality Group®
david-150x150David A. Sudeck
bob-150x150Robert E. Braun
jeff-150x150Jeffrey T. Myers
mark-150x150Mark S. Adams
Published on:

15 February 2019

$87 billion in hotel transactions involving more than 3,900 properties
LOS ANGELES—The hotel lawyers of JMBM’s Global Hospitality Group® are pleased to present their updated Hospitality Credentials, which include clients and projects that represent more than $87 billion in hotel transaction experience involving more than 3,900 properties worldwide – more than any other law firm.

“If you are a hotel owner, developer, or capital provider, our hospitality lawyers can provide expertise and experience you just won’t find elsewhere,” said Jim Butler, Chairman of JMBM’s Global Hospitality Group. “Whether you are buying or selling a hotel, developing a new one, need a privacy and cybersecurity plan, or defend an ADA lawsuit – we have lawyers who know the ropes, and can guide you every step of the way.”

JMBM’s Global Hospitality Group provides a full range of services to the hospitality industry including:

  • ADA compliance & defense
  • Cannabis
  • Celebrity chef agreements
  • Construction
  • Corporate governance
  • Cybersecurity
  • Data privacy
  • Development
  • Equity & joint ventures
  • Expert witness
  • Fiduciary duty
  • Financing
  • Foreign investment
  • Franchise & licensing
  • Hotel-specific contracts
  • Labor & employment
  • Land use & environmental
  • Leasing
  • Litigation
  • Management agreements
  • Mergers & Acquisitions
  • Opportunity Zone
  • Proposition 65
  • Purchase & sale
  • Shareholder disputes
  • Tax
  • Trademark & copyright
  • Trusts and estates
  • Union negotiations
  • Union prevention
  • Vacation ownership
  • Workouts, bankruptcies & receiverships
“Exceeding $87 billion in hotel transactions involving 3,900 properties is a new milestone, and one I am proud to announce,” said Butler. “I am grateful to all of our wonderful hospitality clients who have shown us their trust and confidence over the years and continue to provide us with challenging and meaningful work.”

About JMBM’s Global Hospitality Group
JMBM’s Global Hospitality Group is the premier hospitality practice in a full-service law firm and the most experienced legal and advisory team in the industry. The Group publishes the Hotel Law Blog and hosts the annual Meet the Money® National Hotel Finance & Investment Conference (May 6-9, 2019 in Los Angeles). For more information visit


Jim Butler
+1 310-201-3526

Published on:


Recently, a Chinese government delegation visited Jeffer Mangels Butler & Mitchell LLP.  The delegation included some of the highest-ranking officials from a top Chinese government agency – “China State Administration of Foreign Exchange” – an agency that directly oversees the investment of $3 trillion of China’s foreign reserve. CONTINUE READING →

Published on:

26 November 2018

Hotel Lawyers buying and selling hotels

Los Angeles—The Global Hospitality Group® of Jeffer Mangels Butler & Mitchell LLP is pleased to announce the recent sale of the Marriott Warner Center Woodland Hills. Located in the Warner Center business development in Woodland Hills, CA, the 478-room hotel sold for over $100 million. JMBM represented the seller in the transaction.

The Global Hospitality Group’s team included senior member David Sudeck, as well as associate Caleb Gilbert.

“Our priority is supporting our client’s continued growth and success,” said Sudeck. “The Woodland Hills sale is part of a strategic disposition of key assets.”

Hotel Lawyer insights on acquisitions and sales

The hotel lawyers of JMBM’s Global Hospitality Group® provide unsurpassed experience and resources to hotel owners, developers and capital providers in buying, selling, financing and branding hotels. Based on the Group’s experience with more than $125 billion of hotel transactions and more than 4,700 hotels, these resources are valuable for veteran dealmakers and first-time hotel buyers and sellers. Look at some of the materials available on and see how this experience can help you:


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