Aldersgate and Park Plaza art′otel joint venure

14 March 2008

Aldersgate Investments Limited, a Reuben Brothers vehicle entered today into a 50:50 joint venture with Park Plaza Hotels Limited to develop a new apart-hotel under the 'art'otel' brand in Hoxton, in the City of London. Total payment received by Aldersgate for the 50% stake was £11 million.

Denton Wilde Sapte represented Aldersgate Investments Limited and Norton Rose represented Park Plaza Hotels Limited.