Osborne Clarke's Hotels Group has advised longstanding client, Starwood Hotels & Resorts, Worldwide, Inc. (NYSE:HOT), on the sale by Sheraton Hotels (U.K.) plc of its leasehold interest in The Park Lane Hotel, London to Sir Richard Sutton’s Settled Estates. Starwood will continue to operate The Park Lane Hotel under a new long-term management agreement under the Sheraton brand.

Ideally situated in Mayfair in the heart of London, The Park Lane Hotel, faces Green Park and is walking distance to Buckingham Palace, the boutiques on Bond Street, and London’s West End theatres. The 303 room hotel features two restaurants, including afternoon tea at the Palm Court, and 16,700 square feet of meeting space for business meetings and social functions.

Osborne Clarke lead transaction partner and head of hotels group, Kalpesh Tanna, said: "We have worked with Starwood as a valued client since 2007 and are delighted to have advised in relation to the disposal of this iconic London hotel. We are experiencing continued transactional activity in the hotels sector, including significant single assets such as this, as well as portfolio transactions."

 Osborne Clarke’s hotels team are experts in buying, building, branding, financing and operating hotels internationally and this transaction closely follows representing Topland Group on its £85 million acquisition of a portfolio of 12 Menzies Hotels and head office. The Osborne Clarke team advising Starwood also comprised Louise Grzasko (Corporate), Nick Simpson (Real Estate), Michael Bell (Tax) and Ben Truman (Finance).