30 September 2020 - Events
International law firm Withers has represented Marriott International on its sale of 2 major hotel and hospitality assets in Fiji to the Fiji National Provident Fund (FNPF). The US$131 million transaction is Fiji’s largest ever hotel deal.
The five-star 300-room Sheraton Fiji Resort, the next door 276-room Westin Denarau Island Resort & Spa and the 110-hectare Denarau Golf & Racquet Club, are prime locations within Denarau Island – Fiji’s top holiday destination. Marriott International will remain as the operator of the assets under long-term management agreements.
Robert Williams, Asia Pacific leader of Withers’ hotels and hospitality team, comments, “This is a significant deal for Marriott International, FNPF and the Fiji tourism sector, involving prime assets on the popular Denarau Island. The transaction further deepens Marriott’s partnership with FNPF, who already own the Fiji Marriott Resort Momi Bay. Our international team is delighted to be part of this significant project, both in terms of scale and strategic importance to Marriott International.”
Robert led the Withers team, working with Sydney partner Justin Gross, and Richard Naidu’s team at Munro Leys in Fiji.
Withers represents leading owners and operators in the sector. The team specialises in acquisitions and sales of hotels and resorts, mixed-use hotel projects, negotiating hotel management, franchising and leasing deals, operating platform M&A transactions, and providing capital raising, fund structuring and vacation ownership advice.