Proskauer Reps AccorHotels On Boutique Chain Buy

Law360 (August 2, 2018, 3:31 PM EDT) -- Proskauer Rose LLP has represented AccorHotels in connection with the company's $51 million acquisition of an 85 percent stake in Louisville, Kentucky-based boutique hotel operator 21c Museum Hotels, the firm said.

The Paris-based hotel giant will pay $51 million, including a potential earn-out payment, for its majority stake in the company, which operates boutique hotels that include contemporary art museums and quality restaurants. 21c Museum Hotels operates eight museum hotels in cities around the country and has three more properties in development, according to a Tuesday statement.

21c Museum Hotels was founded in 2006 by Louisville philanthropists and contemporary art collectors...

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