Forsters advises Hero Enterprise on a £500 million hospitality joint venture with Catalyst Capital
India’s Hero Enterprise and Catalyst Capital have formed a £500 million joint venture to invest in hospitality projects in the UK and Ireland.
Forsters advised Hero Enterprise on the formation of the joint venture, which creates the vehicle Hero Catalyst Hospitality Ventures which will acquire and develop hotels, serviced apartments and hospitality-led projects. This further develops Forsters' experience in the hotels sector.
Hero Catalyst Hospitality Ventures plans to develop more than 1,000 hotel rooms and serviced apartments in Manchester and Edinburgh.
Hero Enterprise is part of the Munjal Family’s Hero Group, which has evolved from being the world’s largest bicycle maker to the world’s largest producer of motorbikes through Hero MotoCorp, its flagship company.
Catalyst Capital has invested more than €7 billion in nine countries, with €2 billion under management. It is developing the 224-room serviced apartments for Staycity at Manchester’s Mason Street.
The Forsters Corporate Real Estate team advising Hero on the joint venture comprised Corporate Partner Alastair Laing, Head of Commercial Real Estate Matthew Swainston, Senior Associate Peter Selwyn and Tax Partner Heather Corben.
To find out more about Forsters' hotels experience click here.