The Payne Hicks Beach team included Corporate Partner Jonathan Gatward, Property Senior Associate Marisa Beccarelli and Corporate Trainee Alice Harley. PKF Francis Clark advised Elite on accounting and tax matters and Norton Rose Fulbright acted for HSBC Bank, bankers to Elite. CMS acted for Arora.
Graeme Bateman, managing director of Elite, commented: “Naturally, we are sad to be parting company with Luton Hoo Hotel, but we do so in the knowledge that we have passed the custodianship of this wonderful property into safe hands. We wish Surinder Arora and his team at the Arora Group every success as they move Luton Hoo Hotel into a new era.”