Heyl Royster



Schag and Davies Complete Multi-Million Dollar Hotel Deal


Mike Schag and Ken Davies recently completed dealings on a multi-million dollar hotel transaction resulting in a Membership Transfer Agreement. The transaction resolved a dispute, and potential litigation, between the hotel’s two ownership entities – each holding a 50% interest. The firm represented the purchasing owner. The other owner had managed the property through a separate management company. The firm acquired detailed financial information through the use of a forensic auditor and, following negotiations, the client was able to obtain the entire hotel interest for $1.00 and additional scheduled damages payments from the non-purchasing former owner.