Sydney, 15 February 2008 – Baker & McKenzie has advised the new owners of the Sheraton Grand Shanghai Tai Ping Yang Hotel, a joint venture led by LaSalle Investment Management, in their negotiations with Starwood Hotels and Resorts on a new management agreement for the hotel.

Baker & McKenzie worked closely on the deal with the LaSalle Investment Management team, led by Andrew Heithersay.

"China is one of the hottest hotel markets globally in terms of growth and development. Shanghai is a vibrant gateway city for China, and retaining an operator of Starwood's quality for the hotel was important for the owner," said Robert Williams, who led the Baker & McKenzie team.

"The majority of the work on this exciting transaction was done out of our Sydney office, working with our colleagues in our Hong Kong and Shanghai offices. We have developed a recognised expertise in hotel management agreements, and in conjunction with our overseas offices, are acting on hotel development and management deals across Asia. We have worked recently for LaSalle on hotel projects in Bangkok, Phuket, Singapore and Hong Kong." says Mr Williams.

Baker & McKenzie's global hotels team is led by Graeme Dickson, who is based in the firm's Sydney office. Mr. Dickson commented: "The documentation and skills required for successfully developing these agreements are very portable, so we are able to bring our hotel industry experience to any region of the world, and then customise the agreement to meet the client's special needs. We understand the commercial spectrum and industry practice, so can generate significant commercial benefit for our clients."