AJ Capital Partners acquires Macdonald Rusacks Hotel, St Andrews, and the Randolph Hotel, Oxford


Travers Smith LLP has advised Adventurous Journeys Capital Partners (AJ Capital Partners) on its acquisition of the Macdonald Rusacks Hotel and the Macdonald Randolph Hotel from the Macdonald Hotels & Resorts portfolio.

AJ Capital Partners has outlined a major expansion and refurbishment of the ionic 70-room hotel in St Andrews starting next spring.  The reconfigured hotel will feature additional rooms, a rooftop bar and restaurant overlooking the 18th hole of the old course and the historic Swilcan Bridge. The project is expected to be completed in time for the 150th open championship in July 2021.

The 151-key Randolph hotel will also be renovated and will join AJ Capital Partner's Graduate Hotels® collection, which was launched in 2014 and operates 21 hotels in university towns across the United States.

These acquisitions follow on from the acquisition of the DoubleTree by Hilton Hotel Cambridge City Centre which was acquired by AJ Capital Partners in July 2019, a transaction on which Travers Smith also advised.

The Travers Smith team was led by Corporate Partner William Howard and included Corporate Associate Alexander Cohen-Santi, Real Estate Partner Paul Kenny, Real Estate Associate Gareth Wynne, Finance Partner Daniel Peel and Finance Associates Michael Leadbeater and Daniel Domb.

Specialist advice was provided by Tax Partner Maddie Gowlett, Tax Associate Silvana Van der Velde, Operational Risk Partner Doug Bryden, Operational Risk Associates John Buttanshaw and Harrie Narain, Employment Partner Adam Wyman and Employment Associates Charmaine Pollock and Clare Skinner, Head of Construction & Engineering Ryan Fordham and Commercial Associates Sonny Mallet, Anita Sivapalan, Rowan Armstrong and Sarah Robinson.

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