DLA Piper advises Harbert Growth Partners in its investment in WhyHotel
DLA Piper is pleased to announce that the firm represented Harbert Growth Partners as lead investor in the Series B financing of WhyHotel, a Washington, DC-based alternative lodging service that operates pop-up hotels in newly built, luxury apartment buildings.
WhyHotel plans to use the funds to fuel its national expansion and offer additional products and services to guests. The company is also preparing for a number of additional hires to continue to invest in the infrastructure required for the real estate sales, marketing, revenue and technology teams. In addition, WhyHotel plans to continue ramping up Hospitality Living, the real estate development arm of the company, with the goal of delivering the first development in 2022.
"We're proud to bring together our capabilities in venture capital with our deep experience in the real estate and hospitality sectors to advise Harbert Growth Partners in this high-profile transaction," said DLA Piper partner Eric Grossman, who led the firm's deal team.
In addition to Grossman (Northern Virginia), the DLA Piper Corporate team representing Harbert Growth Partners included of counsel Matthew VanderGoot (Northern Virginia), as well as Sandra Kellman, global co-chair of the Hospitality and Leisure practice, and Real Estate partner Mariah DiGrino (both of Chicago).
DLA Piper's Emerging Growth and Venture Capital practice includes more than 200 lawyers in the US who provide strategic counsel to emerging companies in high-growth industries, including technology, life science, consumer and hospitality, healthcare and media, sports and entertainment. In 2018, the firm handled more than 800 venture capital financings totaling over US$11.3 billion.
The firm's Hospitality and Leisure practice represents a multibillion-dollar global industry, covering a broad range of services. With years of regional and global experience and a proven track record in the sector, DLA Piper lawyers advise investors, developers, owners and operators on a multitude of hospitality and leisure opportunities. The practice has been recognized by Law360 as a Hospitality Practice Group of the Year multiple times.