COSTA MESA, California, USA — Awards for Deal of the Year and Development of the Year were announced at the Hotel Investment Conference Asia Pacific (HICAP), held 12-14 October in Hong Kong. The 16th annual HICAP drew a record crowd of nearly 600 of the hospitality industry’s top executives.
Colony Capital’s S$1.45 billion acquisition of Raffles Hotels & Resorts and Swissotels & Resorts won the prestigious Deal of the Year award. Other nominees were Eureka Funds Management’s purchase of InterContinental Hotels Group’s Australian & New Zealand Hotel Portfolio, LaSalle Investment Management’s purchase of Sansiri’s Hotel Sofitel Silom Bangkok, and Rockpoint Partners, Da Vinci and Pacific Holdings Trust’s purchase of the Hilton Guam Resort & Spa.
The 399 room Four Seasons Hong Kong won the first Reggie Shiu Development of the Year award. Opened in September 2005, the hotel was designed by Cesar Pelli & Associates and developed by Sun Hung Kai and Henderson Land. Other nominees were The Landmark in Hong Kong, the Holiday Inn Bangkok, and Banyan Tree Ringha. The award is named in honor of Reggie Shiu, an Accor Asia Pacific executive, who was lost in the tsunami that hit the Khao Lak beachside in southern Thailand in December 2004. Shiu was an active member of the HICAP planning committee.
About this year’s winners, HICAP co-founder and co-host Rob Stiles of Sonnenblick Goldman Company said, “As evidenced by the outstanding nominees, this year will has seen a record volume of hotel transactions in Asia and Colony’s acquisition of the Raffles and Swissotel portfolios represents the largest and boldest transaction recorded in the region.” Stiles also noted, “On the development front, while a number of high-quality developments provided keen competition, the stunning harbor-front Four Seasons Hong Kong was voted the standout project for the first annual HICAP Reggie Shiu Development of the Year award.”