Hong Kong – Winners of the Hotel Investment Conference Asia Pacific (HICAP) Merger & Acquisition Deal of the Year, Single Asset Transaction of the Year, and the Reggie Shiu Development of the Year Awards were announced today at the 22nd annual HICAP, held at the InterContinental Hong Kong. HICAP is hosted by BHN, Horwath HTL, and Stiles Capital Events.
The acquisition of Rosewood Hotels & Resorts by New World Hospitality for USD229.5 in July 2011 was the winner of the HICAP Merger & Acquisition Deal of the Year Award. Rosewood Hotels & Resorts, with an international collection of luxury hotels, will operate as the premium ultra-luxury brand in New World Hospitality’s portfolio.
The HICAP Single Asset Deal of the Year voting resulted in a tie between the Crown Plaza Changi Airport Hotel in Singapore and the Laguna Beach Resort in Phuket, Thailand. Overseas Union Enterprise Limited (OUE) acquired the 320-key Crowne Plaza Changi Airport Hotel from joint owners Runway 38 Limited and LC Hotels Pte Ltd, for SGD 293m (USD 243m), representing the largest single hotel transaction in Asia Pacific in 2011 year-to-date. A subsidiary of Real Estate Capital Asia Partners II purchased the 254-room Laguna Beach Resort in for THB1.45b (USD 47m) from joint owners Laguna Hotels & Resorts LLC and Inter-Pacific Group in May 2011.
The Ritz-Carlton, Hong Kong, received the Reggie Shiu Development of the Year Award. The hotel opened March 2011 with 312 rooms, occupying floors 102-118 of the International Commerce Centre, a 262,000sqm mixed-use tower in the West Kowloon financial hub that towers over all of Hong Kong. The entire tower was developed by Sun Hung Kai Properties at a cost of HKD29b.
The 23rd annual HICAP will be held 10-12 October 2012, at the InterContinental Hong Kong. Additional information is available at www.HICAPconference.com .