COSTA MESA, California, USA — Winners of the Deal of the Year Awards were announced recently at the 19th annual Hotel Investment Conference Asia Pacific (HICAP), held October 15-17, 2008, at the InterContinental Hong Kong. BHN and Horwath HTL hosted the event, which this year registered approximately 800 delegates.
GIC’s purchase from Morgan Stanley of the 488 room Westin Tokyo, Tokyo, Japan was the winner in the Merger & Acquisition category. The deal was valued at approximately US$700million. Nominees included: the InterContinental Westlake, Hanoi, Vietnam and the Park Hyatt Sydney, Australia.
The Reggie Shiu Development of the Year Award went to the 320 room Crowne Plaza, Changi Airport, Singapore. Opened in May 2007, the property was developed by LC Development in partnership with LaSalle Investment Management, and is operated by InterContinental Hotels Group. Nominees included: the JW Marriott and the Ritz-Carlton, Beijing, China and the Hilton Niseko Village, Hokkaido, Japan.
The Innovation award was also presented at HICAP. This year’s recipients were Jerry Allison, Don Goo and Greg Tong, the legendary namesakes of the renowned architecture firm WATG.