Hong Kong – Award finalists have been announced for the Reggie Shiu Development of the Year, Single Asset Transaction of the Year, and Merger and Acquisition of the Year. Awards will be presented at the Hotel Investment Conference Asia Pacific (HICAP), scheduled for 14-16 October 2015 at the InterContinental Hong Kong. HICAP is hosted by BHN, Horwath HTL, and Stiles Capital Events.
Finalists for the Reggie Shiu Development of the Year Award are:
- Club Med Finolhu Villas, Maldives
Nestled in beautiful natural surroundings on a 5-hectare island are 52 Eco Nature Villas designed around four themes: beauty, nature, elegance, and memories. Respecting all the norms for eco construction, the villas maintain a perfect balance between modern luxury and the natural charm of the Maldives. Particularly, noteworthy are 6,000 square meters of solar panels artfully integrated into the resort’s design in the covering of the paths between the resort’s jetty and water villas and generating up to 1 megawatt of electricity each day capable of satisfying 100% of the properties energy needs. Strategically landscaped to minimize erosion, the isle also has a desalination tank that generates a self-sufficient water supply and an efficient waste management system.
Developed by Hussein Afeef
Operated by Club Med
Architecture by Yuji Yamazaki
Interiors by Meriem Hall
- Rosewood Beijing, China
This 283-room ultra-luxury hotel is the result of an extensive two-year retrofit and refurbishment of the lower floors of the 53-storey Jin Guang Centre in the city’s prime Chaoyang District. The building’s exterior of Mongolian bluestone, with an interior of diverse volumes, is meant to recall the ruggedness of a mountain. After arriving at an inner courtyard, guests enter the hotel and are surrounded by tranquil interiors. The neutral palette creates a subtle backdrop for the impressive array of paintings, photographs, mixed-media pieces, and sculpture by renowned Beijing and China artists. Contemporary furnishings with traditional Chinese touches decorate the six restaurants, Manor Club lounge, spa, and residential-style guest rooms.
Developed by New World Development
Operated by Rosewood Hotels & Resorts®
Interiors by BAR Studio & PLandscape
- The Temple House, Chengdu, China
Comprising 100 guest rooms and 42 serviced residences, The Temple House is an integral part of the Chengdu Daci Temple Cultural and Commercial Complex that surrounds historic Daci Temple. Designed with respect for the site’s history and local culture and artistry, a number of traditional courtyard buildings have been restored and incorporated into the hotel’s design, including the hotel’s entrance set in a building first built in the Qing Dynasty. The three-dimensional woven façade combines modern design with traditional Chengdu architectural elements of timber, brick and step stones.
Developed by Chengdu Qianhao RE Co. Ltd. (JV b/t Swire Properties and Sino Ocean Land)
Operated by Swire Hotels
Architecture by Make (UK), in collaboration with Tsinghua University (heritage buildings restoration)
Interiors by Make (rooms + public areas)/ AVROKO (F&B outlets)
Finalists for the Single Asset Transaction of the Year Award are:
- Hilton Sydney, Australia
One of the largest single hotel transactions to have taken place in Australia, the Hilton Sydney Hotel was acquired for AUD442 million by Singapore-based Bright Ruby. The transaction included negotiation of a new 50-year hotel management agreement with seller Hilton Worldwide. The Hilton Sydney was the only asset owned outright by Hilton in Australia. The acquisition marks the first hotel investment in Australia for Bright Ruby.
- Outrigger Konotta Maldives Resort, Maldives
In September 2014, OKM Private Limited, a wholly-owned subsidiary of Outrigger Enterprises Group, purchased the partially completed Konotta Maldives Resort from Aima Construction and Platinum Capital Holdings. In just 10 months, the property underwent an aggressive completion programme that included the total redesign of all public areas and rooms product, opening on August 1 with 29 beach pool villas (4 newly constructed), 21 overwater pool villas and a new 509sqm three-bedroom overwater Presidential villa. The resort was acquired for around USD800,000 per key exclusive of the additional costs to expand villa inventory and finishing costs to complete the development. In the first three months of operation, rooms revenue has exceeded initial operating underwriting by 132%, with ADR up 11% over the original forecast. The transaction involved disposal of a non-performing loan and a complicated sale process requiring intense co-operation between the principals, lending consortium and creditors for a successful outcome, and the entire redevelopment was delivered on time and on budget.
- Sofitel Sydney Darling Harbour, Australia
The acquisition of the Sofitel Sydney Darling Harbour by cosmetic surgeon and hotelier Dr Jerry Schwartz, being developed by Lend Lease and to be managed by AccorHotels, marks the development of Sydney’s first, major new-built 5-star hotel in more than 15 years. The hotel, purchased for an estimated AUD360 million, is scheduled to be completed in Q3 of 2017. At 590 rooms, the hotel will be the largest luxury hotel in Sydney by number of rooms, and will anchor the new circa AUD3.4billion Darling Harbour Live international convention, exhibition and entertainment center precinct. The transaction also has the distinction of being the first pre-sale/turnkey hotel sale in Sydney in at least a generation, and arguably the only one of its kind in Australia.
Finalists for the Merger and Acquisition of the Year Award are:
- AccorHotels and China Lodging Group Alliance
In an alliance between AccorHotels and China Lodging Group (CLG) that signed in December 2014, AccorHotels becomes CLG’s second largest shareholder, and CLG will become the exclusive master franchisee for AccorHotels’ economy and midscale brands in Mainland China, Mongolia and Taiwan. The alliance creates one of the most prominent and diversified hotel companies in China with more than 2500 hotels and a very robust pipeline, and should accelerate both groups’ expansion in what is one of the world’s largest and fastest-growing domestic and outbound travel markets.
- ADIA Acquisition of Stake in New World Development Hotels in Hong Kong
In what is the sovereign wealth fund’s largest Asian property investment to date, with a regional record of USD1.35 million per key, Abu Dhabi Investment Authority (ADIA) acquired a 50% interest in New World Development Co’s Grand Hyatt Hong Kong, Renaissance Harbour View and Hyatt Regency Tsim Sha Tsui for HKD18.5 billion (USD 2.4 billion). Proceeds from the joint venture are expected to be used by New World to fund its other development projects including the upcoming New World Centre Development in Tsim Sha Tsui.
- Hoshino Resorts Inc. Acquisition of 4 ANA Hotels from MSREF
In August 2015, Hoshino Resorts Inc. acquired four large-scale, full-service ANA Crowne Plaza hotels in key suburban markets in Japan from Morgan Stanley’s MSREF portfolio, totaling 1,229 rooms for nearly JPY 40 billion (USD333 million) in one of the largest hotel investments in Japan in recent years. Marketed through a ferocious closed bidding process that involved Japanese and foreign investors, this was a complex transaction featuring complicated property structure and cash flow, for an unusually high number of rooms in a single deal for a recognized brand name.
The Sustainable Hotel Awards will also be presented at HICAP, recognizing hotels in the Asia Pacific region demonstrating exemplary sustainable best practices. For additional information on HICAP visit www.HICAPconference.com.