HICAP DEAL OF THE YEAR AWARD WINNERS ANNOUNCED
Hong Kong (19 October 2018) – The organizers of the annual Hotel Investment Conference Asia Pacific (HICAP), announced the winners for the Reggie Shiu Development of the Year, Transaction of the Year, and the Merger & Acquisition Deal of the Year Awards. The awards were presented at the 29th annual HICAP, on 19 October 2018 at the Kerry Hotel Hong Kong.
YOTEL Singapore Orchard in Singapore was named Reggie Shiu Development of the Year. The 610-Key YOTEL Singapore Orchard is a unique concept leveraging technology and design to drive extraordinary cost efficiencies for owners and unique experiences for guests. Introducing self check-in and checkout technology as well as guest service robots to the Singapore hotel market, YOTEL’s success proves “micro” hotel rooms (13-16 sqms) don’t belong only in the Economy segment. Efficiency in space programming, focused predominantly on rooms with leased F&B venues and a lean operating model, generates strong profitability and return on investment. For an unknown brand in Asia,
YOTEL has been able to achieve rapid ramp up and strong Year-to-Date performance. Involved in this development were: Owner: Hong Fok Corporation; Operator: YOTEL; Lender: United Overseas Bank; Architecture and Interiors: DP Architects; Development Cost: USD63 Million (approx.). Finalists in this category also included Fairmont Maldives, Sirru Fen Fushi and The Murray Hong Kong, A Niccolo Hotel.
Cheval Blanc Randheli in the Maldives was named Transaction of the Year. Following a bespoke process, the Resort was marketed - and sold - for over USD200 million, representing the largest single asset transaction and the only significant trophy sale to have taken place in the Maldives. At a price exceeding USD4.5 million per key, the sale represented the highest price per key ever achieved for a hotel asset globally while being backed by sound investment returns.
Cheval Blanc Randheli in the Maldives was named Transaction of the Year. Following a bespoke process, the Resort was marketed - and sold - for over USD200 million, representing the largest single asset transaction and the only significant trophy sale to have taken place in the Maldives. At a price exceeding USD4.5 million per key, the sale represented the highest price per key ever achieved for a hotel asset globally while being backed by sound investment returns.
The Resort is globally recognized as one of the world’s leading hotels and the sale offered a generational opportunity for the buyer to acquire a luxury asset in one of the world’s most exclusive resort destinations. The sale also cemented Maldives’ importance as one of the region’s leading markets for investment with over USD1 billion of activity since 2010, and demand from a broad spectrum of Asian and Middle Eastern investors. Finalists in this category also included the Sheraton Fiji Resort, Westin Denerau Island Resort & Denerau Golf & Racquet Club and the Sheraton Grande Tokyo Bay.
IHG’s acquisition of a majority stake in Regent Hotels & Resorts was named M&A Deal of the Year. To support IHG’s growth in the fast growing $60 billion luxury segment, the company acquired a 51% stake in Regent Hotels & Resorts in July 2018. IHG took control of the brand and the operating business from the deal closure enabling the hotels to benefit from IHG’s platform. IHG sees a real opportunity to unlock the brand’s enormous potential and accelerate its growth globally from the six hotels today to more than 40 hotels in the long term.
IHG’s acquisition of a majority stake in Regent Hotels & Resorts was named M&A Deal of the Year. To support IHG’s growth in the fast growing $60 billion luxury segment, the company acquired a 51% stake in Regent Hotels & Resorts in July 2018. IHG took control of the brand and the operating business from the deal closure enabling the hotels to benefit from IHG’s platform. IHG sees a real opportunity to unlock the brand’s enormous potential and accelerate its growth globally from the six hotels today to more than 40 hotels in the long term.
Regent will be positioned in the space above InterContinental Hotels & Resorts and the team is evolving Regent’s brand positioning, while protecting what made the brand special. As part of the deal IHG announced plans to rebrand InterContinental Hong Kong to a Regent, after a full refurbishment, which will see the hotel return to its roots as it first opened its doors in 1980 as Regent Hong Kong. Finalists in this category also included Mantra Group acquisition by AccorHotels and the acquisition of KSL Capital Partners’ Outrigger Asia Pacific assets by Singha Estate.
Please visit the HICAP website for additional information, www.HICAPconference.com.
Please visit the HICAP website for additional information, www.HICAPconference.com.
ABOUT HICAP
HICAP is Asia’s largest and longest running hotel investment event, making it the most important gathering of hotel developers, investors, lenders, operators, and other industry executives for information exchange, trend spotting, and deal making. The 2018 conference had a record attendance, attracting over 850 delegates from around the world. The 30th annual HICAP, will be held 16-18 October 2019 at the Kerry Hotel Hong Kong. HICAP is produced by Northstar Travel Group in association with BHN, Horwath HTL, and Stiles Capital Events.
ABOUT NORTHSTAR TRAVEL GROUP (www.northstartravelgroup.com)
Northstar Travel Group is the global leader of business intelligence, information, data, research, digital marketing services and events for senior-level professionals in the travel, meetings and hospitality industries. The Northstar portfolio includes; Travel Weekly, Travel Weekly China, Travel Weekly Asia, TravelAge West, Business Travel News, The Beat, Travel Procurement, Web in Travel, Phocuswright, Burba Hotel Network, Successful Meetings, Meetings & Conventions, Meetings & Conventions China, Incentive, Association News, Sports Travel and 75 annual events in thirteen countries including leading events such as the Americas Lodging Investment Summit (ALIS), Hotel Investment Conference Asia Pacific (HICAP), Phocuswright, TEAMS, Web in Travel, and Mountain Travel Symposium. Northstar is also the majority shareholder in Inntopia, the leading SaaS e-commerce software, CRM database marketing and predictive analytics business serving the mountain destination, activities, and specialty destination travel markets. Northstar Travel Group is owned by EagleTree Capital and is based in Secaucus, NJ, with offices in New York, NY; Denver, CO; Los Angeles, CA; Winston-Salem, NC; Stowe, VT; Edwards, CO, Glen Ellyn, IL, Costa Mesa, CA, and global offices in Singapore, Beijing, and Shanghai.
ABOUT BURBA HOTEL NETWORK (BHN)
BHN is the worldwide leader in developing and organizing conferences for the hotel and tourism investment community. With over three decades of experience, more than 150 events completed to-date, and in excess of 100,000 international delegates, BHN conferences have become “must attend” events for industry leaders who come together to network, conduct business, and to learn about the latest trends. BHN events include: the Americas Lodging Investment Summit (ALIS) in Los Angeles; ALIS Law in Los Angeles; ALIS Summer Update; Alternative Ownership Conference Asia Pacific (AOCAP) in Singapore; Caribbean Hotel & Resort Investment Summit (CHRIS) in Miami; Hotel Investment Conference Asia Pacific (HICAP) in Hong Kong; HICAP UPDATE in Singapore; Hotel Investment Forum India (HIFI) in Mumbai; Hotel Opportunities Latin America (HOLA) conference in Miami; Hotel Investment Conference Europe (Hot.E) in London; and HotelsWorld in Sydney. The BHN website at www.Burba.com is the gateway for information about the conferences BHN produces, as well as a direct link to important players in the hospitality investment world. BHN is a division of Northstar Travel Group.
ABOUT HORWATH HTL
Horwath HTL is the world’s largest hotel industry specialized consulting organization, currently with 45 offices in 38 countries. Since the set-up of Asia Pacific operations in 1987, Horwath HTL – Asia Pacific has been involved with thousands of projects throughout the region in all phases of the property lifecycle for clients ranging from individually owned businesses to the world’s most prominent hotel companies, developers, lenders, investors, and industrial corporations. Horwath HTL currently operates out of regional offices in Tokyo, Beijing, Shanghai, Hong Kong, Bangkok, Singapore, Jakarta, Kuala Lumpur, Mumbai, Sydney, and Auckland.
ABOUT STILES CAPITAL EVENTS LLC (SCE)
Stiles Capital Events LLC (SCE) has been involved in event management, communications and marketing in the publishing, entertainment and hospitality industries since 1989. SCE has been associated with the development and organization of the Hotel Investment Conference Asia Pacific (HICAP) since its inception and the subsequent launches of HICAP UPDATE in 2009 and AOCAP (Alternative Ownership Conference Asia Pacific) in 2014 together with partners BHN (Burba Hotel Network) and Horwath HTL. SCE is based in the San Francisco Bay Area.
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