Finalists have been announced for the Merger & Acquisition Deal of the Year and Reggie Shiu Development of the Year Awards, to be presented at the 21st annual Hotel Investment Conference Asia Pacific (HICAP), scheduled for 13-15 October 2010, at the InterContinental Hong Kong. HICAP is hosted by BHN, Horwath HTL, and Stiles Capital Events.
Finalists for the HICAP Merger & Acquisition Deal of the Year Award are:
Four Points by Sheraton, Sydney - Singapore's Michael Kum acquired Australia's largest and one of its most strategically located hotels - the 630-room Four Points by Sheraton at Darling Harbour from GPT Group for a reported AD185 million. The purchase included adjacent office, retail and restaurant spaces.
Niseko Village Japan - Malaysia's YTL Hotels and Properties acquired the Niseko Village destination resort - inclusive of two hotels, totaling 706 rooms, two 18-hole golf courses, the adjacent ski mountain and 461 hectares of freehold land from Citigroup Principal Investments for US$66 million.
Ibis Singapore on Bencoolen - Michael Kum, through a local subsidiary, acquired the 538-room Ibis hotel through a private sale from LaSalle Asia Opportunity Fund II and Accor SA for an undisclosed price.
Finalists for the Reggie Shiu Development of the Year Award are:
Doubletree by Hilton, Kula Lumpur - This 540-room hotel forms the centerpiece of an intergrated mixed-use redevelopment in the heart of downtown Kuala Lumpur. The extensive US$50 million renovation of the public spaces and refurbishment of guest rooms resulted in the successful repositioning of a former sub-grade property.
The Upper House, Hong Kong - The 117-room hotel on top of a hotel is a redevelopment project in a prominent location, establishing Swire Hotels as a trend setter in the regional hotel industry.
Marina Bay Sands - The iconic 2,561 room property is part of a USD 6 billion integrated resort complex forming the focal point of Singapore's emerging Marina Bay district as a world class business, convention and leisure destination.
Also to be presented at HICAP are The Sustainable Hotel Awards, recognizing hotels in the Asia Pacific region demonstrating exemplary sustainable best practices.
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. Approximately 700 delegates attended the 20th annual HICAP held in October 2009 in Hong Kong.