HICAP Deal of the Year winners announced

George Sell By George Sell
19 October 2018 | Updated 19 October 2018

Hong Kong: The organisers of the annual Hotel Investment Conference Asia Pacific (HICAP), have announced the winners of the 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. 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 per cent 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.

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