• 12 December 2018
Reggie Shiu Development of the Year and Single Asset Transaction of the Year will be Announced at HICAP

Reggie Shiu Development of the Year and Single Asset Transaction of the Year will be Announced at HICAP

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Award finalists have been announced for the Reggie Shiu Development of the Year and Single Asset Transaction of the Year. Awards will be presented at the Hotel Investment Conference Asia Pacific (HICAP), scheduled for 19-21 October 2016 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:

ALILA SOLO, INDONESIA – Built within nine futuristic towers from 11 to 27 stories, guests enjoy 270-degree views from the AGRA rooftop bar (the highest entertainment venue in Central Java), swims in a near-Olympic-sized landscaped pool and world class concerts in the 2,100 square meter ballroom, the largest venue of its kind in the country with a purpose-designed light-paneled ceiling. Alila Solo already achieves premium RevPAR performance and first rank out of the 58 hotels in Solo on TripAdvisor. Developed by PT Narendra Lentera Adisakti; Lender: CIMB Niaga; Operated by Alila Hotels & Resorts; Architecture and Interiors by Denton Corker Marshall, Indonesia

HOSHINOYA TOKYO, JAPAN – Tokyo’s first luxury ryokan is first noted by its distinctive kimono motif facade. Custom crafted guestroom furniture ensures comfort before soaking in the deep, black resin bathroom tub surrounded by optionally frosted glass walls. Each floor, with just six guestrooms, features a common lounge with worktables, dining areas and relaxing oversized sofas. On the top floor, a natural hot spring – a first in central Tokyo – offers indoor and outdoor baths. Developed by a JV between Mitsubishi Estate, Mitsubishi UFJ Trust, and Banking Corp, Urban Renaissance Agency; Operated by Hoshino Resorts; Architecture by Mitsubishi Jisho Sekkai, NTT Facilities; Interiors and Façade by Azuma Architect & Associates

THE NAI HARN, PHUKET, THAILAND – This unique 30-year old property was in perpetual decline before being fully reimagined, with an exhaustive top-to-bottom/inside-out renovation, into a striking contemporary luxury resort with 18 percent more and enlarged rooms (130 in total). Terracing up the hillside at the northern end of Nai Harn Beach, overlooking a picturesque bay and moored yachts, all rooms feature uninhibited sea views and naturally lit bathrooms. With the repositioning affording significant increases in RevPAR and net operating income, the stabilized value of the property is expected to double its total acquisition and development cost. Owned and Operated by SC Capital Partners; Lender: CIMB; Architecture by Habita; Interiors by P49

Finalists for the Single Asset Transaction of the Year Award are:

HOTEL GRAND PACIFIC LE DAIBA, TOKYO, JAPAN – The largest hotel deal to date involving a Japanese company, Hotel Grand Pacific Le Daiba was acquired by Japanese developer Hulic and Okura Nikko Hotel Management from railway operator Keikyu Corporation in May 2016 for JPY60 billion (approx. USD590 million).

INTERCONTINENTAL HONG KONG – In September 2015, the iconic InterContinental Hong Kong was acquired by Supreme Key Limited (a consortium of investors managed by Gaw Capital) from InterContinental Hotels Group (IHG) for USD938 million. The transaction represents the largest single hotel transaction ever in Asia Pacific and the second largest globally

SURFERS PARADISE MARRIOTT RESORT & SPA, QUEENSLAND AUSTRALIA – In this deal, Bensonlily Surfers Paradise Pty Ltd (owned by Thailand-based KS Hotels & Resorts) acquired two-thirds’ interest in the iconic Surfers Paradise Marriott Resort & Spa from Marriott Vacations Worldwide Corp (MVW) for AUD70 million or approximately USD50 million.

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, please visit the HICAP website.

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