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Business news, 10.03.2006 12:43
Deal of the Year Awards Presented at the International Hotel Investment Forum in BerlinHosts of the 9th International Hotel Investment Forum (IHIF) have announced the winners for the prestigious Deal of the Year Awards. The Awards were presented 8 March 2006 at the InterContinental Hotel in Berlin, Germany, in the categories of Single Asset Deal of the Year, Portfolio Deal of the Year and Best New Development of the Year.
The winner of the Single Asset Deal of the Year Award is Kingdom Hotel International for the acquisition of the Savoy Hotel, London, UK, which was sold by Maybourne Hotel Group. Other nominees were Orient Express for the acquisition of the Grand Hotel Europe in St. Petersburg, Russia and The Quinn Group for the acquisition of The Belfry in Warwickshire, UK.
The winner of the Portfolio Deal of the Year Award is Starwood Capital Europe Limited for the acquisition of Société du Louvre, which was sold by Tattinger. Other nominees were Managed Hotels Unit Trust (RBS/Egal Ahouvi) for the acquisition of 15 UK Hiltons and LRG Acquisition Limited for the acquisition of 73 InterContinental Hotels. LRG Acquisition Limited is a consortium comprising Lehman Brothers Real Estate Partners, GIC Real Estate and Realstar Asset Management.
The winner of the Best New Development Deal of the Year Award is Four Seasons Hotels & Resorts for the Four Seasons Hotel, in Hampshire, UK. Other nominees were Rezidor SAS Hospitality and Hochtief AG for the Radisson SAS Hotel in Frankfurt, Germany and MWB Group plc for the Hotel du Vin in Henley-on-Thames, UK.
About this year’s Deal of the Year Awards, IHIF co-host Jim Burba, president of Burba Hotel Network said, “The high level of deal activity in Europe in 2005 produced some great candidates for the Awards and the screening committee found the best in our business to honor with the coveted Deal of the Year Awards. All of the nominees were very deserving of winning. We are looking forward to another robust year of deals based on how 2006 has begun and if the optimistic mood at the recently held conference is any indication.”
News source: asiatraveltips.com
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