Hong Kong – The winners of the Reggie Shiu Development of the Year and Single Asset Transaction of the Year were announced today at the Hotel Investment Conference Asia Pacific (HICAP), being held at the InterContinental Hong Kong. HICAP is hosted by BHN, Horwath HTL, and Stiles Capital Events.
The winner of the Reggie Shiu Development of the Year Award was Hoshinoya Tokyo, Japan. Tokyo’s first luxury ryokan, “Japanese style hotel”, is distinguished by its kimono motif facade. Guests enter through three-meter tall solid hiba doors, remove their shoes before stepping onto the tatami floor and are guided to elevators opening with the sound of hyōshigi. Each floor has six guestrooms with furniture custom-made by Japanese craftsmen, and features a serviced “Ochanoma” lounge with working and dining areas, and relaxing oversized sofas. On the top floor, a natural hot spring – a first in central Tokyo – offers indoor and outdoor baths. Main dining serves nouvelle ryokan cuisine by Executive Chef Noriyuki Hamada, Bronze medalist at the 2013 Bocuse d’Or world chef championship. Developed by MITSUBISHI ESTATE; Operated by Hoshino Resorts; Architecture by Mitsubishi Jisho Sekkei, NTT FACILITIES; and Interiors and Façade by Rie Azuma. Finalists in this category also included Alila Solo, Indonesia, and the Nai Harn, Phuket, Thailand.
The winner of the Single Asset Transaction of the Year Award was the 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. The sale represents the highest ever price per key paid for a single asset in Asia. The sale fulfilled IHG’s strategy of partnering with a long term strategic investor who would oversee a comprehensive renovation of the property to reaffirm the hotel’s position as Hong Kong’s pre-eminent luxury waterfront property. The transaction aligns with the buyer’s strategy for acquiring a core, trophy asset for their portfolio. The sale is the most significant trophy hotel to have transacted in the Hong Kong market in over a decade, underpinning the rarity of this trophy transaction. Finalists in this category also included the Hotel Grand Pacific Le Daiba, Tokyo, Japan and Surfers Paradise Marriott Resort & Spa, Queensland Australia.
For additional information on HICAP visit http://www.HICAPconference.com.