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Hosts of the 10th International Hotel Investment Forum (IHIF) have announced the winners of the prestigious Deal of the Year Awards. The
awards were presented 7 March 2007 at the InterContinental Hotel in Berlin, Germany. Winners were determined by a vote of the IHIF sponsors
and were presented at IHIF by the respective chairs of each committee: Single Asset chair, Philip Johnston, Director-Head of Hotels, Savills; New
Development chair, Russell Kett, Managing Director, HVS International; and Portfolio chair, Timothy Lloyd-Hughes, Managing Director,
Deutsche Bank.
The Single Asset category winner was The Statuto Group’s purchase of the 118 room Four Seasons Milan (Italy) from Quinlan Private for a
reported price of €220 million. Nominees included Hyatt International and JER Partners’ purchase of the 267 room Great Eastern Hotel (London,
UK) from Blackstone and Conran Holdings for £150 million and Strategic Hotels and Resorts’ purchase of the 236 room Marriott London
Grosvenor Square (UK) from Blackstone for a reported ₤103 million.
The New Development category winner was the 99 room Mandarin Oriental, Prague (Czech Republic), developed by a private equity fund at a
cost of €50 million and acquired after opening by a newly formed joint venture between Cedar Capital Partners and Morgan Stanley. Nominees
included the 279 room Hilton Manchester Deansgate (UK), developed by the Beetham Organisation at a cost of £50 million and the 205 room The
Hoxton Hotel (London, UK), developed by Willow Street Hotel Ltd. at a cost of ₤18 million.
The Portfolio category winner was Hilton Hotels Corporation’s acquisition of Hilton International Co. for approximately £3.3 billion in cash.
Nominees included Morgan Stanley Real Estate Fund’s (MSREF) acquisition of seven European InterContinental Hotels Group properties for
£440 million and The Royal Bank of Scotland’s acquisition of the Marriott Joint Venture properties from Whitbread and Marriott International for
£951 million.
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