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Deal of the Year Awards Winners announced in Berlin

Search ASIA Travel Tips .com Latest Travel News Thursday, 6 March 2008

The 11th International Hotel Investment Forum's prestigious Deal of the Year Awards were presented yeserday, 5 March 2008, at the InterContinental Hotel in Berlin, Germany. Winners were determined by a vote of the IHIF sponsors and were presented at the Fourm by the respective chairs of each nominating committee: Single Asset chair, Philip Johnson, Savills; New Development chair, Russell Kett, HVS; and Portfolio chair, Timothy Lloyd-Hughes, Deutsche Bank.

The Single Asset category winner was London & Regional Properties' purchase of the 619 room The Fairmont Monte Carlo in Monaco from a joint venture between Bank of Scotland Corporate, Kingdom Hotels International & Fairmont Hotels & Resorts for around 300m Euros. Nominees included Global Hyatt Corporation's purchase of the remaining share of the 267 room Andaz Liverpool Street (formerly the Great Eastern Hotel) in London, UK from JER for an undisclosed price and FIMIT's purchase of the ForteVillage Resort Sardinia asset and Robur S.r.l.'s acquisition of the operating company, for an  aggregate purchase price of 312m Euros from LBFV LLC, a subsidiary of Lehman Brothers.

The New Development category winner was the 50 room Haymarket Hotel in London, UK, developed by Tim and Kit Kemp (Firmdale Hotels) at 32m BPS. Nominees included the 160 room The Charles Hotel-Munich in Munich, Germany developed by Frankonia Eurobau AG at an undisclosed cost and the 46 room Yotel Gatwick in West Sussex, UK, developed by Yotel Airports Limited, also at an undisclosed cost.

The Portfolio category winner was the EQT acquisition of 132 Scandic properties from Hilton Hotels Corporation for 833m Euros. Nominees included Accor - Various Asset Disposals - 30 Ibis and Novotels to Land Securities for 711m Euros and 91 German and Netherlands hotels to Moor Park Real Estate for 863m Euros; and Blackstone Group's acquisition of Interhotel from Deutsche Bank and Aareal Bank for an undisclosed price.

See other recent news regarding: Airlines, Aviation, Hotels, Hotel Investment, ITB, Berlin, Deal of the Year, Awards

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