Deal of the Year Awards Winners Announced at the International Hotel Investment Forum in Berlin, Germany

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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