The organizers of the annual Hotel Investment Conference Asia Pacific (HICAP) announced the winners of the HICAP Deal of the Year Awards in the categories of HICAP Reggie Shiu Development of the Year, HICAP Single Asset Transaction of the Year, and the
HICAP Merger & Acquisition of the Year Awards. The HICAP Deal of the Year Awards highlight the most dynamic deals and developments and honor the ongoing achievements of our industry’s leaders. The awards were presented during the 33rd annual HICAP
on 24 October 2023 at the Fairmont Singapore & Swissotel The Stamford.
Capella Sydney was named Reggie Shiu Development of the Year. Capella Sydney, developed by Pontiac Land Group opened on 15th March 2023. The project, developed at a cost of over AUD $300 Million is an exemplar of adaptive re-use, converting an historic
government building in an exceptional hospitality destination, demonstrating how civic buildings can be honored while also being repurposed for future generations, contributing to the heritage fabric of the city. The refurbishment and creation of
new hospitality venues opens a previously inaccessible building to the public. The reinvention engages guests in the narrative of the historic building and integrates carefully crafted heritage elements to provide a luxurious hotel environment. Finalists
in the category also included Pan Pacific Orchard in Singapore and Pullman Singapore Orchard in Singapore.
The RIHGA Royal Hotel Osaka in Osaka, Japan was named Single Asset Transaction of the Year. On March 31, 2023, BentallGreenOak (BGO) acquired a 1,039 room Osaka landmark, The RIHGA Royal Hotel Osaka, from Royal Hotel KK. The transaction was privately
negotiated and the price was undisclosed. This iconic center-city full-service hotel features 1,039 rooms and suites, 18 restaurants and bars, and Osaka’s largest banquet and conference facilities (nearly 8,000 square meters). Simultaneously with
the acquisition, BGO entered into a capital alliance with Royal Hotel KK and became a 33% shareholder (and the largest shareholder) of the Tokyo Stock Exchange-listed hotel management company. As new owner of The RIHGA Royal Hotel Osaka, BGO has already
begun a transformational JPY 13.5 Billion renovation of the hotel, and upon completion will rebrand it as The RIHGA Royal Hotel Osaka, Vignette Collection. The RIHGA Royal Osaka will be IHG’s first Vignette Collection hotel in Japan and IHG’s largest
hotel in the country. Finalists in the category also included Harbour Rocks Hotel in The Rocks, Australia and Havodda Maldives Resort in the Maldives.
Seibu Portfolio in Japan was named Merger & Acquisition of the Year. In September 2022, GIC completed the acquisition of a portfolio of hospitality assets, comprising 26 hotels, golf courses and ski resorts across Japan from Seibu Realty Solutions. The
acquisition followed a competitive bidding process, aiming to identify a new owner for the properties on a manage-back to Seibu Prince Hotels Worldwide. The total acquisition price was JPY 123.7 Billion (c.USD $870 Million), representing the largest
hotel portfolio transaction in Japan since 2007. Finalists in the category also included Daiwa Resort Portfolio in Japan and Spicers Retreats Portfolio in Australia.