HICAP Deal of the Year Winners

Published October 2022
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 Reggie Shiu Development of the Year, Single Asset Transaction of the Year, and the Merger & Acquisition Deal of the Year Awards. The awards were presented during the HICAP event on 21 October 2022.

Andaz Bali – Bali, Indonesia was named Reggie Shiu Development of the Year. Andaz Bali, Hyatt’s newest luxury resort on the island, offers an immersive, modern take on traditional village life. Located in the seaside village of Sanur, the low-rise beachfront resort is built around existing mature trees, some of which wind through the guest rooms. Guests experience the relaxed pace of daily village life in a tranquil, elegant setting. The US$60 Million development was conceived by Hyatt and developed by P.T. Wynncor Bali. Architect Martin Palleros’s Bangkok-based Tierra Design Studio and interior designer Design Studio Spin, of Tokyo, brought the concept to life, with the full opening in September 2021. Finalists in this category also included Kimpton Kitalay Samui – Surat Thani, Thailand and Regent Phu Quoc – Kien Giang, Vietnam.

Hilton Sydney – Sydney, Australia was named Single Asset Transaction of the Year. The Hilton Sydney was acquired by Barings Private Equity (BPEA) for circa AUD$530 million and features 587 guest rooms and suites, multiple food and beverage offerings, large scale meeting facilities, as well as a sizeable retail component. BPEA successfully navigated the current challenging economic environment and fully delivered on their commitment, closing the transaction on the 5th of August 2022, thereby securing for their investors a true institutional quality asset with excellent long-term upside potential. JLL was exclusively appointed to manage a discrete sale process on behalf of the seller Glory Property for this landmark recently refurbished luxury property. This is the largest ever single hotel asset transaction closed in Australia and the first mega hotel deal to occur post-pandemic. Finalists in this category also included Kimpton Kitalay Samui – Surat Thani, Thailand and Primus Hotel Sydney – Sydney, Australia

W Maldives and Sheraton Maldives Full Moon Resort & Spa – Maldives was named Merger & Acquisition of the Year. The acquisition of W Maldives and Sheraton Maldives Full Moon Resort & Spa by an affiliate of KSL Capital Partners from Universal Enterprises and Marriott International closed on 27 June 2022 for an undisclosed amount. This represents one of the largest open-market transactions in the Maldives, reinforcing the Maldives’ position as a destination for institutional capital. The resorts are located on their own private islands and offer a combination of overwater villas, beach villas, and extensive guest amenities amid a diverse biosphere of marine life immediately surrounding the islands. The other finalists in this category were Australian Travelodge Portfolio – Australia and Kanpo-no-Yado Portfolio – Japan.