New World Hospitality wins 2011 HICAP award
19 October 2011
Hong Kong-based hotel company New World Hospitality was recently named winner of the HICAP Merger & Acquisition Deal of the Year Award at the 2011 HICAP awards. The Hong Kong-based firm won the award for its acquisition of Rosewood Hotels & Resorts for US$229.5 million in July. Rosewood Hotels & Resorts, with an international collection of luxury hotels, will operate as the premium ultra-luxury brand in New World Hospitality’s portfolio.
The HICAP Single Asset Deal of the Year voting resulted in a tie between the Crown Plaza Changi Airport Hotel in Singapore and the Laguna Beach Resort in Phuket, Thailand. Overseas Union Enterprise Limited (OUE) acquired the 320-key Crowne Plaza Changi Airport Hotel from joint owners Runway 38 Limited and LC Hotels Pte Ltd, for SGD 293m (US$ 243m), representing the largest single hotel transaction in Asia Pacific in 2011 year-to-date.
A subsidiary of Real Estate Capital Asia Partners II purchased the 254-room Laguna Beach Resort in for THB1.45b (US$47m) from joint owners Laguna Hotels & Resorts LLC and Inter-Pacific Group in May 2011.
Meanwhile, the Ritz-Carlton, Hong Kong, received the Reggie Shiu Development of the Year Award.The hotel opened March 2011 with 312 rooms, occupying floors 102-118 of the International Commerce Centre.
About 800 delegates attended the 22nd annual hotel investment event held 12-14 October 2011 at the InterContinental Hong Kong.
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