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of the Year Awards at the International Hotel Investment Forum |
| March 31, 2003 - NH Hoteles, Accor & Orient Express were winners
of the Deal of the Year Awards, held March 13, 2003 at the International
Hotel Investment Forum (IHIF) in Berlin, Germany. Over 1,000 of the
hotel industry�s top leaders were on hand to congratulate the winners.
The prestigious Portfolio Deal of the Year Award went to NH Hoteles
for their €130 million purchase of Germany�s third largest domestic
operator, Astron Hotels with 53 properties in Germany, Austria & Switzerland,
as well as a pipeline of 22 new developments. The deal was judged
to be a strong strategic fit with considerable cost economies and good
cross-selling opportunities. The other finalists in this category
were Rotch Group, Farnsworth Group and Bank of Scotland�s limited partnership
€527.5 million sale and leaseback of 10 Hilton Group hotels and Orb
Estates� €979 million purchase of 37 Thistle Hotels.
Bob Lewis, Director International Hotel Property Services for PKF, who co-presented the Awards commented: �The judges were again impressed with the high standard of the deals nominated in all categories, indicating that investors, hoteliers and funders continue to find innovative ways to create added value�. Michael Hirst, Consultant for Insignia Hotels and co-presenter agreed: �Once again the winning deals have proved that, despite the current unsettled outlook, European hotel investors and operators are creating growth opportunities which deserve the recognition accorded by these prestigious awards.� |
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Bob Hayes, BHN Telephone: + 949 574 8500 Email: [email protected] |
