| BERLIN, Germany: 21 February 2007 - Hosts of the 10th International
Hotel Investment Forum (IHIF) have announced the finalists for the prestigious
Deal of the Year Awards. The Deal of the Year Awards will be presented
7 March 2007 at the InterContinental Hotel in Berlin, Germany, in the categories
of Single Asset, New Development, and Portfolio.
Finalists in the Single Asset category are the
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Statuto Group�s purchase of the 118 room Four Seasons Milan (Italy) from
Quinlan Private for a reported price of €220 million,
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Hyatt International�s and JER Partners�s purchase of the 267 room Great
Eastern Hotel (London, UK) from Blackstone and Conran Holdings for £150
million, and
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Strategic Hotels and Resorts� purchase of the 236 room Marriott London
Grosvenor Square (UK) from Blackstone for a reported ?103 million.
Finalists in the New Development category are the
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279 room Hilton Manchester Deansgate (UK), developed by the Beetham Organisation
at a cost of £50million;
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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;
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and the 205 room The Hoxton Hotel (London, UK), developed by Willow Street
Hotel Ltd. at a cost of ?18 million.
Finalists in the Portfolio category are
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Hilton Hotels Corporation�s acquisition of Hilton International Co. for
approximately £3.3 billion in cash,
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Morgan Stanley Real Estate Fund�s (MSREF) acquisition of seven European
InterContinental Hotels Group properties for £440million,
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and The Royal Bank of Scotland�s acquisition of the Marriott Joint Venture
properties from Whitbread and Marriott International for £951million.
Regarding the Deal of the Year Awards, IHIF co-host Jim Burba, president
of Burba Hotel Network said, �The year 2006 was a very active one for �deals�
in Europe, and this is reflected in both the quantity and quality of all
the candidates from which the finalists were selected by the nominating
committee.�
About the hosts:
Questex Media Group, Inc. is a global, diversified business-to-business
integrated media provider, headquartered in Newton, MA.
Burba Hotel Network (BHN) brings together more than two decades of experience
in developing and organizing the world�s most prominent gatherings
of the hotel and tourism investment community, including the Americas Lodging
Investment Summit (ALIS) in Los Angeles, the International Hotel Investment
Forum (IHIF) in Berlin, the annual Caribbean Hotel and Tourism Investment
Conference (CHTIC), the Hotel Investment Conference Asia Pacific (HICAP)
held in Hong Kong, and the Bolsa Mexicana de Inversion Turistica (BMIT)
in Mexico City.
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