Executives and companies responsible for the most influential hospitality industry developments in 2013, will be honored during a lunch on Tuesday during the Americas Lodging Investment Summit (ALIS), January 27-29 at the JW Marriott and NOKIA Theatre at L.A. LIVE. Nominees are considered for the awards based on outstanding business performance in various industry sectors. The 2013 awards finalists include:
Development of the Year 2013
- Opened in June 2013, in downtown Chicago’s River North neighborhood, the 664-room triplex comprised of aloft, Hyatt Place, and Fairfield Inn & Suites, was developed by White Lodging and Friedman Properties, Ltd. The complex is managed by White Lodging.
- The 378-room Courtyard and 261-room Residence Inn New York Manhattan/Central Park opened December 29, 2013, as the tallest hotel-only building in North America. The hotels were developed by veteran real estate developer Harry Gross and are managed by Interstate Hotels and Resorts.
- The 316-room The Langham Chicago in the iconic, Mies Van Der Rohe designed, former IBM Building in downtown Chicago opened in July 2013. The originating local developer/development manager was Oxford OG Hospitality Chicago, LLC (an Oxford Capital Group, LLC led venture that also included senior principals of interior design firm Gettys in conjunction with Pacific Chicago, LLC and Great Eagle Holdings).
Single Asset Transaction of the Year 2013
- A joint venture between Rockpoint Group and Ohana Real Estate sold the 354-room Bacara Resort and Spa in Santa Barbara, California, to Pacific Hospitality Group for $185 million in February 2013.
- Carey Watermark Investors acquisition of Hawks Cay Resort, the largest resort in the Florida Keys with 177 rooms and more than 250 villas in a resort residential management program, from a Behringer Harvard led joint-venture for $133.8 million.
- Ashford Hospitality Trust purchase of the 142-room Pier House Resort & Spa in Key West, Florida, for $90 million from The Jacobs Group.
Merger & Acquisition of the Year 2013
- BRE Select Hotels Corp., an affiliate of Blackstone Real Estate Partners VII, acquired Apple REIT Six, for $1.2Bn.
- Hyatt Hotels Corporation invested a total of $325 million in Playa Hotels & Resorts B.V., consisting of $100 million for a 20% ownership stake and $225 million in convertible preferred stock.
- Ashford Hospitality Trust spun off Ashford Hospitality Prime to its existing shareholders, which began trading on the NYSE at $21.25 per share and is approximately ~$1Bn in aggregate value.
Jack A. Shaffer Financial Advisor of the Year 2013
- Jacques E. Brand, Co-Head Corporate Finance, Deutsche Bank
- Mark E. Schoenholtz, Managing Director, Eastdil Secured
- John Strauss, Managing Director, Jones Lang LaSalle
Co-hosted by the American Hotel & Lodging Association (AH&LA) and Burba Hotel Network (BHN), the two-and-a-half-day ALIS event features an extensive array of seminars and panels hosted by leading experts and investors discussing important trends and identifying new opportunities. The conference attracts the lodging industry’s leading hotel executives, investors, lenders, developers, and professional advisory community. Proceeds from ALIS benefit the educational, research, and training missions of the American Hotel & Lodging Education Foundation (AH&LEF), AH&LA’s nonprofit affiliate. For information on the Foundation, visit www.ahlef.org.
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