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Accor Congratulates Hotels Investment World ‘Hotel Deals of the Year’ Winners

July 25, 2014 Accolades No Comments Email Email

Winners of the inaugural HotelsWorld ‘Deal of the Year’ Awards were announced at the Hotels Investment World conference in Sydney last week with two Accor portfolios featuring in the two property deal categories.

The award for Deal of the Year under $50 million went to leading Australian hotel owner, Dr. Jerry Schwartz for his purchase of Accor’s ibis Sydney King Street Wharf hotel.

Global investment heavyweight, Abu Dhabi Investment Authority (ADIA) received the award for Deal of the Year over $50 million for its record-breaking $800 million purchase of Australia largest hotel owner, Tourism Asset Holdings with a portfolio of 31 properties including Novotel and Ibis Darling Harbour Sydney, Novotel and Ibis at Sydney Olympic Park, and Novotel Canberra.

Accor Pacific Chief Operating Officer, Simon McGrath, said: “The Awards are significant in that they recognise both one of the most established hotel real estate players in the Australian market – the Schwartz Family Company – and also one of the newest entrants, ADIA.

“The awards reflect the buoyant state of the market with both existing and new players prepared to invest in Australian tourism property. “This interest highlights the potential of the industry and its ability to produce long-term results for diligent owners.

“The HotelsWorld Investment conference is a key event for the accommodation industry and we are thrilled that two companies so closely linked to Accor have been recognised in the Deals of the Year Awards. We congratulate Dr. Schwartz and ADIA on these significant industry accolades.”

The awards were judged by a voting panel of 20 leading Australian hotel industry professionals. Eligible transactions included single asset sales, multiple and portfolio sales and other forms of transactions such as mergers and acquisitions. Asset categories covered the entire field of accommodation types including hotels, resorts and serviced apartments.

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