HICAP ANZ announced the winner of its prestigious Development of the Year and Transaction of the Year Awards on September 1, 2023, at the Sofitel Sydney Darling Harbour in Sydney, NSW, Australia.
The presentation of some of the Australian hotel industry’s most anticipated and prestigious awards topped off a successful two days for this year’s HICAP ANZ event.
HICAP ANZ is the annual meeting place for the Australian and New Zealand hotel and tourism industry and this year’s event was attended by some of the accommodation industry’s most powerful movers and shakers. Leaders and investors embraced the chance to connect, network and share insights about the latest trends in hotel investment and development, as well as numerous deal-making opportunities.
The winners of the prestigious Development of the Year award and the deal of the year were announced on the final day…
ACE Hotel Sydney in Sydney, NSW, Australia, was named Development of the Year, and the Transaction of the Year award went to Spicers Retreats Portfolio in NSW & QLD.
The HICAP Australia New Zealand (HICAP ANZ) Development of the Year Award recognises a newly built, redeveloped, or repositioned (after significant product renovations and/or enhancements) hotel that opened, reopened, or completed their repositioning in Australia or New Zealand between July 1, 2022, and June 30, 2023.
The winning hotel, ACE Hotel Sydney entered the market in October 2022 with much anticipation, developed and owned by Golden Age Group, and located only minutes from Sydney’s CBD in the beloved neighborhood of Surry Hills.
At the heart of this establishment are its 264 upper upscale guest rooms. These are well supported by an array of amenities, including multiple F&B outlets (Lobby Bar, all-day café, signature 108-seat rooftop restaurant, 50-seat all-day restaurant), plus over 400 sqm of event space. Complexity in the development saw the integration of Bates Smart as the primary architect, with Interior Designers Flack Studio and Fiona Lynch. The project was delivered on time and on budget for an undisclosed amount.
HICAP ANZ Transaction of the Year award went to Spicers Retreats Portfolio in NSW & QLD, Australia.
The transaction included acquiring six luxury retreats (110 Keys), the management of three third party owned retreats (79 Keys), management of the Scenic Rim Walk (38 Keys), the Spicers management company and all associated brands for A$127 Million. The acquisition also required the rehiring of some 360 staff across the portfolio.
Finalists in the category also included the Escarpment Portfolio in NSW, Australia and the Rydges Sydney Harbour in The Rocks, NSW, Australia.
Dean Dransfield of Dransfield Hotels & Resorts chaired the Development of the Year Award committee. David Simpson of Axsia HTL chaired the Transaction of the Year Award committee. The committees were comprised of hotel industry leaders who selected, reviewed, and nominated deals.
The finalist information was then sent to the HICAP ANZ delegates for voting.
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