From top developments to single asset deals and big mergers and acquisitions, ALIS presented its annual deal awards at its 24th annual event.
LOS ANGELES – The Americas Lodging Investment Summit (ALIS)
announced its winners for the ALIS Awards. Among these finalists are hotels, companies,
and executives who are responsible for the most influential hotel industry
deals in 2024. Nominees for the awards are evaluated based on outstanding
business performance in various industry sectors.
Evermore Orlando Resort in Orlando, Florida, was named Development of the Year
(Full Service) 2024 (includes branded and unbranded - luxury and upper upscale
chain scales, and casinos). The Evermore Orlando Resort opened in January 2024
for $1 billion, revolutionizing how families and friend groups vacation in
Orlando, Florida. Dart Interests developed a truly groundbreaking luxury
destination resort combining 433 hotel rooms at the flagship Conrad Orlando
with 316 resort owned short-term rentals where groups can choose options
ranging from 2-bedroom villas to 11-bedroom private luxury homes. Families get
the private gathering space of a vacation rental with resort amenities and
services, onsite dining, and 24/7 security, all set along Orlando’s first and
only beach paradise, Evermore Bay, with 20 acres of crystal-clear waters and
sandy white beaches. Finalists in this category also included Populus Denver in
Denver, CO, and Signia by Hilton Atlanta Georgia World Congress Center in
Atlanta.
Tempo by Hilton Nashville Downtown in Nashville, Tennessee, was named
Development of the Year (Select/Limited Service) 2024 (includes branded and
unbranded - upscale, upper midscale, midscale, and economy chain scale). On
February 15, 2024, the 306-room Tempo by Hilton Nashville Downtown opened in
the Nashville Yards location of downtown Nashville. Opening significantly ahead
of schedule and under budget, the Tempo Nashville was only the second Tempo by
Hilton branded property to open in the US. The hotel’s extensive program and
creative design was developed by HRI Hospitality for an amount more than $100 million
and is managed by HRI Hospitality’s affiliate, HRI Lodging. Finalists in this
category also included citizenM Boston Back Bay in Boston and Gale Miami Hotel
& Residences in Miami.
Arizona Biltmore Resort in Phoenix, Arizona, was named Single Asset Transaction
of the Year (Over US$25M) 2024. In May 2024, Henderson Park acquired the
Arizona Biltmore Resort for $705 million in partnership with Western &
Southern Financial Group and Pyramid Global Hospitality from Blackstone. This
sale represented the second largest single-asset transaction of 2024. Opened in
1929, the Frank Lloyd Wright influenced, AAA Four-Diamond resort, spans 39
acres in the heart of Phoenix, featuring 749 guestrooms and villas, 200,000
square feet of meeting space, a 28,000 square foot spa and 7 food &
beverage venues. At closing, Henderson Park secured $460 Million CMBS financing
and the brand conversion to an LXR Resort by Hilton operated by Pyramid.
Finalists in this category also included Hyatt Regency Orlando in Orlando and W
Hotel South Beach in Miami Beach.
The Chatham Inn Relais & Chateaux in Chatham, Massachusetts, was named
Single Transaction of the Year (US$25M & Under) 2024. On March 1 2024, Inn
Partners LLC sold a 95% share of The Chatham Inn Relais & Chateaux, a
Forbes Five Star rated luxury 18 room inn, to Noble House Hotels & Resorts,
which has assumed all operations and continued participation in Relais & Chateaux.
Inn Partners’ co-principal Jeff Ippoliti will oversee the initial integration
and final entitlement phase for 6 new luxury suites on the property’s 3rd
floor. The $17 million acquisition price ($944,444/room) allows Noble House
Hotels & Resorts to enter a strategic, high barrier to entry growth market
with rate and expansion upside at this luxury property. Finalists in this
category also included Hotel De Anza in San Jose, California, and The Roxbury
Experience in Roxbury, New York.
Graduate Hotels acquired by Hilton was named Merger & Acquisition of the
Year 2024. In May 2024, Hilton acquired the Graduate Hotels brand, including
franchise agreements for existing and future properties, from AJ Capital
Partners for $210 million. AJ Capital Partners retained real estate ownership
of the existing Graduate properties under new long-term Hilton franchise
agreements. Finalists in this category also included G6 Hospitality acquired by
Oravel Stays (OYO) and Standard International acquired by Hyatt Hotels Corp.
William Hodges, chairman, CEO and co-founder at Hodges Ward Elliott, was named
Jack A. Shaffer Financial Advisor of the Year 2024. Finalists in this category
also included Jeffrey Davis, managing director at Eastdil Secured, and
Lawrence Kwon, managing director at Moelis & Co.