Fontainebleau, Moxy/AC are top developments at ALIS Awards

LOS ANGELES — The Fontainebleau Las Vegas and Moxy/AC Hotel Downtown Los Angeles were awarded Development of the Year in their respective categories of the ALIS Awards.

The Fontainebleau Las Vegas was named Development of the Year in the full-service category, which includes luxury and upper-upscale chain scales and casinos, including branded and unbranded hotels.

Sixteen years after its groundbreaking, the Fontainebleau opened in December. The 67-story, $3.7-billion luxury resort and casino is named after its sister hotel in Miami and will be the tallest occupiable building in Las Vegas.

Other finalists in the category were the Omni PGA Frisco Resort in Frisco, Texas and The St. Regis Chicago.

The awards were announced on the second day of the Americas Lodging Investment Summit (ALIS) at the JW Marriott at L.A. Live in Los Angeles.

The Moxy/AC Hotel Downtown Los Angeles was named Development of the Year in the select/limited-service category, which includes upscale, upper midscale, midscale, and economy chain scale for branded or unbranded hotels. The development also includes Level 8, a unique and aggressive food and beverage play that takes up an entire floor of the 36-story property and includes eight different bars and restaurants.

Other finalists in the category included citizenM Menlo Park in Menlo Park, California and Residence Inn by Marriott San Francisco Airport Millbrae Station in Millbrae, California.

Other awards

The Diplomat Beach Resort in Hollywood, Florida, was named Single Asset Transaction of the Year (Over $25 million). Honolulu-based Trinity Real Estate Investments partnered with Credit Suisse to acquire the 1,000-key property from Brookfield Properties on February 3 for $835 million. At the time, it was reported by CoStar to be the largest hotel deal since the beginning of the pandemic, excluding trades of resorts in Las Vegas. Other finalists in this category included Royal Isabela in Isabela, Puerto Rico and The Inn at Rancho Santa Fe in Rancho Santa Fe, California.

Bear Valley Mountain Resort in Bear Valley, California, was named Single Transaction of the Year ($25 million & under) in 2023. The California Mountain Resort Company acquired the property from Skyline International in November. Other finalists in this category included Best Western Ocean Breeze Inn in Hilton Head Island, South Carolina and Comfort Inn The Pointe in Niagara Falls, New York.

KSL Capital Partners’ $1.4 billion acquisition of Hersha Hospitality Trust was named Merger & Acquisition of the Year. The all-cash transaction was the first REIT to trade hands in many years. The deal saw KSL take 25 luxury and lifestyle hotels private. Other finalists in this category included Marriott International’s acquisition of City Express Hyatt Hotels’ acquisition of Dream Hotel Group.

(From left:) Jonathon Zink, COO of The BHN Group; Kevin M. Davis, Americas CEO of JLL Hotels & Hospitality; and Thomas J. Corcoran Jr., president of TCOR Hotel Partners.

Kevin Davis, Americas CEO of JLL Hotels & Hospitality, was named Jack A. Shaffer Financial Advisor of the Year. Other finalists in this category included Zach Eckler, managing director of Goldman Sachs and Eric Guerrero, senior managing director & partner, brokerage & advisory for HVS.

Lifetime Achievement Award

David Kong, former president and CEO of Best Western Hotels, was given the ALIS Lifetime Achievement Award. He worked for Best Western for 20 years before retiring in 2021. He previously worked at KPMG Consulting, Hyatt Hotels, Hilton and Omni Hotels & Resorts.

Kong is currently the founder and principal of Arizona-based nonprofit DEI Advisors, which is dedicated to empowering women and minority groups to achieve their career aspirations.

Jeff Higley, president of The BHN Group and Lifetime Achievement Award winner David Kong.

The award is presented to individuals who have made significant contributions to the hospitality industry through their actions, deeds and accomplishments.

 “Being recognized alongside industry legends whom I have long admired is both humbling and heartening,” Kong said. “My sincere thanks to the exceptional team with whom I had the privilege of working. Together, we turned seemingly impossible dreams into reality, making my career journey incredibly fulfilling and gratifying.”