ISHC also gives Schrager its Pioneer Award
A pair of hotels flying Marriott Intl. flags were named developments of the year for 2016 at the Americas Lodging Investment Summit (ALIS) awards presentation in Los Angeles. In addition, Marriott’s acquisition of Starwood Hotels & Resorts was named merger and acquisition of the year.
Nominees for the awards are based on outstanding business performance in various industry sectors and determined by ALIS sponsors and delegates. The winners for 2016 are:
Development (Full Service): Marriott Marquis Houston, a 1,000-key hotel developed and owned by RIDA Development Corp. and ARES Management, and managed by Marriott.
Development (Select/Limited Service): Courtyard by Marriott New York Downtown Manhattan/World Trade Center, a 317-key hotel developed by Robert Finvarb Cos. and Hidrock Properties and managed by Concord Hospitality Enterprises Co.
Single Asset Transaction: LondonHouse Chicago. An affiliate of Union Investment Real Estate purchased the 452-room hotel for $315 million through a sale-lease-management back transaction from an Oxford Group LLC-led venture with Angelo, Gordon, & Co. This hotel was also a finalist in the Best Lobby Upscale category in the 2016 Gold Key Awards for Excellence in Hospitality Design. The winning space was designed by Simeone Deary Design Group.
Merger & Acquisition: Marriott Intl.’s $14.6 billion buy of Starwood Hotels & Resorts
Jack A. Shaffer Financial Advisor: Amish Barot, managing director/head of Americas, REGAL, Deutsche Bank.
Lifetime Achievement Award: Thomas J. Corcoran, Jr., board chairman and co-founder, FelCor Lodging Trust.
In addition to the honors above, which were announced at the ALIS Awards Gala Jan. 24, the International Society of Hospitality Consultants (ISHC) named Ian Schrager the recipient of its Pioneer Award. John Fareed, president, ISHC and David Neff, chair, ISHC made the presentation.
ISHC Pioneer Award: Ian Schrager, chairman and ceo, Ian Schrager Co.
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