Benson Elliot and Walton Street in partnership with Algonquin SA’s portfolio acquisition from Host Hotels & Resorts European JV was named Merger & Acquisition/Portfolio of the Year.

Hotel Investment Conference Europe (Hot.E) Announces
Deal of the Year Award Winners

London, UK - Burba Hotel Network (BHN), host of the Hotel Investment Conference Europe (Hot.E) 2016, announced the winners of the Hot.E Deal of the Year Awards in the categories of Merger & Acquisition/Portfolio of the Year and Single Asset Transaction of the Year. The awards were presented at Hot.E on 27 September 2016, at the Hilton London Bankside.

Benson Elliot and Walton Street in partnership with Algonquin SA’s portfolio acquisition from Host Hotels & Resorts European JV was named Merger & Acquisition/Portfolio of the Year. A portfolio of eight hotels were acquired from Host Hotels & Resorts’ European Joint Venture by a joint venture between Benson Elliot and Walton Street in partnership with Algonquin SA, for approximately €420m. The highly complex negotiations involved properties in five countries and share transactions in six, with multiple parties on both sell-side and buy-side, third-party hotel managers and incoming/outgoing lenders. The seller has refocused its European portfolio, returning meaningful value to partners and shareholders and leveraging the timing of the cycle to exit. The acquirer has materially increased their European hotel presence with opportunities to grow income and value in a sector attracting increasing attention from investors. Finalists in this category also included Apollo International Management’s acquisition of Project Ribbon from LRG and Kew Green Hotels’ acquisition by China Travel Services.

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The Hot.E Deal of the Year Awards were established to recognize the companies responsible for some of the most influential hospitality industry investments occurring in the European marketplace over the course of the past year. Charles Human of HVS Hodges Ward Elliott chaired the Merger & Acquisition/Portfolio of the Year Award committee, and Chris Day of Christie + Co chaired the Single Asset Transaction of the Year Award committee. The two committees were comprised of hotel industry leaders who selected, reviewed, and nominated deals. The finalist information was then sent to the Hot.E delegates for voting.