(Save the date: RealShare L.A.comes to the Hyatt Regency Century Plaza in Los Angeles, CA on March 27, 2013)
LOS ANGELES- Two massive single-property real estate projects in New York, along with Blackstone Real Estate Partners‘ $1.9-billion acquisition of Accor SA’s budget-hotel portfolio in North America, were feted Wednesday as the three “most influential hotel industry deals” of 2012 here at the annual Americas Lodging Investment Summit.
Robert Stiles of the newly formed RobertDouglas-Hotel Capital Advisors was named the industry’s top financial advisor, while Las Vegas icon Michael A. Leven of hotel and casino giant Las Vegas Sands Corp. was honored with the Lifetime Achievement Award.
The annual ALIS gathering concludes today with more than a dozen panels that focus on trends in the lending business. The conference is jointly organized by the Washington, DC-based American Hotel & Lodging Association and the Costa Mesa, CA-based Burba Hotel Network.
Conrad New York, a 463-unit all-suite hotel in Lower Manhattan, was named the group’s Development of the Year. It was created by investment-banking giant Goldman Sachs and is managed by Virginia-based Hilton Hotels & Resorts.
The “Single Asset Transaction of the Year” award went to the team of Chicago-based Strategic Hotels & Resorts and New York City-based KSL Capital Partners LLC, which pooled their resources to buy the 509-room Essex House in Manhattan from Saudi Arabia’s Dubai Investment Group. Valued at $362 million, the deal worked out to a staggering $711,000 per room.
The “Merger and Acquisition” award went to Blackstone Real Estate Partners VII, which struck a deal last spring to acquire much of Paris-based Accor’s US lodging portfolio. The $1.9-billion sale included more than 1,100 Motel 6 and Studio 6 facilities across North America.
Robert Stiles, named “Financial Advisor of the Year,” has arranged billions of dollars in financing for various hotel and gaming properties over the past two decades. He and longtime colleague Douglas Hercher announced earlier this month that they have formed a new investment-banking services firm called RobertDouglas, with offices in New York, Los Angeles and San Francisco.
Levin, president and COO of Las Vegas Sands Corp., was honored with the Lifetime Achievement Award for what ALIS organizers call his “50 years of exemplary achievement in hospitality through research, education, community outreach, and industry development.” His company owns several casino-hotels in Nevada, Pennsylvania and overseas.