SINGAPORE, 27 October 2022: JLL Hotels & Hospitality Group won three awards at the Hotel Investment Conference Asia Pacific (HICAP) event held in Singapore last week.
The firm was recognised for the Single Asset Transaction of the Year for the Hilton Sydney, Merger & Acquisition (M&A) of the Year for W Maldives and Sheraton Maldives Full Moon Resort & Spa, and the Rising Star of the Year for Calvin Li, Executive Vice President, Head of Transaction Advisory Services, Asia Pacific at JLL Hotels and Hospitality Group.
JLL advised on the marquee Hilton Sydney transaction earlier in 2022. The hotel was acquired by Barings Private Equity (BPEA) for circa AUD530 million (USD338 million) and featured 587 rooms. JLL was exclusively appointed to manage a discrete sale process on behalf of the seller Glory Property for this landmark recently refurbished luxury property. Significantly, this is the largest ever single hotel asset transaction closed in Australia.
The acquisition of W Maldives and Sheraton Maldives Full Moon Resort & Spa by an affiliate of KSL Capital Partners from Universal Enterprises and Marriott International closed in June 2022 for an undisclosed amount. JLL advised on the deal, which represents one of the largest open-market transactions in the Maldives, reinforcing the country’s position as a major destination for institutional capital. The resorts are on their own private islands and offer a combination of overwater villas and beach villas.
“Investment in the Asia Pacific hospitality space has made substantial strides in 2022. The flurry of capital allocation into the sector reinforces our conviction that the growth trajectory will continue into 2023. We are delighted to receive recognition for our deep commitment to our clients from HICAP and gratefully share these leading industry awards with all our partners involved in these two landmark transactions,” said JLL Hotels & Hospitality Group senior vice president and head of investment sales Asia Pacific Nihat Ercan
Calvin Li’s recognition as HICAP’s Rising Star for 2022 caps his well-established reputation as one of the leading members of the new generation of hotel advisors in Asia Pacific. He joined JLL in January 2012 as an analyst in Singapore in the Hotels & Hospitality team. After serving in various roles, he was appointed Head of Transaction Advisory in 2018.
For over 30 years, HICAP has been an important annual gathering place for Asia Pacific’s hotel investment community, attracting influential owners, developers, lenders, executives, and professional advisors worldwide.
