‘Deal of the Year’ Announced

18th Oct 2005

Colony Capital and Raffles Holdings have been awarded the prestigious ‘Deal of the Year’ award at the recent 16th annual Hotel Investment Conference Asia Pacific (HICAP) in Hong Kong.
The transaction between Colony Capital and Raffles Holdings to purchase the latter’s entire hotel business for an enterprise value of S$1.72 billion was closed last month and included the acquisition of all 41 hotels of Raffles Holdings (14 owned and 27 managed).

Organised by hotel, tourism and leisure consulting firm, Horwath Asia Pacific together with Sonnenblick-Goldman Company and Burba Hotel Network, HICAP is an annual event that sees the gathering of Asia’s top hotel industry leaders, investors and financiers.


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