HICAP 2026 Deal of the Year Award Winners Announced
The organizers of the 36th annual Hotel Investment Conference Asia Pacific (HICAP) are pleased to announce the winners of the HICAP Reggie Shiu Development of the Year, Single Asset Transaction of the Year, and the Merger & Acquisition Deal of the Year Awards. The HICAP Deal of the Year Awards highlight the most dynamic deals and developments and honor the ongoing achievements of our industry’s leaders. HICAP was held 20-22 October 2026 at the Fairmont Singapore & Swissotel The Stamford.
Capella Kyoto in Japan was named the Reggie Shiu Development of the Year. Opened on 22 March 2026 as Japan’s first Capella, Capella Kyoto is more than a luxury hotel—it sets a new benchmark for culture-driven hospitality investment for an undisclosed amount. Located in Kyoto’s Miyagawa-cho, one of Japan’s last living geisha districts, NTT Urban Development developed the 89-room ultra-luxury hotel alongside the reconstruction of Miyagawacho Kaburenjo, a cornerstone of geisha education and performance for over a century. Rather than treating cultural preservation as a cost, the project creates a self-sustaining model where hotel revenues support the Kaburenjo’s investment recovery and long-term future, demonstrating how world-class hospitality can preserve heritage while generating enduring economic value. Finalists in the category also included 1 Hotel Tokyo in Japan and Mama Shelter Singapore in Singapore.
Waldorf Astoria Jakarta in Indonesia was named Single Asset Transaction of the Year. Waldorf Astoria arrives in Indonesia for the first time: PT Putragaya Wahana has sold a majority stake in Waldorf Astoria Jakarta to Dana Hospitality RSC Limited, a subsidiary of the Abu Dhabi Fund for Development, completed 14 March 2026 for an undisclosed amount. The deal brought together an experienced Indonesian developer, Abu Dhabi institutional capital, and Hilton's global luxury platform to secure the hotel's long-term future. The ~180-room property crowns Autograph Tower — Indonesia's tallest building — within Thamrin Nine, Jakarta's premier mixed-use destination. More than a change in ownership, this is a new landmark for Jakarta's skyline, and a defining moment for its hospitality market. Finalists in the category also included Novotel Surfers Paradise & Paradise Centre in Australia and Park Avenue Changi Hotel in Singapore.
Ace Group International was named Merger & Acquisition of the Year. On 4 September 2025, Seibu Prince Hotels Worldwide Inc. completed the acquisition of Ace Group International LLC, the iconic lifestyle brand’s parent company, for a consideration of up to USD 90 Million. This strategic transaction includes eight operating hotels and Ace’s global management platform. The acquisition marks a pivotal milestone in Seibu Prince’s global expansion, integrating Ace Hotels’ unique creative DNA and boutique expertise with Seibu’s robust institutional infrastructure. By bridging Japanese hospitality excellence with a world-renowned lifestyle brand, the deal creates a high-growth, asset-light platform poised to capture younger, trend-conscious demographics in major global gateway cities. Finalists in the category also included Cross Hotels & Resorts and Fusion Hotel Group.
We would like to express our gratitude to those who served on the Deal of the Year Awards Committees. For the HICAP Reggie Shui Development of the Year, we thank Robert Hecker, (Chair), Bill Barnett, Regina M. DiBenedetto, Ian Lien, Eric J. Levy, and Xander Nijnens. For the HICAP Single Asset Transaction of the Year Award, we thank Hok Yean Chee (Chair), Matt Gebbie, Julien Naouri, Joel Rothstein, and Dora Stilianos. For the HICAP Merger & Acquisition of the Year Award, we thank Andrew MacGeoch (Chair), Steve Carroll, Nihat Ercan, Rohan Gopaldas, and Lada Shelkovnikova.
A special thank you to our 2026 HICAP Deal of the Year and Sustainable Hotel Awards sponsor Preferred Travel Group (Preferred Hotels & Resorts and Beyond Green).
For additional information on HICAP or the awards programs, visit the website at www.HICAPconference.com. The 36th edition of HICAP took place 20-22 October 2026 at the Fairmont Singapore & Swissotel The Stamford.