iProsperity Group (iPG) – a leading advisor for high net worth investors – has won the ‘Hotel Deal Of The Year’ award for its acquisition of the Novotel Glen Waverley at the 2017 HotelsWorld Awards.
iPG, ranked in the top 10 hotel owners in Australia, trumped the ‘$50 million to $100 million’ deal category, following the $73.6 million acquisition of the Novotel Glen Waverley, a 200-room hotel in the Melbourne suburb of Glen Waverley, in December 2016.
iPG’s Sales Director, Chong Ren, said: “iProsperity is delighted to receive this award, which
recognises the Novotel Glen Waverley acquisition as the landmark deal of 2016. This is our second win at the HotelsWorld Awards, and it’s a testament to our talented team, our growing hotel portfolio and the value and potential we continue to bring to our investors.”
The awards were judged by a panel of industry experts, and the winners announced at the Hotels Investment World conference at the Sofitel Sydney Wentworth, comprised of industry CEOs, senior executives, hotel owners, investors and operators, lenders and professional advisers.
iProsperity is delighted to receive this award, which recognises the Novotel Glen Waverley acquisition as the landmark deal of 2016.
The Novotel Glen Waverley was acquired by iPG from private syndicate GW Hotel Investments led by Phil Green and Greg Shand following 20 years of ownership. The hotel, a contemporary 4-star hotel currently managed by Accor group, is located in one of Australia’s most attractive residential markets and is adjacent to the 8,352sqm Century City Walk entertainment and lifestyle shopping mall.
iPG acquired Century City Walk for $45 million in May, and is currently exploring the potential for joint commercial–residential development.