The Caribbean’s most important business summit, CHRIS, recently held at the JW Marriott Marquis in Miami, Florida, USA, presented two prestigious awards, at a formal ceremony, concluding its important gathering of top hotel industry leaders.
One of the awards, the prestigious Single Asset Transaction of the Year, went to the Aruba Growth Fund / Goldman Sachs JV, for buying the former Radisson Aruba Caribbean Resort & Casino from affiliated entities of Carlson Hotels Real Estate Inc, in July 2015.
CHRIS, the Caribbean’s most important hotel and tourism investment conferences, congratulated the new owners of the property, the Aruba Growth Fund / Goldman Sachs JV, on the investment.
Other notable Caribbean Single Asset Transactions also nominated for the award: The Grand Cayman Marriott Beach Resort, sold to a UK & US based Private Equity Group, and The Ritz-Carlton St. Thomas, USVI, sold to Ashford Hospitality Prime, Inc.
The Single Asset Transaction of the Year Award committee was comprised of hotel industry leaders who selected, reviewed, and nominated deals. Then the finalist information was sent to the CHRIS delegates for voting.
In a private conversation, owners’ representative Rene Kan shared with Kent Schwarz, on the award committee, that he came to the conference on behalf of almost 20,000 Arubans, members of local pension funds, who invested in the Aruba Growth Fund, and when taking into consideration their spouses and children, more than half of the island’s population would be presented, a total of perhaps 80,000 Arubans.
Emotionally moved by the comment, Schwarz sent a hand-written note to Kan, post-award presentation stating: “I have had the pleasure of presenting the award for several years now and, frankly, this is the most meaningful of them all because of what you just told us, about the people of Aruba, putting their pension savings to work.”
In addition to the Single Asset Transaction of the Year Award, the second Development of the Year award went to the Marriott in Port-Au Prince, in Haiti.
CHRIS, an annual conference, provides a venue for the hotel investment community that is interested not only in the Caribbean, but also in Latin America, to conduct its business, in Miami, a centrally located gateway destination.
Congratulation to the Aruba Growth Fund / Goldman Sachs JV, and Hilton International for the important business recognition. Also seen in our picture Rouland Mouly, Vice President of Development for the Caribbean, Mexico and Latin America, Carlson Hotel Group.
The Caribbean Hotel & Resort Investment Summit (CHRIS) is the Caribbean’s most noteworthy hotel investment conference, conducting informative sessions and unique networking opportunities. With over a decade of experience in bringing the hotel/tourism investment community together in the Caribbean, the host of CHRIS has created a conference which is innovative, timely, and focused.
Media can access additional information about Hilton Aruba Caribbean Resort & Casino at www.caribbean-media.info/
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