Gaw Capital

Partners’ first separate account transaction in Asia

July 10, 2015 –Real estate private equity firm, Gaw Capital

Partners, announced that it has

successfully led the acquisition of the centrally located InterContinental Hong

Kong Hotel from the hotel’s current owner and management company, InterContinental

Hotels Group on behalf of the purchaser, Supreme Key Limited. Supreme Key

Limited is owned by Pioneer Global Group, and separate account investors

advised by Gaw Capital Partners. The transaction is expected to close in the

second half of 2015. It is Gaw Capital’s first separate account investment in

Asia.

 

The InterContinental Hong

Kong is a flagship Hotel located at a prime location in Hong Kong’s Kowloon

waterfront. As part of this

deal, a significant additional capital improvement

budget has been committed for refurbishing the property. Gaw Capital Partners

will leverage its rich experience in managing hotels, including the iconic

Hollywood Roosevelt Hotel, to further upgrade this internationally-acclaimed

leading hotel.

 

As part of this long term strategic

investment, Gaw Capital Partners will retain InterContinental Hotels Group to

continue managing the property, whilst using its existing hospitality platform,

GCP Hospitality, to enhance the asset management. Gaw Capital Partners and its affiliates

have a long history in turning around and repositioning hotels successfully. The

iconic Hollywood Roosevelt Hotel in Los Angeles has once again become a hotspot

for Hollywood’s stars and celebrities after a USD $24 million renovation in

2005 by Gaw Capital Partners’ Chairman Goodwin Gaw and his partners. GCP Hospitality’s

portfolio comprises 18 properties in Asia and US and includes flagship Hotel G properties

in Bangkok, Pattaya, Hong Kong, San Francisco, Suzhou, Shenzhen and Beijing, as well as the legendary Strand Hotel and Strand Cruise in Yangon and the

management of soon to be opened Roosevelt Macau.

 

Goodwin Gaw, Chairman

and Managing Principal of Gaw Capital Partners, said “We are delighted to have led

the successful acquisition of this iconic Hong Kong property. We intend to

fully leverage our extensive experience in hotel management to ensure that the InterContinental

Hong Kong remains a world class location.”

 

Since 2010, Gaw Capital

Partners has acquired 10 direct investments in London and the US on behalf of

its separate account Asian clients, and this is the 11th separate account

investment globally. Other notable separate account investments include 333

Market Street in San Francisco (Wells Fargo headquarters), Cupertino Gateway

(one of Apple’s main campuses), Lloyd’s Building in London (Lloyd’s

headquarter), Waterside Paddington in London (Marks & Spencer’s

headquarters)…etc.

 

Christina Gaw, Managing Principal and Head

of Capital Markets of Gaw Capital Partners, commented “We are grateful for the

investors’ support in partnering with us to invest in this landmark deal. Gaw

Capital Partners is dedicated to helping our investors look for investment

opportunities with favorable returns in the global real estate markets. As we

see more properties in Asia with attractive propositions, we hope to do more in

Asian separate account investments.”

 

“Pioneer

Global Group has long been an active investor in hotels, especially in SE Asia,

including the Pullman Hotel G Bangkok, Pullman Hotel G Pattaya, and the Strand

Hotel in Yangon, Myanmar. The acquisition of the InterContinental Hong Kong

will be the first hotel investment for Pioneer Global Group in Hong Kong. I am

confident that this iconic property with its commanding presence on the harbour

front and its star studded restaurants will continue to be one of the leading

hotels in Hong Kong and the world.” said

Kenneth Gaw, Managing Director of Pioneer Global Group and also President and

Managing Principal of Gaw Capital Partners.

 

InterContinental

Hong Kong is internationally-acclaimed as one of the world’s leading hotels,

with a coveted five-star rating from the Forbes Travel Guide. It is famous for

its unrivalled panoramic views of Victoria Harbour and Hong Kong’s skyline. The

503- room hotel was first open in 1980 as Regent Hong Kong and has been wholly

owned by IHG and operated under the InterContinental brand since 2001. The

hotel is also a destination for exceptional dining with three Michelin star

restaurants (SPOON by Alain Ducasse, Yan Toh Heen and THE STEAK HOUSE winebar +

grill).These three of InterContinental

Hong Kong’s restaurants have been awarded a total of 4 Michelin stars in the

2015 Michelin Guide to Hong Kong and Macau — once again giving the hotel the

distinction of having three Michelin star restaurants under one roof for

the third consecutive year.

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