Savills Hotels

capability statement

savills hotels executive team Michael Simpson Michael Simpson is the Managing Director for Savills Hotels, Australia and New Zealand. He is responsible for the management and development of Savills Hotels business in Australia and New Zealand, and its integration with the Asian and global Savills hotels platforms. Michael has a particular focus on investment sales, capital raising, joint ventures and advising on and structuring hotel and mixed-use developments. Michael has spent more than 10 years as a lawyer responsible for advising on, structuring, negotiating and executing asset level and entity level single asset and portfolio hotel and resort sales. Michael also spent four years leading a hotel, resort and leisure development team in the Middle East, and jointly established the company’s hotel and leisure asset management team.

Vasso Zographou Vasso is a Director in the Savills Hotels, Australia & New Zealand team and has over 25 years of hotels industry knowledge and experience. His responsibilities encompass Capital Market activities and overseeing the broad range of advisory services which the team provides to its clients. As a Chartered Accountant, Vasso has worked across virtually all aspects of the hotel industry acting for owners, banks and hotel operators including, sales & acquisitions of hotel assets & portfolios and/or at the entity level, corporate finance, development, asset management, operator selection and management agreement negotiation, vendor & purchaser financial due diligence and capital transaction closure services.

Adrian Archer Adrian is a Director in the Savills Hotels team and specialises in the valuation of hotel and leisure assets. He has valued over 1,000 hotels across 20 countries acting on behalf of institutions, private investors and operators, to include Australia, Asia, Europe, Africa and North America. Since qualifying for the RICS in 2000, Adrian has gained a wide range of valuation experience from internationally branded hotels in excess of 1,000 rooms each to health and fitness chains across various countries. In addition, he has also undertaken the valuation of several portfolios for IPO purposes across the Asia Pacific Region.

2

savills hotels experience & services Savills Global Platform & Unrivalled Capabilities Savills Hotels is a truly global platform, interacting regularly and collaboratively with our teams around the globe. Simultaneously, we connect with local and international clients including foreign institutions and high net worth individuals, and financial, investment and management entities to bring owners to the market, introduce buyers to the right opportunity and to provide cutting edge advisory services.

The Savills Hotels team has proven expertise gained through practical experience across the tourism and hospitality sector, which it draws upon to provide independent advice across a range of capital transaction and advisory services. Their collective experience and backgrounds in hotel agency, corporate finance and advisory, legal, chartered accounting and valuation disciplines, enables team members to cover all segments of the industry and to deliver an optimum outcome for our clients on any appointment, no matter the size, complexity or scope.

Hotels are an international asset class and hotel capital is global. Our integrated international hotels team located in Sydney, Melbourne, Brisbane, Perth, Adelaide, Singapore, Hong Kong, Shenzhen, Guangzhou, Shanghai, Beijing, Tokyo, Seoul, London, New York and offices elsewhere, have the ability to leverage our global presence and immediately draw attention to an opportunity, enabling a client’s hotel disposal to connect with not only national, but also international investors.

The expertise within the team is capable of putting forward unique asset realisation strategies and disposition services, as well as specific management and consultancy services.

3

Our Services Savills has a professional team with an unrivalled depth of experience, capable of delivering the following services:  Investment Sales

 Lease Negotiation Strategy & Advisory

 Valuations

 Buy-Side Representation

 Asset Management

 Pub Sales

 Market Demand Study

 Student Accommodation

 Feasibility Study

 Hotel Development

 Operator Selection & Engagement

 Project Management

 Scoping Study

Solutions for Transactions Savills Hotels is equally competent in open or off-market sale campaigns. Our team can advise and guide the client through the entire process of an open transaction including preparation for sale, due diligence and successful disposition. Alternatively, in today’s competitive environment by the time a hotel is taken to market it is too late to appeal to many investors, Savills market knowledge and contacts enable us to present clients with offmarket opportunities. Irrespective of transaction type, our broad skill set and experience enable identification and mitigation of transaction execution risks, providing greater certainty for sellers and buyers.

Across the main sectors in the Australia & New Zealand business, in the last year Savills achieved approximately: Valuations

AU$109billion of property valued including portfolio valuations

Project Management in excess of

AU$3.5billion of projects managed

Sales & Investment

Asset Management

AU$6.2billion

3.3million sq m

significant investment deals

of property under management

Leasing

1 million sq m of property leased with gross annual rents exceeding AU$270 million

Figures correct as of December 2014

4

valulation & advisory services Savills dedicated team of hotel valuers complement established teams in agency and valuation across all Real Estate asset classes. This provides Savills with strength and depth to consider highest and best use options and optimise opportunities. The team is highly regarded by the market for its ability to identify and solve complex property matters and provide timely and accurate advice.

 Property Valuations: - Institutional for statutory reporting purposes - Major listed property trusts and wholesale investment trusts - Portfolios for multinational corporate clients - First mortgage lending - Insurance and balance sheet purposes

The range and scope of our experience makes us well-equipped to identify and help resolve complex property-related issues through the comprehensive services we provide:

- Stamp duty, capital gains tax and GST purposes  Due diligence advice on asset acquisition/disposal  Court appearances as expert witnesses  Rating objections  Rental valuation/determinations  General property consultancy

5

track record capital transactions

Sofitel, Sydney Darling Harbour Client No. Rooms

Victoria Harbour, Melbourne Lend Lease

Client

600 Approx.

No. Rooms

Price

Above AU$340m

Role

Savills operator

Michael Simpson

Savills operator

Date

2014

Date

Park Hyatt, Sydney Client No. Rooms Price Savills operator Date

Lend Lease TBA Hotel Advisory & Sale Michael Simpson 2015

Four Seasons, Sydney MFS

Client

158 Approx.

No. Rooms

AU$202m

Price

Vasso Zographou

Savills operator

2007

Date

6

Walton Street Capital 531 AU$225m Michael Simpson 2006

ANA Harbour Grand Hotel, Sydney (now Shangri-La)

Marriott Surfers Paradise Resort

ANA Japan

Client

Client

565

No. Rooms

Novotel Oasis, Cairns Resort

Confidential

Client

408

No. Rooms

No. Rooms

Price

Above AU$340m

Price

Savills operator

Michael Simpson

Savills operator

2006

Date

Date

The Pier Hotel Glenelg, SA Client No. Rooms Price Savills operator Date

2001

Date

Courtyard by Marriot Surfers Paradise Resort Client

Vasso Zographou

Savills operator

2002

Date

AU$45m

Price

Vasso Zographou

Savills operator

565

No. Rooms

AU$206m

Price

Long Term Credit Bank Japan

Broadreach Capital Partners 314 AU$48m Michael Simpson 2007

Treasury Hotel, Adelaide Confidential

Client

175

No. Rooms

AU$1m pa for 50 years (leasehold)

Price

Rob Williamson

Savills operator

2013

Date

7

Confidential 79 AU$20m Rob Williamson 2000

Regent Hotel Sydney (now Four Seasons Sydney) Client

Sheraton Perth Hotel & Commercial Centre (now Pan Pacific)

Long Term Credit Bank Japan

Client

531

No. Rooms

No. Rooms

AU$150m

Price

Price

Vasso Zographou

Savills operator

Savills operator

1998

Date

Date

Sheraton Sydney Airport & Airport Central Tower (now Sydney Stamford Airport) Client

Client

360

No. Rooms

No. Rooms

AU$99m

Price

Vasso Zographou

Savills operator

Savills operator

2001

Date

Date

Ramada Hotel, Bondi Beach Client No. Rooms Price Savills operator Date

350 AU$45m Vasso Zographou 1999

Stamford Grand Hotel, Adelaide

Long Term Credit Bank Japan

Price

Shimuzu Japan

Confidential 220 AU$45m Rob Williamson 1996

Ramada North Ryde

Security Pacific & Rural & Investment Bank

Client

330

No. Rooms

AU$33m

Price

Vasso Zographou

Savills operator

1992

Date 8

State Bank NSW 230 AU$36m Vasso Zographou 1993

Holiday Inn, Cairns Client No. Rooms Price Savills operator Date

Eden on the Park, Melbourne State Bank SA 237 Vasso Zographou

Hallmark Inn, Tamworth

No. Rooms

Development site

No. Rooms

AU$2.8m

Price Savills operator Date

Hallmark Inn Pty Ltd 60 AU$2.7m

Price

Nic Simarro

Nic Simarro

Savills operator

2015

2015

Date

Charbonnier, Singleton

No. Rooms

1994

Date

Client

Client

Vasso Zographou

Savills operator

1994

Sea Care Pty Ltd

Date

AU$15m

Price

Client

Savills operator

132

No. Rooms

$28m

23-29 Market Street, Adelaide

Price

State Bank NSW

Client

Horizons Golf Resort, Port Stephens Hallmark Inn Pty Ltd

Client

70

No. Rooms

AU$3.99m

Price

Nic Simarro

Savills operator

2015

Date

9

Le Meilleur P/L N/A AU$3.2m Nic Simarro & Michael Simpson 2015

Regency Inn, Armidale Client No. Rooms Price Savills operator Date

Seagulls Resort, Townsville Hallmark Inn Pty Ltd 40

No. Rooms Price Savills operator Date

No. Rooms Price Savills operator Date

AU$6.2m

Price

Nic Simarro

Savills operator

2015

Nic Simarro & Michael Simpson

Date

2015

La Mer Luxury Apartments Private Investor

Client

N/A

No. Rooms

Confidential

Price

Michael Simpson

Savills operator

2014

Date

Club Tropical, Port Douglas Client

69

No. Rooms

AU$1.6m

Star of the Sea, Gold Coast Client

Tarnow Pty Ltd

Client

Private 21 Serviced apartments AU$3.7m Nic Simarro 2014

Orient Hotel, WA Westpac Bank

Client

82

No. Rooms

AU$12m

Price

Vasso Zographou

Savills operator

1996

Date

10

Confidential 20 AU$4.3m Chas Moore 2014

Aqua Resort, WA Client No. Rooms

Movenpick Saigon HCMC, Vietnam Confidential

Client

33

No. Rooms

Price

Confidential

Price

Savills operator

Chas Moore

Savills operator

Date

2014

Date

Sheraton Nah Trang, Vietnam Client No. Rooms Price Savills operator Date

No. Rooms Price Savills operator Date

278 US$30m Julien Naouri 2014

Comfort Portfolio, Japan Vinacapital (VN)

Client

284

No. Rooms

US$42m

Price

Julien Naouri

Savills operator

2013

Date

Oriental Kobe Hotel Kobe, Japan Client

Vinacapital (VN)

Goldman Sachs 432 Confidential Raymond Clement 2011

The B Roppongi Tokyo, Japan Mitsui Fudosan (JP)

Client

116

No. Rooms

US$220m

Price

Raymond Clement

Savills operator

2013

Date

11

Ishin Hotels (JP) 76 US$35m Julien Naouri 2014

E Hotel Shinjuku Tokyo, Japan Client No. Rooms Price Savills operator Date

Holiday Inn Express Causeway Bay, Hong Kong Westmont (CA) 253

No. Rooms Price Savills operator Date

Role Rooms Price

HK$1.58bn

Price

Julien Naouri

Raymond Lee

Savills operator

2013

2007

Date

Butterfly on Morrison, Hong Kong SAR Confidential

Client

56 Units

Butterfly Group (HK) 88

No. Rooms

HK$590m

US$88m

Price

Raymond Lee

Savills operator

2012

Raymond Lee 2013

Date

W Union Square, New York Client

282

No. Rooms

US$68m

Shama Central, Hong Kong Client

Confidential

Client

9900 Wilshire Boulevard Beverly Hills, USA Deka Bank

Client

Capital Markets & Advisory

No. Rooms

509

Price

US$232m

Savills operator Date

12

Joint Treasure (HK) Mix Use Confidential Robert Stamm 2014

Heron Plaza London, UK Client No. Rooms Price Savills operator Date

Cordillera Lodge & Spa, Edwards, CO Heron Int. (UK) Mix Use

No. Rooms Price

No. Rooms Role

Confidential

Price

Robert Stapleton 2014

InterContinental Mayfair, London Quinlon Partnership

Client

118

No. Rooms

€221m

Price

St. Regis Hotel, Washington, DC Client

56

No. Rooms

US$157m

Four Seasons, Milan Client

VEF Advisors

Client

Broadreach Capital Partners 314 AU$48m

Ibis & Hilton, Prague Friends First

Client

182

No. Rooms

Asset Management

Price

13

Highridge BV 1,014 €147m

track record advisory

333 Kent Street, Sydney Client No. Rooms Role Savills operator Date

Victoria Harbour, Melbourne Mayville Bay Pty Ltd

Client

N/A

No. Rooms

Market Demand & Feasibility Advisory

Role

Michael Simpson

Savills operator

Date: 2015

Date

W, Brisbane Client No. Rooms Role Savills operator Date

Lend Lease TBA Operator Selection Advice & Branded Residences Michael Simpson 2015

Westin, Perth Shayher Leisure Holdings Pty Ltd

Client

305

No. Rooms

Operator Selection & Hotel Advisory

Role

Michael Simpson

Savills operator

2014

Date

14

BGC Group 300 Operator Selection & Hotel Advisory Michael Simpson 2014

Aloft Perth, Rivervale

Resort Development Project South of Ngwe Saung, Ayeyarwady, Myanmar BGC Group

Client

224

No. Rooms Role

Role

Michael Simpson

Date

Ayres Rock Resort ILC

Client

Purchaser Due Diligence

No. Rooms

Vasso Zographou

Savills operator

Role

2009-2011

Date

Savills operator Date

Upscale Hotel Yangon, Myanmar Client No. Rooms Role Savills operator Date

Nathalia Wilson 2014

Luxury Hotel Ulaanbaatar, Mongolia

Client Role

Feasibility & Operator Selection

Savills operator

2014

Date

3 resorts

No. Rooms

Operator Selection & Hotel Advisory

Savills operator

Confidential (MM)

Client

Confidential (MN) 250 Feasibility Study Zoe Zhou 2013

Quality Hotel Marlow, Singapore Confidential (MM)

Client

200

No. Rooms

Feasibility Study, Projections and Hotel Operator Selection

Role

Nathalia Wilson

Savills operator

2014

Date 15

Confidential (ID) 240 Asset Management Nathalia Wilson 2014

Luxury Hotel, HCMC, Vietnam

Essex House, New York Confidential (VN)

Client

300

No. Rooms Role

Client

2014

Portfolio of 10 Hotel Assets, Singapore

Hay Adams Hotel, Washington, DC FEO (SG)

Client

2012

Tourism Economic Development, Malaysia

Date

Management

Role

Julien Naouri

Date

Savills operator

156

No. Rooms

Independent Hotel Market Research for IPO purpose

Savills operator

Role

Magazine Family

Client

2,000+

No. Rooms

No. Rooms

Management & Advisory

Role

Nathalia Wilson

Date

Client

7722

No. Rooms

Feasibility Study, Projections and Hotel Operator Selection

Savills operator

Role

Marriott/JAL/Joint Treasure

InterContinental NY Barclay, NY

Malaysia Gvt (MY)

Client

5 hotels

No. Rooms

Master Planning, Feasibility, Operator Selection

Role

Nathalia Wilson 2014 16

Confidential (International Investor) 686 Buy-side Advisory

track record valuation

Four Seasons Hotel, Sydney, NSW

Lotus Equity Hotel Development Portfolio

Valuation of 531 room five-star luxury hotel for acquisition purposes.

Valuation of a portfolio of proposed branded hotels on East and West Coast of Australia.

Date

2015

Date

2013-2015

Quest Serviced Apartments Portfolio, Australia

Ascendas Hotel Portfolio, Australia

Valuation of a portfolio of branded serviced apartment complexes for acquisition purposes.

Valuation of Portfolio of 7 managed hotels with 2,024 rooms in Sydney, Melbourne, Brisbane & Cairns for Asset Reporting & first mortgage security purposes.

Date

2015

Date

17

2014 & 2015

Marriott Hotel Portfolio, Australia

Sofitel Wentworth, Sydney

Portfolio valuation of 5 star hotels with over 1,000 rooms across Sydney, Melbourne and Brisbane for asset reporting purposes.

Valuation of 436 room 5 star hotel for transfer into a hospitality REIT.

Date

Date

2014 & 2015

2014 & 2015

Shangri-La & Holiday Inn Old Sydney

NEXT Hotel and Forever 21, Brisbane

Valuation of two Sydney Harbour view hotels on behalf of the landlord the Sydney Harbour Foreshore Authority.

Valuation of 304 room 4.5 star hotel and Forever 21 retail unit for acquisition purposes.

Date

2014

Date

2014

Sheraton, Melbourne

The Ascott Limited, Citadines on Bourke and Somerset on Elizabeth, Melbourne

Valuation of 174 room 4.5 star luxury hotel.

Valuation of serviced apartments for REIT transfer purposes.

Date

2014

Date

18

2015

Crowne Plaza, Canberra

The Westin, Sydney

Valuation of 296 room 5 star luxury hotel for financial reporting and first mortgage security purposes.

Valuation of 416 room 5 star luxury hotel for acquisition purposes.

Date

2015

2015

Date

Tambua Sands Beach Resort, Fiji

Travelodge Portfolio

Valuation of 25 bures for acquisition purposes.

Valuation of a national portfolio of 4 star hotels on behalf of Mirvac for asset reporting purposes.

Date

2015

Date

Citadines Portfolio, Singapore, Vietnam & across Europe

Marriott Hotel Portfolio, across the UK 42 Upscale Hotels Valuation for loan security & support an acquisition.

28 Aparthotels Valuation for IPO.

Date

2014 & 2015

2011

Date

19

2012

The Doyle Collection

V&A Waterfront, Cape Town

Annual accounts valuation for 11 Luxury Hotels across UK, Ireland & USA.

1 million sq m Development, 8 Hotels including the One & Only.

Date

2011

Date

2009

Malmaison & Hotel du Vin Portfolio UK

Adnams Hilton Portfolio UK

Valuation of 29 luxury boutique hotels (2,086 rooms) for acquisition purposes.

Valuation of 16 Hilton hotels (3,181 rooms) for loan security purposes.

Date

2015

Date

2014

CitizenM Portfolio, Global

Elba Portfolio, Europe

Valuation of 11 hotels (2,774 rooms) across Europe and New York City for year-end accounting purposes.

Valuation of 9 hotels (2,584 rooms) branded Hilton and DoubleTree by Hilton on behalf of Barclays Bank for loan security purposes.

Date

2014

Date

20

2014

key contacts savills hotels

Michael Simpson Managing Director +61 (0) 431 649 724 [email protected]

Vasso Zographou Director +61 (0) 449 979 039 [email protected]

Nic Simarro Senior Sales Executive +61 (0) 481 036 095 [email protected]

Iris Liu Assistant Valuer +61 (0) 410 060 669 [email protected]

Adrian Archer Director +61 (0) 481 037 429 [email protected]

Savills is a leading global property service provider listed on the London Stock Exchange, with over 600 owned and associate offices worldwide. Trusted since 1855, we have extensive experience across the Asia Pacific, with more than 50 offices, and in Australia we have over 800 staff focused on meeting all your property needs. 21

about savills With a rich heritage and a reputation for excellence that dates back to 1855, Savills is a leading global real estate provider listed on the London Stock Exchange. Savills advises corporate, institutional and private clients, seeking to acquire, lease, develop or realise the value of prime residential and commercial property across the world’s key markets.

22

Unite

140

55

ean bb

US, M

Offices

ico & Cari ex

Offices

84

ngdom & Ki

Offices

land Ire

d

Europe

Europe

Americas

As

a st & A eE dl

c fri

274

a

Mid

Africa

ia Pacific

126

Asia Pacific

Offices

Offices

“Savills Hotels delivers effective, creative and innovative solutions to our clients’ capital transaction needs and advisory services using the extensive expertise and resources of the Savills network.”

Savills is a company that leads rather than follows with more than 600 owned and associate offices and associates throughout the UK, Europe, Americas, Asia Pacific, Africa and the Middle East. With over 30,000 staff operating out of more than 60 countries, we seek out people who possess that rare mix of entrepreneurial flair and rock solid integrity, and are focused on delivering clients with advice and expertise of the highest calibre.

 Sales & Investment

A powerful combination of global connections and deep local knowledge provides Savills with an almost unparalleled ability to connect people and property. Savills extensive Asia Pacific network spans offices throughout Australia, New Zealand, China, Hong Kong, India, Indonesia, Japan, Korea, Macao, Malaysia, Myanmar, Philippines, Singapore, Taiwan, Thailand and Vietnam.

 Property Accounting

In Australia, we offer the full spectrum of services from providing strategic advice to managing assets and projects and transacting deals.

23

 Leasing  Valuation & Advisory  Asset Management  Project Management C  orporate Real Estate Services  Facilities Management  Residential Services  Research & Consultancy

savills asia pacific network

Adelaide Brisbane Canberra Gold Coast Melbourne Notting Hill Parramatta Perth Sunshine Coast Sydney (2)

China        

Beijing Chengdu Chongqing Dalian Guangzhou Hangzhou Nanjing Qingdao

Shanghai Shenyang Shenzhen Tianjin Xiamen Xi’an Zhuhai

Hong Kong     

Exchange Square (3) Discovery Bay Taikoo Shing Kowloon Tong Kowloon

Japan

Singapore

 Tokyo

 Singapore

Macao

South Korea

 Macao

 Seoul

Malaysia

Taiwan

 Johor Bahru  Kuala Lumpur  Penang

 Taichung  Taipei (3) Thailand

Myanmar

 Bangkok

 Yangon

Vietnam

New Zealand

India

 Hanoi  Ho Chi Minh City

 Bangalore

 Auckland (2)  Christchurch

Indonesia

Philippines

 Jakarta

 Makati City  Bonifacio Global City

2

Asia

44

2 7

Offices

2

4

lia

& Ne w Z land

14

ea

ra

         

      

Aust

Australia

Offices

3 2

24

2

savills global network UK, Ireland & Channel Islands     

     

England Ireland Jersey Scotland Wales

Philippines Singapore South Korea Taiwan Thailand Vietnam

Continental Europe Asia Pacific Australia China Hong Kong India Indonesia Japan Macau Malaysia Myanmar New Zealand

Austria Belgium Croatia Denmark Finland France Germany Gibraltar Greece Italy Luxembourg Monaco

Middle East & Africa Bahrain Kenya Mauritius Mozambique Namibia Oman Qatar Seychelles

       

   

South Africa United Arab Emirates Zambia Zimbabwe

Americas & Caribbean          

Antigua & Barbuda Bahamas Barbados Cayman Islands Grenada Mexico Panama St Kitts & Nevis St Lucia US

Unite

140 Offices

Offices

Offices

Europe

Americas

As

Africa

a st & A eE dl

c fri

274 Offices

25

a

Mid

55

ean bb

ico & Cari ex

84

ngdom & Ki

land Ire

d

Europe

US, M

         

           

Montenegro Netherlands Norway Poland Portugal Russia Spain Serbia Sweden Switzerland

         

ia Pacific

126 Offices

Asia Pacific

26

27

savills.com.au/hotels savills.co.nz/hotels

28