Articles tagged “blackstone”

MGM Resorts Enters Deal With Private Equity Giant Blackstone Over Las Vegas Properties

MGM Resorts Enters Deal With Private Equity Giant Blackstone Over Las Vegas Properties

Nancy Trejos, Skift

MGM Resorts has agreed to sell two of its most notable Las Vegas properties, MGM Grand and Mandalay Bay, to a joint venture including real estate giant Blackstone. The company is going asset-light following its sale of the Bellagio last year.

1 month ago

Blackstone Looks at Buying Water-Park Operator Great Wolf

Blackstone Looks at Buying Water-Park Operator Great Wolf

Kiel Porter and Gillian Tan, Bloomberg

Great Wolf Resorts has had a few private equity owners in its recent history and another one clearly thinks there is more money to squeeze out of the business.

5 months ago

UK Investor Group Makes Move for Anbang’s Luxury Hotel Portfolio

UK Investor Group Makes Move for Anbang’s Luxury Hotel Portfolio

Manuel Baigorri, David Hellier, and Gillian Tan, Bloomberg

It looks like a bidding war is on for Anbang's luxury hotel portfolio. Investor Richard Faber has turned to sovereign wealth funds to outspend the other investment groups jockeying to win the deal.

7 months ago

Blackstone May Repurchase Anbang Hotel Properties

Blackstone May Repurchase Anbang Hotel Properties

Bloomberg

What are hotel portfolios to the Blackstone Group if not mere commodities to be bought, sold, and reacquired. The real estate giant has done this several times before, and may do it again with the Anbang portfolio unless another bidder prevails.

8 months ago

Anbang Steps Up Attempt to Sell Luxury Hotels Portfolio

Anbang Steps Up Attempt to Sell Luxury Hotels Portfolio

Gillian Tan, Bloomberg

Like HNA, Anbang is busy trying to get rid of the assets it bought during its well-publicized acquisition spree. Finding a new home for the group of properties formerly known as Strategic Hotels, shouldn't be too difficult.

1 year ago

Hilton, Hyatt, and Blackstone Eyeing Belmond Hotels

Hilton, Hyatt, and Blackstone Eyeing Belmond Hotels

Gillian Tan, Bloomberg

These potential suitors all have their own reasons for wanting to buy Belmond, but a bigger question looms as to why the company is deciding to put itself up for sale now after years of rebuffing the idea and years of underperformance.

1 year ago

LaSalle Spurns Blackstone By Picking Its Hotel Real Estate Rival for $5.2 Billion

LaSalle Spurns Blackstone By Picking Its Hotel Real Estate Rival for $5.2 Billion

Patrick Clark, Bloomberg

Looks like slow and steady won the race for Pebblebrook, even in going up against private equity behemoth Blackstone.

1 year ago

Investment Group LaSalle Hotel Properties Reconsiders Blackstone’s Takeover Offer

Investment Group LaSalle Hotel Properties Reconsiders Blackstone’s Takeover Offer

Gillian Tan, Bloomberg

As the saying goes, it's not over until it's really over. Or in this case, until LaSalle makes up its mind.

1 year ago

Blackstone’s Acquisition of Audiovisual Firm Shines a Spotlight on Event Production

Blackstone’s Acquisition of Audiovisual Firm Shines a Spotlight on Event Production

Sean O'Neill, Skift

Roll up, roll up, roll up! No, that's not a lyric from a song by either The Struts or Fitz and the Tantrums. That's instead the call of Blackstone, which has bought events tech provider PSAV with a likely plan of creating more roll-up mergers with similar vendors.

2 years ago

Blackstone May Take a Stake in the Loyalty Program of India’s Jet Airways

Blackstone May Take a Stake in the Loyalty Program of India’s Jet Airways

George Smith Alexander and P R Sanjai, Bloomberg

Jet Airways is in a race to raise cash as its pile of debt balloons. Blackstone is reportedly discussing a valuation of around $400 million to $500 million for the Indian carrier's loyalty arm, but the bigger financial picture remains troubled.

2 years ago

LaSalle Believes Rival Bidder Inappropriately Bought Its Shares

LaSalle Believes Rival Bidder Inappropriately Bought Its Shares

Gillian Tan, Bloomberg

The drama between LaSalle and Pebblebrook continues. Who said the Marriott-Starwood-Anbang affair would be the only dramatic hospitality merger we'd see?

2 years ago

Pebblebrook Hotel Trust Looks to Prevent Blackstone From Buying Its Rival

Pebblebrook Hotel Trust Looks to Prevent Blackstone From Buying Its Rival

Gillian Tan, Bloomberg

Consolidation is happening throughout the hospitality industry, and not just among the brands.

2 years ago