Articles tagged “blackstone”

Blackstone and Starwood Capital's approved takeover of Extended Stay America is a major win for investors who have been salivating over any kinda of mega-hotel deal coming out of the pandemic. But the turbulent road to the finish line shows shareholders are still not going to accept lowball offers.

Blackstone and Starwood Capital's extra $180 million sweetens the pot for the planned Extended Stay America takeover, but this is no done deal. There is still a very loud opposing group of shareholders that could sway the vote this week.

Blackstone and Starwood Capital blinked, bowing to critics on what they deemed a lowball offer for Extended Stay America.

Lifestyle hotels come in many forms, with some focused more on the hip and trendy while, others like Hilton see it as an opportunity to scale up more experiential and food-focused properties around the world. Long story short: we still don't have a textbook definition for what a lifestyle hotel actually is.

Leaving Las Vegas gives Las Vegas Sands more than $6 billion in capital to beef up non-gaming assets in markets like Singapore and Macau and potentially dip its toes in the uncharted gambling waters of Texas.

Extended Stay America's significant hotel ownership, an industry anomaly these days, drove it to sell, or at least that was the C-suite argument. Buildings are getting old and need a lot of money to renovate. Major shareholders aren't buying that argument.

The pandemic shows just how futile it is to build a hotel just for the sake of an event like the Olympics. Real estate is a long-term play.

Blackstone wants to expand its investments in flashy segments like e-commerce and sustainable energy, but the tanked travel sector may offer the most attractive prices and upswing.

Blackstone may not have a lot of exposure to the hotel industry today, but that doesn't mean the investment firm isn't on the hunt for distressed hospitality investment opportunities during the pandemic.

Coronavirus may lead to distressed pricing and investment opportunities for firms like Blackstone, but it could take up to a year before we see the first wave of acquisition plays.