Articles tagged “blackstone”

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.

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.

Things may be looking up for SeaWorld on paper, but whether or not it returns to its former strengths has more to do with changing consumer sentiment than competition or its own marketing efforts.

The fate of Starwood is the great whodunnit that is waiting to get written. It will either have to develop or buy more select service brands in a hurry or merge with someone who has a bunch.

Blackstone had the resources and stomach to stick with its instincts, relying on data, and bought up distressed properties to great advantage during the recession. It is not a company to bet against.

Despite the fact that the La Quinta IPO priced below the brand's intended range due to the overall tumble of the markets in recent days, investors are buying into La Quinta's growth story. With a CAGR of 18% from 2003 to 2013, there's little not to love.

The actual or prospective IPOs of Hilton Worldwide, Extended Stay America and La Quinta notwithstanding, Blackstone is adding pieces to the empire.

Blackstone had a superb 2013 with several high-profile hotel and other IPOs, but the stock markets are more dicey so far in 2014. Still, Blackstone has shown that it is a highly skilled hotel-chain owner, and this IPO will attract great interest.

We like it when these people make headlines.

Not only did La Quinta file its draft IPO registration statement confidentially with the SEC, the limited service chain issued a press release about it after market hours, a day before Christmas Eve. After the success of the Extended Stay America and Hilton IPOs, Blackstone wants another Christmas present, although Santa wouldn't be arriving this time with another IPO gift until well into 2014.