Blackstone Group LP has agreed to sell Strategic Hotels & Resorts to Anbang Insurance Group of China. According to Bloomburg Business, the deal will be valued at $6.5 billion and comes just three months after Blackstone purchased the US luxury-resort company.
Accor has announced the completion of the sale of its Motel 6/Studio 6 hotels in North America to an affiliate of Blackstone Real Estate Partners. The deal is worth approximately $1.9 billion and will allow the French hotel giant to reduce its adjusted net debt by €780m.
The Mint hotel chain has been acquired by private equity group, Blackstone, according to reports.
Private equity firm CVC Capital Partners has acquired a 28 percent stake in theme park operator Merlin Entertainments for £2.25bn. Blackstone meanwhile reduces its stake and Dubai International Capital disposes of its remaining shares.
Severe market volatility in the Eurozone has forced Blackstone to postpone plans to float Merlin Entertainments, the operator of Madame Tussauds and Legoland, just 24 hours after shelving plans for a £1.2bn listing of Travelport.
Travelport has shelved plans for a £1.2 billion float on the London Stock Exchange due to the continuing weakness of the IPO market. The US airline and hotel reservations company cited “volatility” in world markets for the abrupt withdrawal. The move will also serve as a dampener to owner Blackstone, which plans to list theme park operator Merlin next week.
Travelport has revealed more details of its planned listing on the London Stock Exchange valuing the business at between £1.9bn and £2.2bn.
Merlin Entertainment, the operator of Madame Tussauds and the London Eye, has bought a 145-acre site in Florida for a Legoland resort that will go head-to-head with Disney. The Blackstone-owned operator is also gearing up for a £2bn London stock market floatation before Easter.
Having finalized the acquisition ofWyndham International, Inc., affiliates of Blackstone Real Estate Advisorstoday announced the formation of LXR Luxury Resorts, an extraordinary newcollection of luxury properties that will include some of the most treasuredluxury hotels, resorts, spas, golf clubs and marinas in the U.S., Puerto Ricoand the Caribbean. LXR Luxury Resorts will be comprised of 14 of Wyndham’spremier owned and operated properties as well as seven hotels and resorts fromBlackstone’s Boca Hospitality Collection and Prime Hospitality holdings.