Blackstone is exploring options to divest Hotel Investment Partners, a Spain-based hospitality group valued at €6.5bn ($6.77bn).
The private equity giant is weighing either a sale of its 65% stake in HIP or an initial public offering, according to reports from Cinco Dias.
HIP owns 73 hotels, comprising 22,000 rooms, located in prime destinations across Spain, Portugal, Italy, and Greece. Since acquiring the company from Banco Sabadell in 2017, Blackstone has grown HIP into one of Southern Europe’s leading hotel investment platforms.
The potential divestment aligns with Blackstone’s strategy to monetise assets in sectors experiencing high investor demand. Sources familiar with the matter indicate that Blackstone is targeting a transaction within 2025.
This move underscores the strong appetite for hospitality assets in Europe, where tourism continues to rebound, creating lucrative opportunities for strategic investors.
Source: Reuters
Blackstone Group, one of the world’s largest private equity firms, is reportedly exploring options to sell or take public its €6.5 billion hotel portfolio, Hotel Investment Partners.
The portfolio consists of 14 hotels located in prime tourist destinations across Spain, including Barcelona, Marbella, and Mallorca. Blackstone acquired the portfolio in 2017 for €1.9 billion and has since invested in renovating and repositioning the properties.
According to sources familiar with the matter, Blackstone is considering a sale or an initial public offering (IPO) to capitalize on the strong demand for hotel assets in Spain. The firm has reportedly hired advisors to explore the potential options.
The decision to sell or go public comes as the hospitality industry in Spain is rebounding from the impact of the COVID-19 pandemic, with pent-up demand driving a surge in bookings and room rates.
Blackstone’s potential exit from Hotel Investment Partners could fetch a significant return on its initial investment and demonstrate the firm’s ability to create value through strategic acquisitions and asset management.
Stay tuned for more updates on this developing story.
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