Articles tagged “Blackstone Group”

News Blog

Blackstone Sells Stake in Travel Tech Company IBS Software For $450 Million

Blackstone sold its stake in Indian software company IBS Software for $450 million to British private equity firm Apax Partners.  Founded in 1997, IBS Software sells software-as-a-service solutions to the global travel and logistics industry. The company’s offerings include modular, cloud-based solutions for the travel industry — including cargo and logistics, flight operations, passenger services,…

Srividya Kalyanaraman | 6 months ago

Hotels

Extended Stay America Bets Comeback on Adding Franchise Brands

Suddenly every hotel group seems to be inventing an extended stay brand. But the pioneer U.S. company in the segment, Extended Stay America, says its new strategy will help it fend off rivals.

Sean O'Neill | 7 months ago

Extended Stay America Bets Comeback on Adding Franchise Brands

Hotels

Blackstone, Starwood, Other Big Hotel Investors Prep for Dealmaking Rush Later This Year

When every investor in a sector says they're "cautiously optimistic," watch out.

Sean O'Neill | 10 months ago

Blackstone, Starwood, Other Big Hotel Investors Prep for Dealmaking Rush Later This Year

Hotels

Blackstone Takes Stake in Hotel Owner Sunstone as Private Equity Eyes More Lodging Deals

In a turbulent financial market, players such as Blackstone are worth tracking because they usually have more wherewithal to invest in hotels than others do.

Sean O'Neill | 1 year ago

Blackstone Takes Stake in Hotel Owner Sunstone as Private Equity Eyes More Lodging Deals

News Blog

Blackstone’s Sale of The Cosmopolitan Hotel Notched Profit Record

Alternative asset manager Blackstone released its earnings on Thursday and revealed that its $5.7 billion sale of the Cosmopolitan hotel and casino in Las Vegas had produced about $4.1 billion in profit, the Wall Street Journal estimated The financial firm said in filings that the Cosmopolitan sale was its most profitable single real estate asset…

Sean O'Neill | 1 year ago

Mergers and Acquisitions

10 Largest 2021 Travel Acquisitions Ripple Across Industry

Big names drove many of the top 10 travel mergers of the year. But among the largest deals, aircraft lessors, rail manufacturers and an online travel agency used the pandemic to scoop up infrastructure and technology to shore up their positions.

Dennis Schaal | 2 years ago

10 Largest 2021 Travel Acquisitions Ripple Across Industry

Hotels

Singapore Real Estate Giant Eyes Hard-Hit Japanese Hotels With $500 Million Fund

With tourism tipped for a major rebound, hotel operators may hold out a little longer before selling up. But SC Capital will be one to watch if it starts buying hotel management platforms and other travel-related companies.

Junko Fujita, Reuters | 2 years ago

Singapore Real Estate Giant Eyes Hard-Hit Japanese Hotels With $500 Million Fund

Coronavirus

Blackstone Makes $6.2 Billion Bid for Troubled Australian Casino Resort Owner

Blackstone's push into casino resort ownership expands well beyond Las Vegas and into Australia, but don't call this a case of pandemic distress. Crown Resorts struggled for years due to its own alleged corruption.

Rashmi Ashok, Reuters | 3 years ago

Blackstone Makes $6.2 Billion Bid for Troubled Australian Casino Resort Owner

Hotels

Blackstone and Starwood Plan $6 Billion Extended Stay America Takeover

Blackstone and Starwood Capital keep returning to Extended Stay America, but their partnership acquisition here shows the two firms see many more deals ahead as reason to keep capital on hand.

Cameron Sperance, Skift | 3 years ago

Blackstone and Starwood Plan $6 Billion Extended Stay America Takeover