Blackstone Prepares Sale of Spain's Hotel Investment Partners
Blackstone, a private equity firm, is reportedly gearing up to sell Hotel Investment Partners (HIP), a Spain-based hotel chain valued at €6.5 billion ($6.77 billion). The news was first reported by Spanish newspaper Cinco Dias, which cited unidentified market sources.
HIP's portfolio includes 73 hotels with over 22,000 rooms across Spain, Portugal, Italy, and Greece. Blackstone is reportedly exploring two options for the divestment: selling its 65% stake in HIP or launching an initial public offering (IPO).
Cinco Dias reports that Blackstone has not yet responded to requests for comment, nor has HIP. Blackstone acquired HIP from Banco Sabadell in 2017.