Hey guys,
does anyone know of any famous Hotel buyouts that you could point me in the direction of?
Very fascinated about this industry but the only one I know about is Blackstone's buyout of Hilton. What else is there?
Thanks!
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are u looking for hotel company buyout or individual property deals?
Kingdom Holdings buying Fairmont / Raffles management cos and the Savoy Hotel (the actual property and not just the OpCo) in London
Thanks for the responses guys.
I'm interested in both buyouts and straight M&A deals but am mainly looking for well known companies (e.g. Hilton etc).
Thanks again.
Innkeepers USA Trust, Red Roof Inns, Eagle Hospitality Trust, Highland Hospitality, Hilton
All public companies privatized in boom times, most are in bankruptcy or something like it.
Extended Stay America
If I remember right Bill Gates and some investors bought out Four Seasons back in '06 or '07.
Like mezzmonkey was saying individual property acquisitions take place all the time, but buying out the whole hotel flag is less common. If you want info on individual property deals then you really need to look at commercial real estate databases rather than bloomberg or thompson or something like that.
Year Acquirer/Target : Price ($)
2004 Blackstone/Extended Stay America : 2.0b 2004 Blackstone/Prime Hospitality : 790.0m 2004 Blackstone/Boca Resorts : 1.1b
2005 Blackstone/Wyndham International : 3.2b 2005 Capital/Raffles Colony : 1.0b 2005 Blackstone/La Quinta Corporation : 3.4b
2006 Kingdom and Colony Capital/ Fairmont Hotels & Resorts : 3.9b 2006 Blackstone/Meristar Hospitality Corporation : 2.6b 2006 Investor Group/Kerzner International : 3.8b 2006 Westmont and Caisse de depot/Boykin : 416.0m 2006 JER Partners/Jameson : 371.0m 2006 Fortress/Intrawest Corporation : 2.8b 2006 Kingdom and Cascade and Triple Holdings/ Four Seasons Hotels : 3.4b
2007 Morgan Stanley Real Estate/CNL Hotels & Resorts : 6.6b 2007 Apollo/Inkeepers USA Trust : 1.5b 2007 JER Partners/Highland Hospitality Corporation : 2.0b 2007 Apollo/Eagle : 237.0m 2007 Morgan Stanley Real Estate/Crescent Real Estate Equities : 6.5b 2007 Apollo and Texas Pacific Group/Harrah’s : 17.1b 2007 Blackstone/Hilton : 26.0b
edit: nvm that one's already on there
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