blackstone
Global Travel Technology Company OYO To Acquire G6 Hospitality From Blackstone Real Estate for $525M
OYO | September 23, 2024
New Delhi & Dallas – September 23, 2024 – Oravel Stays, the parent company of the global travel technology company OYO, today announced that it has agreed to acquire G6 Hospitality, the leading economy lodging franchisor and parent company of the iconic Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million, in an all-cash transaction. OYO has steadily expanded its footprint in the United States since its launch in the region in 2019 and currently operates over 320 hotels across 35 states. In 2023, OYO added nearly 100 hotels to its US portfolio and aims to add ~250 hotels in 2024. Motel 6’s franchise network pro...
Blackstone Real Estate Acquires Village Hotels
Blackstone Real Estate | June 28, 2024
LONDON, UK – June 28, 2024 – Blackstone Real Estate (“Blackstone”) announced on June 26th that funds managed by Blackstone have completed the acquisition of Village Hotels, a hotel owner, operator and developer, from affiliates of KSL Capital Partners, a leading investor in travel and leisure businesses. Village Hotels owns and operates 33 well-located assets in large regional cities and suburban areas across the UK. Representing 4,400 hotel keys, it operates as an “all under one roof” leisure destination, offering traditional full-service hotel stays, fitness clubs, food and beverage outlets, and co-working spaces. Thanks to i...
Great Wolf Lodge Expands Its Pocono Mountains Resort With Completion of $125 Million Resort-Wide Transformation
Great Wolf Resorts, Inc. | October 6, 2023
Scotrun, Pa. – (Oct. 6, 2023) – Great Wolf Lodge Pocono Mountains celebrated the completion of an expansive $125 million, top-to-bottom resort transformation that will give families new reasons to visit the beloved indoor water park resort. Actress and Broadway icon Sutton Foster, and renowned interior designer Nate Berkus were on-hand to help celebrate the official launch of the completely reimagined resort, with Berkus cutting the ribbon for the elegantly-appointed three-bedroom Woodland Villas and Foster capping the festivities by launching a spectacular drone show over the resort. “Our Pocono Mountain resort has long been one of ou...
Kolter Hospitality Acquires Hyatt House and Hyatt Place Fort Lauderdale Airport & Cruise Port in Dania Beach
July 18, 2023
Delray Beach, Fla.—July 18, 2023— Kolter Hospitality announced the acquisition of Hyatt House Fort Lauderdale Airport & Cruise Port and Hyatt Place Fort Lauderdale Airport & Cruise Port, located in Dania Beach. The deal with Blackstone will bring a total of 292 rooms to Kolter Hospitality’s growing portfolio. The hotels are: Hyatt House Fort Lauderdale Airport & Cruise Port at 90 S.W. 18th Ave. in Dania Beach Hyatt Place Fort Lauderdale Airport & Cruise Port at 91 S.W. 18th Ave. in Dania Beach “Hyatt is a globally respected brand that Kolter Hospitality has a very long and successful relationship with,"...
Ryman Closes Acquisition of JW Marriott San Antonio Hill Country Resort & Spa From Blackstone REIT for $800M
Ryman Hospitality Properties, Inc. | July 5, 2023
NASHVILLE, Tenn., July 5, 2023 -- Ryman Hospitality Properties, Inc. (NYSE: RHP) (“Ryman”) announced today it has closed the previously announced acquisition of the JW Marriott San Antonio Hill Country Resort & Spa (“JW Hill Country”) in San Antonio, Texas from Blackstone Real Estate Income Trust, Inc. Mark Fioravanti, President and Chief Executive Officer of Ryman Hospitality Properties, said, “I want to thank our Ryman team and the Blackstone team for facilitating a smooth closing process. We are excited to begin integrating this beautiful resort into our one-of-a-kind portfolio of group hotels and look forward to pursuing...
The 700-suite Great Wolf Lodge Maryland Opens in Perryville, Maryland
Great Wolf Resorts, Inc. | June 30, 2023
PERRYVILLE, Maryland – (June 30, 2023) – Maryland governor Wes Moore and Baltimore-born actor/producer/podcaster Anna Faris joined Great Wolf Resorts Chief Executive Officer, John Murphy, this morning for the official grand opening of Great Wolf Lodge Maryland. The new lodge in Perryville, Maryland marks the 20thresort in North America for the family entertainment and indoor water park resort brand, and its largest, with 700 family-friendly suites and an expansive 128,000 square-foot indoor water park featuring 22 slides for every age and thrill level. “Great Wolf Lodge Maryland was built specifically for families and brings a new ...
Blackstone Completes Acquisition of Cvent for $4.6 Billion
Cvent | June 15, 2023
TYSONS, VA – June 15, 2023 – Cvent Holding Corp. (“Cvent”), an industry-leading meetings, events and hospitality technology provider, today announced the completion of its acquisition by an affiliate of private equity funds managed by Blackstone (“Blackstone”) for $8.50 per share in cash, representing a total enterprise value of approximately $4.6 billion. The transaction, which was previously announced on March 14, 2023, includes a significant minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and participation from existing stockholder Vista Equity Partners (“Vista”). As a resu...
Cvent To Be Acquired By Blackstone in $4.6 Billion Transaction
Cvent | March 14, 2023
Purchase Price of $8.50 Per Share Represents a 52% Premium Over 90-day VWAP of Unaffected Share Price Tysons, Va. – March 14, 2023 – Cvent Holding Corp. (“Cvent”) (Nasdaq: CVT), an industry-leading meetings, events and hospitality technology provider, today announced that it has entered into a definitive agreement to be acquired by an affiliate of private equity funds managed by Blackstone (“Blackstone”) in a transaction valued at an enterprise value of approximately $4.6 billion. Under the terms of the agreement, Cvent stockholders will receive $8.50 per share in cash, representing a premium of 52 percent to the volume weigh...
