Colony Capital completes exit from hospitality business
Colony Capital has completed the sale of six hospitality portfolios to Highgate and an affiliate of Cerberus Capital Management for $2.8 billion. The transaction concludes...
Crown Resorts receives $6.2bn acquisition proposal from Blackstone
Australian casino operator Crown Resorts has received an acquisition proposal from Blackstone that values the company at A$8.02 billion ($6.2 billion). Crown Resorts said on...
BMO REP buys two newly developed hotels in UK
BMO Real Estate Partners has completed the acquisition of two newly developed Travelodge hotels. The two pre-let developments funded by BMO REP on behalf...
Blackstone, Starwood Capital to acquire Extended Stay for $6bn
Blackstone Real Estate Partners and Starwood Capital Group have agreed to acquire Extended Stay America, Inc., headquartered in Charlotte, North Carolina, the largest integrated...
VICI Properties, Apollo funds to buy Venetian Resort Las Vegas for $6.25bn
VICI Properties and Apollo Global Management have entered into a definitive agreement to acquire the Venetian Resort Las Vegas and the Sands Expo and...
Starwood provides £1.8bn loan for Blackstone’s UK holiday company buy
Starwood Capital Group has originated a £1.8bn term loan as mandated lead arrangers to Blackstone Capital Partners and Blackstone Real Estate Partners for the...
Acore raises $1bn to provide rescue capital to hotels
Commercial real estate finance company Acore Capital has raised $1 billion to provide rescue capital to North American hotel operators. The company has launched Acore...
Accor sells stake in Huazhu for €239m
Accor has sold a 1.5% stake in Huazhu Group Limited, a multi-brand hotel management company in China, for €239 million. Accor said, after this transaction, it owns a 3.3% stake in Huazhu and...
JLL appoints Gilda Perez-Alvarado as global CEO, hotels & hospitality
JLL has appointed Gilda Perez-Alvarado as global CEO of its Hotels & Hospitality Group. Gilda Perez-Alvarado will succeed Mark Wynne-Smith, who will continue as...
Marriott CEO Arne Sorenson dies at age 62
Arne Sorenson, the president and chief executive officer of Marriott International Inc., has passed away on February 15, 2021 at the age of 62. In May...