Hints and tips:
...It followed last year’s $6bn acquisition of Extended Stay America, a lodging chain geared towards out-of-town workers and others who spend long spells away from home....
...Budget extended-stay hotels have been one of the few bright spots in the pandemic-hit lodging industry. These chains tend to have larger rooms with decent kitchens and self-service laundry....
...In March, US lodging chain Extended Stay America announced that it would be acquired by a partnership that included Blackstone for $6bn....
...Mr Loveman’s insights from collecting the gambling, dining and lodging habits of Caesars customers led to the creation of a loyalty programme called Total Rewards....
...One of those has been with US alternative asset manager Blackstone, a relationship that has proved critical to Anbang’s expansion into lodging....
...At the other, a series of downmarket chains offer cheaper lodging for more budget-conscious Chinese travellers. Mr Wu reckoned there was a market for a more stylish but still affordable hotel chain....
...Blackstone put up nearly $1bn in additional cash to refinance Hilton’s debt, which eventually paid off, generating $8.5bn for Blackstone when Hilton went public in the biggest-ever lodging IPO last year....
...This is already happening as evidenced by recent yieldco deals and announcements: refineries (NTI, CVRR) drilling rigs (SDLP, RIGP), Jones Act tankers (KMI), work-force lodging (CVEO), solar farms (TERP,...
...Blackstone, meanwhile, owns a giant chunk of Hilton, which it took public in the biggest-ever lodging IPO last year....
...Extended Stay America’s initial public offering on Wednesday marks a turnround for the once-troubled lodging company as its private equity owners take advantage of a US hotel sector comeback....
...The world’s biggest lodging company by rooms raised $2.35bn in an initial public offering, the largest ever by a hotel operator....
...It is in hotels and hospitality sector that Blackstone has been most active, with public market exits planned for hotel group Hilton Worldwide, mid-price lodging chain Extended Stay America, and an IPO or...
...Over the next year or so the buyout group is preparing to list hotel conglomerate Hilton Worldwide and mid-price lodging chain Extended Stay America, and is teeing up an offering or potential sale of La...
...At least one major trading house is looking at lodging an application with the US government for a licence to export cheaper Canadian crude via the US Gulf Coast to higher priced international markets, according...
...And so these demand and supply dynamics make the lodging industry attractive enough to coax Blackstone into putting up the for-sale sign....
...Last month, it filed plans to list Extended Stay America, a mid-price lodging chain, and Brixmor Property Group, its shopping centre unit....
...As Mariacristina Bulgari, the lawyer leading the case for Studio Legale Sutti, told us: Studio Legale Sutti is in the process of lodging a second application of non- contractual liability, in accordance...
...On Friday, the group also announced that it had completed the purchase of the 480-room Novotel Hotel in New York’s Times Square, in partnership with the Chartres Lodging Group....
...Cerberus Capital Management and Chatham Lodging Trust terminated their $1.1bn agreement to buy 64 hotels from Innkeepers USA Trust, Bloomberg reports....
...Meanwhile Blackstone’s real estate portfolio, which is heavily concentrated in lodging and offices, was marked down 19 percent after a 30 percent drop in value in 2008....
...The build-up in lodging supply was nothing like as extensive as in previous cycles, he added....
...The US lodging industry cratered in 2001 owing to overbuilding, a corporate-led recession and lack of demand....
...Colony is also part-owner of Fairmont Hotels, the Canadian luxury lodging group, alongside Kingdom Holdings, the investment vehicle of Prince Al-waleed bin Talal of Saudi Arabia....
...Colony is also part-owner of Fairmont Hotels, the Canadian luxury lodging group, alongside Kingdom Holdings, the investment vehicle of Prince Alwaleed bin Talal of Saudi Arabia....
...during the second world war, seems to have been more interested in getting the markets to recognise that casino operators’ values, with their strong cash flows and property assets, should resemble the lodging...
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