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...The survey underscores the broadly buoyant mood in the hospitality sector that has driven a return to dealmaking after the pandemic....
...Some of the biggest private equity and asset management groups — including TPG, BlackRock, T Rowe Price and CVC Capital Partners — have recently acquired credit managers as they look to diversify their assets...
...Meanwhile, listed groups including TPG, Brookfield and KKR have in recent years struck ambitious acquisitions....
...A person familiar with the matter said the boat was a Westport 164ft yacht being purchased from Fertitta, the hospitality billionaire....
...TGI Fridays said the deal would create a “global hospitality brand” offering “operational and financial flexibility, increased scale and capital to deliver continued revenue”....
...But Accolade has been hit by the Covid-19 pandemic’s damaging impact on the hospitality sector, the introduction of punitive Chinese tariffs on Australian wine in 2020 and a switch by many consumers to more...
...New layers of hospitality seating and luxury experiences cater to wealthier types of audiences....
...their bankers traversing Pebble Beach’s fairways this week, including Goldman Sachs chief David Solomon, the recently retired Morgan Stanley head James Gorman and executives from private capital groups TPG...
...The two firms had developed a thesis that travel would bounce back sharply after the global lockdowns with beaten-down travel and hospitality companies benefiting the most....
...Another investor described TPG’s involvement as “choking the company to death”....
...Those considering a punt on Cipriani’s new €500mn club venture will hope the high-end Italian hospitality group performs better than New York-listed rival Soho House....
...At the time, the company was publicly traded after having been taken private by buyout firms TPG, Bain Capital and a division of Goldman Sachs, which together still owned 32 per cent of the stock....
...Hospitality companies generally have been hit by previously pent-up “revenge” travel beginning to abate. Hertz has, however, also been hit by a specific strategic choice....
...The private sector is adding jobs largely in two areas: leisure/hospitality and private education/healthcare. These two have made up 75 per cent of private payroll gains over the past year....
...Hospitality group Accor’s relaunch of the Orient Express brand has revived interest in the train, known from literature and movies, and has opened up new possibilities for Montblanc....
...Freight rates have fallen as spending has shifted from ecommerce to hospitality. However, the CEO switch may also illustrate the difficulty some bosses have with letting go....
...Her report demonstrates the economic impact of the art trade — estimated to contribute nearly £1.6bn to the UK economy in taxes — and its ancillary expenditure in industries including insurance, hospitality...
...TPG maintains that Vice’s financial woes are of its own making....
...The combined companies are expected to benefit from tapping into Endeavor’s other businesses, which include sponsorship, ticketing and hospitality groups, as well as the WME talent agency....
...A $450mn funding deal led by TPG in 2017 was agreed to grow scripted programming and international operations, giving the group a valuation of $5.7bn....
...Five-star assets Raffles London, the lavish hotel once home to Winston Churchill’s office, underscores a new era of inflation-resistant super-luxury hospitality as foreign investors snap up trophy assets...
...With the right facilities, corporate hospitality clients would surely be queueing up to spend a small fortune on a box at Stamford Bridge for a season to entertain wealthy VIPs....
...At the same time, “experiential luxury”, such as travel and hospitality, is expected to grow at a faster rate than luxury goods such as handbags and watches....
...Vice’s sins seem to go all the way back to at least the 2017 financing round, when it raised $450mn from the likes of TPG at a frankly mental-even-at-the-time $5.7bn valuation....
...By 2017, he managed to fetch a staggering $5.7bn valuation for Vice via a $450mn investment from TPG....
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