Blackstone Forms Luxury Resort Unit
Blackstone Real Estate Advisors, the new lodging industry powerhouse, is consolidating its resort portfolio. The company's newly formed LXR Luxury Resorts combines 14 Wyndham resorts with seven properties from Blackstone's Boca Hospitality Collection and its Prime Hospitality holdings.
The Wyndham properties joining the collection will drop the brand name and revert to their original designations. Among the properties in this group are the El Conquistador Resort in Puerto Rico, The Boulders in Arizona, The Peaks in Telluride and Casa Marina in Key West.
Former Boca Hospitality Collection executives Joseph Berger and Jean-Jacques Pergant are co-presidents of the group, while John Tolbert heads sales and marketing.
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