Blackstone Unit Gets Majority Ownership of Hotel del Coronado
From The Los Angeles Times:
Blackstone Unit Gets Majority Ownership of Hotel del Coronado
The historic Hotel del Coronado, one of the country's most legendary inns, has a new majority owner —Blackstone Real Estate Advisors, a division of Wall Street powerhouse Blackstone Group. Blackstone stepped in as the previous majority owner, Strategic Hotels & Resorts, faced a $630-million loan balance due this month. The recapitalization with Blackstone values the hotel at about $590 million and gives Blackstone a 60% ownership interest, Strategic Hotels said Monday. Click here for the full story.
Want to use this article? Click here for options!
© 2012 Penton Media Inc.
Acceptable Use Policy blog comments powered by Disqus
Most Recent
Career Center
| Enter Keyword(s):
Enter a City: Select a State: Select a Category:  |
|
