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Blackstone to sell European hotels in response to investor demand, says report

27 May 2016 by
Blackstone to sell European hotels in response to investor demand, says report

Private equity property investment giant Blackstone plans to sell Hilton Worldwide hotels in London, Dublin and Amsterdam.

The hotels which are operated under Hilton Worldwide Holdings' DoubleTree brand, are being sold in response to the growing demand from investors wanting to buy into the hotel sector as travel in the region continues to rise, according to a report in Bloomberg.

Blackstone is the biggest shareholder in Hilton, owning about 46% of the hospitality company's shares, according to data compiled by Bloomberg.

The company claims to be the largest real estate private equity firm in the world with $101 billion of assets under management.

Broker Eastdil Secured LLC has been appointed to sell the DoubleTree by Hilton at the Tower of London, valued at about £350m, the report claims.

Eastdil and CBRE Hotels are offering the Amsterdam DoubleTree hotel for around 340m euros, on behalf of Blackstone, with Savills organising the sale of the Dublin Double Tree hotel which is the former Burlington hotel.

The property is valued at about 180m euros The three hotels have more than 500 rooms each.

Blackstone and Hilton declined to comment.

Marriott International buys Starwood Hotels in £8b deal >>

Secondary offering of shares for Hilton Worldwide >>

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