No reservations: PE activity in hotels & resorts reaches new highs
March 15, 2016
If you hadn’t heard of Beijing-based Anbang Insurance Group before, you probably have by now, what with the flood of headlines surrounding its multibillion-dollar takeover offers for two U.S. hotel & resort businesses. Anbang is reportedly buying Strategic Hotels & Resorts from Blackstone for $6.5 billion, mere months after Blackstone itself acquired the company for about $6 billion. What’s more, Starwood Hotels & Resorts (NYSE: HOT) recently announced an unsolicited $12.8 billion acquisition proposal from a consortium that reportedly includes Anbang, J.C. Flowers & Co. and Primavera Capital Group.
Globally, private equity activity in the hotels & resorts sector has reached new highs in recent years. Click here to read more and to see the most active PE investors in the space since 2009.