Business / news
Blackstone Reportedly Plans $7 Billion IPO of Spanish Resort Owner Hotel Investment Partners
Blackstone is preparing an initial public offering for Barcelona-based Hotel Investment Partners that could value the Mediterranean resort owner at €6 billion to €7 billion ($6.9 billion or more). The listing on Spain's stock exchange is targeted for late October or early November.
After nearly two years of weighing a sale of Hotel Investment Partners, Blackstone is steering the Barcelona-based company toward a Madrid listing.
The IPO is expected to value the hotel and resort owner at €6 billion to €7 billion, or at least $6.9 billion. The offering is targeted for late October or early November, with a filing planned at Spain's securities regulator in early October.
Hotel Investment Partners' portfolio spans 61 hotels and resorts across the Mediterranean. The company has also partnered with Italian brand Mangia's to reposition classic seaside properties into luxury destinations.
Neither Blackstone nor Hotel Investment Partners has commented on the proposed listing.