• Blackstone seizes 14 hotels

Blackstone Group is reported to have taken ownership of 14 hotels it sold to Columbia Sussex five years ago.

The hotels are thought to include 13 which it has appointed Interstate Hotels and Resorts to operate. Blackstone acquired the junior debt on the sites in October and had been expected to take control of the properties when a $539m came due.

See the full story here:
http://www.bloomberg.com/news/2010-12-09/blackstone-said-to-seize-14-columbia-sussex-hotels-it-sold-five-years-ago.html

Share →