July 4, 2009 |
Blackstone Group, the buyout firm that owns Hilton Hotels Corp., sold a golf resort near Carmel to an investment firm led by John Pritzker for $20 million. Pritzker, the founding partner of San Francisco-based Geolo Capital and son of the late billionaire Hyatt Hotels founder Jay Pritzker, said his company would spend about $25 million to upgrade Carmel Valley Ranch during the next 18 to 24 months. The resort is spread over 400 acres, and Pritzker's plans include room renovations and a spa.
March 29, 2014 |
This time last year, investment firms raced to buy dozens of single-family homes in neighborhoods from Fontana to South Los Angeles to lease them out, transforming the mom-and-pop rental business into a Wall Street juggernaut. The flood of cash helped spark a steep rise in prices, drawing criticism for pushing families out of the market. But now the firms themselves have all but stopped buying in Southern California, the latest evidence that home prices have hit a ceiling. The professional investors no longer see bargains here.
May 22, 2012 |
Motel 6 and Studio 6, the no-frills budget hotel chains that once offered rooms for $6 a night, are being sold by French parent Accor for $1.9 billion. Their new owner, an affiliate of private equity firm Blackstone Group, already owns Hilton Worldwide. Blackstone's Real Estate Partners VII fund said it plans to "accelerate the expansion of the franchise base" for Motel 6 and Studio 6. Accor said it will use proceeds from the sale to slash its debt and grow its luxury Sofitel and Novotel hotels in expanding markets such as Asia, Latin America and Europe.
April 2, 2014 |
Amid ongoing controversy over its killer whale shows, SeaWorld Entertainment Inc. reported a 13% drop in attendance for the first three months of the year. The attendance numbers were included in a notice to the Securities and Exchange Commission that SeaWorld was buying 1.75 million of its own shares from Blackstone Group. The notice said attendance for the three-month period that ended March 31 dropped to about 3.05 million visitors from 3.5 million in the same period in 2013.
April 3, 2014 |
Amid ongoing controversy over its killer whale shows, SeaWorld Entertainment Inc. reported a 13% drop in attendance for the first three months of the year. The attendance numbers were included in a notice to the Securities and Exchange Commission that SeaWorld was buying 1.75 million of its own shares from private equity firm Blackstone Group. The notice said attendance for the quarter that ended March 31 dropped to about 3.05 million visitors from 3.5 million in the same period in 2013.
April 18, 2013 |
You know Los Angeles has become a tough real estate market when it's hard for even Jon Gray to find a bargain. “It's become harder, because the pricing has moved up,” said Gray, the global head of real estate for private equity firm Blackstone Group. “L.A. is probably the toughest market.” As chief of one of the world's largest real estate investment funds, with $60 billion in assets, Gray is the walking embodiment of the term “smart money.” To put it succinctly, he is “the man with the bank account,” which was how Mayor Antonio Villaraigosa introduced him Thursday at a chummy ceremony in downtown's Arts District.
April 9, 2013 |
Shamu plans to soak Wall Street with a greater splash than previously thought. SeaWorld Entertainment Inc. - the company known for its performing killer whale - could raise $540 million in an initial public offering on the New York Stock Exchange. That's $440 million more than its initial filing in December showed, and $40 million larger than a filing Monday. Now, the theme park company said it plans to offer 20 million shares priced between $24 and $27, according to a Tuesday filing with the Securities and Exchange Commission.