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BUSINESS
July 14, 2005 | Roger Vincent, Times Staff Writer
Legoland has a new landlord. Blackstone Group, a New York investment firm, said Wednesday that it had agreed to buy Lego Group's four family entertainment parks, including one in Carlsbad in San Diego County, for $457 million. The sale follows Blackstone's $187-million acquisition in May of Merlin Entertainment Group, a London company that operates 28 tourist attractions in eight European countries under the Dungeons, Sea Life, Seal Sanctuary and Earth Explorer brands.
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BUSINESS
March 29, 2014 | By Tim Logan
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.
BUSINESS
June 20, 2007 | Walter Hamilton, Times Staff Writer
Blackstone Group has moved up its huge and highly anticipated initial public stock offering to this week, suggesting strong investor demand for the stock despite newly proposed legislation that would significantly increase taxes on the private equity goliath. The IPO shares are now expected to be priced Thursday and to begin public trading Friday. The offering previously was scheduled for next week. After two U.S.
BUSINESS
October 3, 2009 | Stuart Pfeifer
SeaWorld in San Diego, the fourth-most-popular theme park in California, may soon have a new owner. Reports surfaced Friday that private equity firm Blackstone Group is closing in on a deal to buy 10 theme parks owned and operated by Anheuser-Busch InBev. Busch Entertainment Corp.'s largest parks include SeaWorld attractions in San Diego, San Antonio and Orlando, Fla., as well as Busch Gardens parks in Tampa, Fla., and Williamsburg, Va. The Wall Street Journal reported Friday that Blackstone Group is in the process of acquiring the theme parks for $2.5 billion to $3 billion.
BUSINESS
July 4, 2009 | Bloomberg News
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.
BUSINESS
April 3, 2014 | By Hugo Martín
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.
BUSINESS
April 18, 2013 | By Alejandro Lazo
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.
BUSINESS
February 7, 2011 | By Roger Vincent, Los Angeles Times
The historic Hotel del Coronado, one of the country's most legendary inns, has a new majority owner ?Blackstone Real Estate Advisors, a division of Wall Street powerhouse Blackstone Group. Blackstone stepped in as the previous majority owner, Strategic Hotels & Resorts, faced a $630-million loan balance due this month. The recapitalization with Blackstone values the hotel at about $590 million and gives Blackstone a 60% ownership interest, Strategic Hotels said Monday. Strategic Hotels retains 34.3% of the ownership, and La Quinta-based KSL Resorts, the hotel's operator, retains 5.7%.
BUSINESS
May 22, 2012 | By Tiffany Hsu
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.
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