Hotel owner Belmond is looking at a sale. Guess who’s interested?

Blackstone, Ashkenazy consider offer for 21 Club owner

TRD New York TRD WEEKEND EDITION /
Oct.October 06, 2018 12:00 PM

21 Club at  21 West 52nd Street (Credit: Wikipedia)

Ashkenazy Acquisition and the Blackstone Group are among a number of firms considering buying the hospitality company Belmond Ltd., which owns the 21 Club in New York City and has a market cap of $1.8 billion.

KSL Capital Partners, Hyatt Hotels and Hilton Worldwide Holdings are also interested, Bloomberg reported.

Belmond said in August that it hired Goldman Sachs and JPMorgan Chase to explore a sale, and its share price has risen by more than 60 percent since. Bids are due this month.

Apart from 21, Belmond owns luxury hotels and restaurants globally, such as the Belmond Hotel Cipriani in Venice and the Belmond Copacabana Palace in Rio de Janeiro. [Bloomberg]—Konrad Putzier


Related Articles

arrow_forward_ios
Gov. Andrew Cuomo (Getty, iStock)

Commercial eviction and foreclosure ban extended until January

Commercial eviction and foreclosure ban extended until January
The Manhattan office market’s overall vacancy rate rose to a 24-year high of 13.3% in the third quarter (iStock)

Cushman & Wakefield paints bleak picture for Manhattan office market

Cushman & Wakefield paints bleak picture for Manhattan office market
Travis Kalanick (Getty; iStock)

Travis Kalanick cooks up a real estate empire

Travis Kalanick cooks up a real estate empire
Nightingale's Elie Schwartz and Madison's Brian Shatz (Whale Square)

Nightingale buys Whale Square in Sunset Park for $84M

Nightingale buys Whale Square in Sunset Park for $84M
Investors worry that New York City’s battered commercial real estate sector is indicative of larger issues nationwide with hotels, restaurants and retail. (iStock)

New York’s CRE woes could spread nationwide: investors

New York’s CRE woes could spread nationwide: investors
Subversive CEO Richard Acosta (Photos via ICSC; iStock)

Riding high: Inception, Subversive to launch publicly traded cannabis REIT

Riding high: Inception, Subversive to launch publicly traded cannabis REIT
Gov. Andrew Cuomo announced that movie theaters in some New York counties can reopen, but NYC’s theaters are excluded for now. (Getty; iStock)

Cuomo: Movie theaters can reopen — but not in NYC

Cuomo: Movie theaters can reopen — but not in NYC
Blackstone’s Stephen Schwarzman, Roku CEO Anthony Wood and Coleman Highline in San Jose (Blackstone; Wikipedia Commons; Coleman Highline)

Blackstone buys Roku’s Silicon Valley office buildings

Blackstone buys Roku’s Silicon Valley office buildings
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...