search

The Real Deal Logo

Trending

Rent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsH-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loanLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
Commercial
New York

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

Blackstone, Ashkenazy consider offer for 21 Club owner

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

Sign Up for the undefined Newsletter

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

Tags
Commercial Real EstateHotel Market