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Blackstone to buy portfolio of Japanese hotels
Major industry investor Blackstone Real Estate has agreed a deal to buy a portfolio of eight hotels in Japan. It is purchasing the hotels from railway holding company Kintetsu Group Holdings. According to local media, the transaction is worth about €466 million.
Blackstone described them as ‘marquee assets’ in the Japan hospitality market.
Kintetsu, which owns 16 other hotels not included in the transaction, said it would continue to operate the hotels.
Blackstone has a major portfolio of hospitality assets globally including Las Vegas strip hotel casinos, and just recently tabled a bid to but Australia’s Crown Resorts.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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