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.
