- Blackstone (NYSE:BX) Real Estate Partners Europe agrees to acquire five Greek hotel businesses from the Louis Group at a total enterprise value of €178.6M ($197.1M).
- The five hotel businesses, with a total of 1,464 hotel rooms, are located in the Greek Islands with two in Corfu, two in Zante, and one in Crete.
- The hotels will continue to be operated by Louis Group under the management of HIP, a hospitality company owned by funds managed by Blackstone.
- Through HIP, Blackstone will invest meaningful capital to renovate and reposition these hotels.