Blackstone exits Hilton after 11 years 

Blackstone, the New York-based private equity firm, has agreed to sell its 15.8 million shares of Hilton Worldwide after 11 years of ownership, for an estimated $1.3 billion.  Blackstone acquired Hilton in a highly leveraged transaction in 2007 for $26 billion, and has since tripled its investment in what was one of the most profitable private equity transactions ever.  Hilton will buy back 1.25 million shares. Blackstone has been selling its stake in Hilton gradually in recent years, including the public re-listing of the company in 2013 and the 2016 sale of a 25% stake to the China’s HNA Group, which is now also seeking to sell its stake in Hilton as well as its stake in NH Hotels.

Minor International acquires stakes in NH Hotel Group 

The Thailand based hotel owner and operator Minor International has signed an agreement to acquire an 8.6% stake in Spain’s NH Hotel Group from the London-based hedge fund, Oceanwood Capital, for €192 million. When it completes next month, this will take Minor’s stake in NH to 9.7%, making them the Spanish operator’s second largest shareholder, after HNA (which is currently trying to sell its 30% stake). Minor also owns Portugal’s Tivoli Hotels & Resorts, which it acquired for €294 million in 2016.

Fattal Hotels sold the Leonardo Royal Hotel in Munich 

Fattal Hotels, based in Tel-Aviv, has sold the 424-room  Leonardo Royal Hotel Munich for €157 million (€370,000 per key) via a sale-and-lease-back.  The hotel, which is located next to Munich’s Olympic Park, will continue to be managed by Fattal under a 30-year lease agreement, subject to an annual rent equal to the higher of €7.2 million (4.5% yield) or 32% of the hotel’s total revenue.

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