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Eight luxury hotels fetch $950 million
Blackstone Group has bought U.K. hotel group Mint for about $950 million, The Wall Street Journal reports. New York-based Blackstone, a private equity firm that also owns Hilton Worldwide, will take over Mint’s eight four-star hotels, consisting of seven in the U.K. and one in Amsterdam.
“After nearly 16 years spent building Mint into the brand that it now is, a transaction has been agreed that gives the business a new future,” company co-founder David Orr said in a statement. “In Blackstone, the business now has a global investor with a strong and expansive track record in the hospitality sector. We feel confident that they will continue to manage the hotels in a manner that is true to its business identity.”
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