Thursday, July 5, 2007
One private equity group who definitely thinks there will not be a property crash some time soon!
Hilton Hotels owns or operates 2,800 hotels and 480,000 rooms in 76 countries and territories and includes such brands as Doubletree, Embassy Suites and Hampton Inn. Among Hilton's premier hotels is the Waldorf-Astoria in New York. Blackstone said it intends to invest heavily in Hilton and does not foresee any significant divestitures. Blackstone noted that it had invested nearly $1 billion in its LXR properties over the last three years and has grown the La Quinta brand by approximately 45 percent since buying it in January 2006.