World’s largest real estate investor wants to capitalise on post-pandemic travel boom
Blackstone has invested more than half a billion euros into hotels in southern European holiday spots over the past year, as the world’s largest real estate investor continues to expand its vast portfolio to capitalise on booming post-pandemic tourism. In the latest deal, completed on Tuesday, Blackstone has acquired the Grand Hyatt Athens from private real estate groups Henderson Park and Hines for €235mn.
The trend across southern Europe — notably Spain and Portugal — appears particularly positive, the research said, as investors seek growth in a region where global hotel brands remain underpenetrated compared to other parts of Europe. The region has suffered from an increase in fires, drought and extreme heatwaves, which risk deterring tourists. But these changes have also contributed to more bookings in the so-called “shoulder seasons” before and after the peak summer months.
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