Blackstone Shares Jump on Hilton Deal eyes Starwood
July 5, 2007
Since announcing that it will puchase the Hilton Hotel chain, new IPO Blackstone (who owns La Quinta Inns, Legoland Theme Parks, and part of Universal-Orlando) has jumpped. They see Hotels as being relitively low risk real estate investments in the current market. There is some rumors that they may be going after Starwood Hotels (where Matt Ouimet currently is CMO) as well. As of this posting shares of Blackstone are up 91 cents on the news.
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