Buyout firms are licking their lips as hotel REITs slump, with giants like Blackstone waiting in the wings to scoop up hotels while shares are low.
“Market volatility creates opportunities for longer-term, value-oriented investors like ourselves,” said Tyler Henritze, co-head of Blackstone’s US real estate acquisitions, which raised a record $15.8B fund in 2015.
Blackstone has taken its fair share of hotel opportunities lately, buying up Strategic Hotels & Resorts for $6B over the past year, pushing total hotel transactions up to $49.7B in 2015, Bloomberg reports.
Transactions slowed down in Q4 ’15, but the dip in REIT shares could bring dealmakers looking for cheap value back to the table. [Bloomberg]
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