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MONDAY, NOVEMBER 23, 2009
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Euro Hotels Hot After Blackstone Deal

Stocks soar on speculation of more private equity buyouts

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(Newser) – Investors are snapping up shares of some Europe's biggest hotel chains, the Financial Times reports, as the market bets that more private equity firms will tuck into new cross-Atlantic deals. They're inspired by Blackstone's $26 billion Hilton offer, and a banner year for hotel buyouts more generally.

Targets could include the UK's Intercontinental chain, France's Accor, and Spain's Sol Melia. But some market analysts are doubtful. They point out that Hilton’s attractiveness stemmed in part from its activity in real estate investment trusts—a sphere most European chains have yet to enter. Europeans shouldn’t get their hopes up, says one hospitality sector i-banker. "The North American market is different."

Six Continents Rejects Takeover Offer
Six Continents Rejects Takeover Offer   (Getty Images)
Sofitel Structure Tapped As Best New Chicago Building In Past Ten Years
Sofitel Structure Tapped As Best New Chicago Building In Past Ten Years   (Getty Images)
The Beverly Hilton hotel is seen in Beverly Hills, Calif., Wednesday, July 4, 2007. Fresh off a blockbuster initial public offering, private-equity firm Blackstone Group solidified its position as the power to reckon with on Wall Street with a multibillion deal that gives the company control over a hotel empire...
The Beverly Hilton hotel is seen in Beverly Hills, Calif., Wednesday, July 4, 2007. Fresh off a blockbuster initial public offering, private-equity firm Blackstone Group solidified its position as the...   (Associated Press)
The luxurious lobby at the Willard Intercontinental Hotel in Washington, D.Cl., January 11, 2001. The best hotels in the nation's capital make a killing every four years when people from back home flo
The luxurious lobby at the Willard Intercontinental Hotel in Washington, D.Cl., January 11, 2001. The best hotels in the nation's capital make a killing every four years when people from back home flo   (KRT Photos)
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private equity • Blackstone Group • Europe • Accor • Sol Melia • hotel • Hilton • Intercontinental

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