Blackstone has bought a portfolio of 46 hotels for €620m.
The US private equity firm bought the assets from Goldman Sachs’ Whitehall fund and American Westmont Hospitality Group. Some 24 of the properties are in France, 16 are in Italy and six in Belgium.
GE Real Estate, in a joint venture with NH Hotels, is thought to have made an unsuccessful bid for the portfolio, which includes Holiday Inn and Holiday Express hotels.
Blackstone’s €19bn ($26bn) takeover of Hilton Hotels was approved by the European Union’s competition regulator last month.
CBRE advised Blackstone on the Westmont deal.
