US private equity firm Blackstone is reportedly gearing up for an initial public offering (IPO) of Hotel Investment Partners (HIP), a company it owns in Barcelona, on the Spanish stock exchange. The IPO, expected to occur between late October and early November, could value HIP at a minimum of $6.9 billion, approximately €6 billion to €7 billion. This strategic move has been anticipated for nearly two years as Blackstone has considered selling off the hotel group.
Planned Launch on Madrid’s Stock Exchange
The IPO filing is anticipated to be submitted to Spain’s securities regulator in early October. Hotel Investment Partners’ portfolio consists of 61 hotels, placing it as a significant player in the Mediterranean region’s hospitality sector.
Despite inquiries from media outlets, neither Blackstone nor HIP have provided comments or official statements regarding the upcoming public listing. This initiative comes as Blackstone aims to capitalise on HIP’s value and market potential by transitioning the company to a public entity.
Reporting based on coverage first published by skift.com.