Blackstone to buy five hotels in Greek islands

20.09.2019 - Korneychuk Evgeniya
Blackstone to buy five hotels in Greek islands

Blackstone to buy five hotels in Greek islands

Blackstone Real Estate Partners Europe, a unit of U.S. private equity firm Blackstone Group, agreed to buy five hotels in Greece from Louis Group in a deal valued at 178.6 million euros ($197 million), the firm said on Friday.

Greece has seen an upsurge in tourism in recent years. A record number of about 33 million visited per year.

The five hotel businesses are all located in the Greek islands, with two in Corfu, two in Zakynthos, and one in Crete.

Under the deal, Louis group will continue to operate the hotels under the management of HIP, a firm acquired by Blackstone real estate funds in 2017.

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