NEW YORK, July 5 Following up on Blackstone's acquiring Hilton Hotels for $26 billion in cash, the big question is said to be whether Marriott or Starwood might be next.
The deal, fueling a flurry of speculation, means acquisitive private-equity buyers have finally cracked the Big Three of U.S.-based publicly held hotel giants, the Wall Street Journal said.
Under the plan, Blackstone will pay $47.50 a share, a 40 percent premium to Monday's closing price of $33.87, and assume $6 billion in debt, the Journal said.
Blackstone already controls more than 100,000 hotel rooms in the United States and Europe, including LaQuinta Inns and Suites and LXR Luxury Resorts & Hotels.
Hilton's hotels include the flagship Hilton chain as well as Embassy Suites, Doubletree, Hampton Inn and the luxury Waldorf Astoria collection, some 2,800 hotels and more than 480,000 rooms worldwide.
Copyright 2007 by UPI
