Blackstone Bets Big on Spanish Hotels

Blackstone Group LP is seeking to become the largest hotel owner in Spain and double down on its multibillion-dollar bet on the country’s robust economic recovery and booming tourism industry.

The world’s largest real-estate investor made its first major bet on Spain’s hotel sector in October when it acquired Hotel Investment Partners from Spanish lender Banco de Sabadell SA for €630 million. HI Partners owned 14 hotels with more than 3,700 rooms.