Alternative investment management major Blackstone Inc. (NYSE: BX) recently revealed that it has completed the acquisition of Crown Resorts Ltd. for $6.3 billion. Crown Resorts owns and operates numerous resorts in Perth, Melbourne and Sydney. The buyout reflects the fact that Blackstone is betting big on the global travel industry, which is recovering from the prolonged impact of the pandemic. Blackstone believes that the demand for the company’s resorts will rise on the back of the increase in air travel. Blackstone’s Head of Real Estate in Asia, Chris Heady, said, “There’s a collective sense of wanting-to-get back out there.
https://www.tipranks.com/news/blackstone-acquires-a-prominent-resort-operator-in-oz?utm_source=advfn.com&utm_medium=referral
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