Blackstone Pays $950M For UK Hotels As Olympics Near

Law360, New York (September 16, 2011, 7:28 PM EDT) -- Blackstone Group LP announced Friday that it had acquired London-based hotel chain Mint Hotel for a reported $950 million, marking the biggest European hotel buy in four years as the British hospitality sector readies for the 2012 Olympics.

The U.S.-based investment firm will acquire Mint's seven U.K. properties — which include London's biggest hotel, the Mint Hotel Tower of London — and a newly opened hotel in Amsterdam.

“After nearly 16 years spent building Mint into the brand that it now is, a transaction has been...
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