Blackstone acquires five hotel businesses from Louis Group for $197m.

Blackstone, a leading private equity firm, through its subsidiary Blackstone Real Estate Partners, acquires five hotel businesses form Louis Group, a leading tourism and leisure group for $197m. The hotels will continue to be operated by Louis Group under the management of HIP, a hospitality company owned by funds managed by Blackstone. HIP is the largest owner of hotels in Southern Europe, and the acquisition expands its footprint to Greece. “We are delighted to announce this transaction with Blackstone. The transformation of these hotels will be a boost for the Greek tourist sector and we look forward to working with both Blackstone and HIP to enhance the experience of guests staying in these hotels.” Costakis Loizou, Louis Group Chairman.