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Keith Lindsay, the former global head of hospitality and leisure at AIG Global Real Estate, has been appointed to oversee Orco's hospitality investments in Central Europe.
The Dubai-based private equity firm is nearing the first close of its $200m MENA-focused hospitality fund, and has begun marketing another $530m fund specifically for Saudi Arabia.
Despite a massive constriction in liquidity and warnings of a US recession, Blackstone real estate co-head Jonathan Gray told a PREA audience that the hotel industry remains positive.
The private real estate investment company controlled by media pioneer Robert Johnson has raised its third private equity real estate vehicle, more than double the size of its previous fund.
At mid-year, 2007 looks set to be another banner year for hotel buyouts.
The hospitality company owned by sports magnate Sheila Johnson has ventured into golf course real estate with the acquisition of the Innisbrook resort from Golf Trust of America, a links REIT liquidating its portfolio.
Hermes Private Equity has returned to the hospitality sector with a minority stake in a French holiday park operator, its first investment in the sector since it sold a hotel chain, Galaxie Hotels, in 2005.
The Greenwich-based private equity real estate firm is teaming up with China’s largest hotel operator to develop hospitality projects in the country.
Robert Johnson’s second hospitality fund will have $2.5bn in buying power, most of which will be used to acquire a $1.7bn hotel portfolio from White Lodging Services.
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