Blackstone Announces Acquisition Of The Windsor Atlantica Hotel In Rio De Janeiro
Upscale hotel to be rebranded and managed by Hilton following a transition period
NEW YORK, NY - Blackstone today announced that funds managed by its real estate business have agreed to acquire the Windsor Atlantica Hotel on Copacabana Beach in Rio de Janeiro, Brazil. As part of the transaction, Blackstone has signed a management agreement with Hilton for this asset and following a period of transition plans to convert the hotel to the "Hilton Rio de Janeiro Copacabana".
The irreplaceable 39-floor, 545-key beachfront hotel was comprehensively renovated in 2011 by its current owner and operator, Windsor Hotels, and is a main destination for both business and leisure travelers on one of the most famous beaches in the world. Financial terms of the transaction were not disclosed.
"We are excited to acquire this one-of-a-kind premier hotel in Brazil and have been deeply impressed by Windsor's stewardship of the asset," said Marcelo Fedak, Head of Brazil for Blackstone. "In line with our ongoing engagement with the Brazilian market and in close partnership with Hilton, we are pleased to expand our presence in the hospitality sector where we see continuing opportunity."
"Hilton is focused on continued growth in Latin America and this exciting project with Blackstone allows us to expand our flagship Hilton Hotels & Resorts brand in one of the most sought-after beach destinations in the region," said E. Fabian Rodriguez Suarez, managing director development, Brazil and the Southern Cone Region, Hilton. "Brazil is a key market for Hilton's expansion efforts, and the signing of Hilton Rio de Janeiro Copacabana reinforces our strategy to deliver value for our customers, hotel owners, and shareholders."
Blackstone is a global leader in real estate investing. Blackstone's real estate business was founded in 1991 and has approximately $102 billion in investor capital under management. Blackstone's real estate portfolio includes hotel, office, retail, industrial and residential properties in the US, Europe, Asia and Latin America. Major holdings include Hilton Worldwide, Invitation Homes (single family homes), Logicor (pan-European logistics) and prime office buildings in the world's major cities. Blackstone real estate also operates one of the leading real estate finance platforms, including management of the publicly traded Blackstone Mortgage Trust.
Blackstone is one of the world's leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $360 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About Hilton Hotels & Resorts
For 100 years, Hilton Hotels & Resorts has set the benchmark for hospitality around the world, providing new product innovations and services to meet guests' evolving needs. With more than 585 hotels across six continents, Hilton Hotels & Resorts properties are located in the world’s most sought-after destinations for guests who know that where they stay matters. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits. Begin your journey at www.hilton.com, and learn more by visiting newsroom.hilton.com/hhr and following Hilton Hotels & Resorts on Facebook, Twitter, and Instagram.
Hilton (NYSE: HLT) is a leading global hospitality company with a portfolio of 17 world-class brands comprising more than 5,700 properties with more than 923,000 rooms, in 113 countries and territories. Dedicated to fulfilling its mission to be the world’s most hospitable company, Hilton earned a spot on the 2018 world’s best workplaces list, and has welcomed more than 3 billion guests in its 100-year history. Through the award-winning guest loyalty program Hilton Honors, more than 89 million members who book directly with Hilton can earn Points for hotel stays and experiences money can’t buy, plus enjoy instant benefits, including digital check-in with room selection, Digital Key, and Connected Room. Visit newsroom.hilton.com for more information, and connect with Hilton on Facebook, Twitter, LinkedIn, Instagram, and YouTube.Download Article Photos