Blackstone Group prepares to go public

The Blackstone Group, a global private equity firm that has been involved in several large travel company acquisitions over the years, is preparing to go public.

The firm filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering. The firm said it also intends to apply to list on the New York Stock Exchange.

Over the past two years, the Blackstone Group has acquired or sold several travel companies.

Acquisitions include Travelport (purchased for $4.3 billion), the MeriStar Hospitality Corp. (purchased for $2.6 billion) and the La Quinta Corp. (purchased for $34 billion).

It also sold the Dallas-based Wyndham hotel chain to Cendant for $101 million and the Budgetel hotel brand, once part of La Quinta, for an undisclosed sum to a private group of investors.

To contact the reporter who wrote this article, send e-mail to Michael Milligan at [email protected].


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