Blackstone‑backed hotel platform HIP plans to raise over €500 million in an autumn IPO to fund further hotel acquisitions
Executive summary: Blackstone-backed hotel platform HIP announced plans to raise over €500 million in an IPO slated for early October, with proceeds earmarked for acquiring additional hotels. The offering would be one of the largest private‑equity‑backed hotel IPOs in Europe this year, testing investor appetite for leveraged hospitality assets and providing Blackstone with fresh capital to expand its hotel portfolio. Blackstone (sponsor), HIP (hotel platform), Goldman Sachs, BNP Paribas, Bank of America (joint bookrunners), prospective institutional investors. A roadshow will commence in September, pricing expected in early October; if successful, HIP will use the funds to pursue targeted hotel acquisitions across key European markets.
HIP, the vehicle through which Blackstone owns a portfolio of European hotels, has enlisted Goldman Sachs, BNP Paribas and Bank of America to lead an IPO expected in early October. The offering targets €500‑750 million, with proceeds earmarked for buying additional properties, signaling Blackstone’s intent to expand its hospitality footprint via public‑market capital. The move comes amid a mixed backdrop for European IPOs, with private‑equity sponsors facing heightened SEC scrutiny of continuation funds and Spanish fiscal watchdogs warning that repeated budget extensions could weigh on growth.
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