Blackstone Bets Billions on Reopening and Travel Revival
- ‘Economic dam is starting to break,’ the firm’s president says
- Investments include hotels, private jets and a travel company
This article is for subscribers only.
Blackstone Group Inc. is doubling down on a post-Covid 19 economic recovery, investing heavily in businesses that will benefit from a world that’s gradually reopening.
New York-based Blackstone invested $17.7 billion in the first three months of the year, buying hotels including Extended Stay America Inc., private-jet operator Signature Aviation Plc and U.K. travel company Bourne Leisure. Investors continued to bet solidly on Blackstone, which saw its assets under management swell to a record $648.8 billion, the company said Thursday in an earnings report.