Blackstone May be Adding Marina Marriott to Luxury Hotel Group
FT. LAUDERDALE, FL, January 27, 2006. Blackstone Group, which already owns two of Fort Lauderdale's major hotels, is expected to buy the 579-room Fort Lauderdale Marina Marriott, possibly as soon as today, according to published reports.
The addition of the Marina Marriott would give the Blackstone luxury hotel group a cluster of three properties within a mile of each other here.
Last year, a Blackstone affiliate paid $1 billion to buy the five hotels owned by Boca Resorts Inc., including the Hyatt Regency Pier 66 Resort & Spa and the Bahia Mar Beach Resort & Yachting Center.
The pending sale of the Marriott has prompted owner Host Marriott Corp. to cancel meetings and social events at the hotel. Some customers whose events have been canceled said they were told that Blackstone would buy the hotel, according to the reports.
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