Market Chatter: Blackstone Buys Ritz Carlton Resort in Okinawa, Japan

MT Newswires Live12-19

Blackstone (BX) has purchased the 97-room Ritz Carlton resort in Okinawa, Japan, for approximately 20 billion Japanese yen ($130 million) from Kanehide Holdings and plans to purchase another hotel on the island, Bloomberg reported Wednesday, citing sources with knowledge of the matter.

The deal includes the Kanehide Kise Beach Palace and renovation expenses, the report said.

A Kanehide spokesperson confirmed the sale of the Ritz-Carlton building, Bloomberg reported citing a company email.

Blackstone and Kanehide did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 175.75, Change: -7.36, Percent Change: -4.02

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