03:17 PM EST, 01/22/2025 (MT Newswires) -- Blackstone (BX) is planning to sell its Spain-based Hotel Investment Partners, which is valued at around 6.5 billion euros ($6.77 billion), Spanish newspaper Cinco Dias reported Wednesday.

HIP manages 73 hotels with a total of over 22,000 rooms across Spain, Portugal, Italy, and Greece, according to the company's website.

Blackstone plans to divest the hotel investment platform this year, either through a direct sale of its 65% stake or via an initial public offering, the report said.

Blackstone and HIP did not immediately respond to a request for comment from MT Newswires.

BX shares were up nearly 1% in recent trading.

(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.)

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