Blackstone to buy Strategic Hotels in $6 billion deal
The smallish M&A deal was just announced. Strategic Hotels & Resorts is a US REIT that owns 17 luxury hotels in the US and one in Germany.
The leisure industry is particularly sensitive to the economic cycle so it could be seen as a minor endorsement for the broader economy. Or at least that the people who stay at the Ritz-Carlton or Four Seasons are doing alright.
Ryan hinted at M&A as a driver of better sentiment earlier.
