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0.000221523193478282 0.00212662265739218 0.00403172212130609 0.00739887466217707 0.00837357671348184 0.00700013291391602 0.00598112622391562 0.0112090735900049
Stock impact report

Blackstone acquires Napa Valley resort amid region's AI boom [Yahoo! Finance]

Blackstone Inc. (BX) 
Last blackstone inc. earnings: 4/23 06:56 am Check Earnings Report
Company Research Source: Yahoo! Finance
Dive Brief: Blackstone bought Stanly Ranch in Napa Valley, California , at a foreclosure auction on March 27, after its previous owners defaulted on a $220 million loan, Bloomberg first reported. The New York City-based investment firm purchased the 135-room Auberge Collection resort, located one hour away from San Francisco, Blackstone confirmed in an email to Hotel Dive. According to the company, the hotel will continue to be managed by Auberge . The property sold in foreclosure for $195 million , the Napa Valley Register reported. The acquisition signals Blackstone's growing optimism for the Bay Area. Scott Trebilco, senior managing director at Blackstone Real Estate, said in a statement that the resort is “well positioned to benefit from rising group and leisure demand for wellness and experiential travel, alongside the continued growth in corporate travel to the region as AI adoption accelerates.” Dive Insight: Blackstone's Bay Area buy follows its purchase of Four Sea Show less Read more
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