Real estate company Blackstone has agreed to purchased the Kimpton Hotel Eventi in New York City for $175 million according to Bloomberg. Blackstone reportedly has agreed to buy the 292-bedroom IHG hotel from DLJ Real Estate Capital Partners and is the latest in a series of big hotel deals for the company, following recent acquisitions including the W Fort Lauderdale and Hyatt Regency Clearwater.
The New York City hotel market has rebounded strong and hotel books are approaching pre-pandemic levels. The city's limited new hotel supply, restricted by zoning development changes, has created the environment for rising room rates. According to CoStar, New York City reported the highest occupancy level (+3.3 percent to 84.3 percent) in 2024.
Kimpton Hotel Eventi opened in February 2010, being the fourth hotel from the brand to open in New York. Construction of the 52-story building took four years to complete and comprises both hotel bedrooms and facilities and housing.