The Westin Kierland Resort is a luxurious hotel located in Scottsdale, Arizona. This sprawling resort is a popular destination for tourists and locals alike, offering world-class amenities and services.
But who actually owns this impressive property? Let’s take a closer look.
The History of the Westin Kierland Resort
The Westin Kierland Resort first opened its doors in 2002. It was built on the site of the former Kierland Golf Club, which had been a popular destination for golfers since the 1990s. The resort was developed by Woodbine Development Corporation, a real estate development company based in Dallas, Texas.
Ownership Changes
In 2015, Woodbine sold the Westin Kierland Resort to Blackstone Real Estate Partners VIII L.P., an affiliate of Blackstone Group L., one of the world’s largest investment firms. The sale price was reported to be around $265 million. Blackstone is known for its investments in various industries including real estate, private equity, and credit.
Blackstone Group L.
Blackstone Group L. was founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. The firm manages assets worth over $600 billion across various sectors including real estate, private equity, hedge funds, and credit. Blackstone is known for making strategic investments in high-growth potential companies and assets.
Impact on Guests
Despite the change in ownership, guests at the Westin Kierland Resort can rest assured that they will continue to receive top-notch service and amenities. In fact, with Blackstone’s investment backing, there may even be additional improvements made to the resort in the coming years.
In conclusion, while Woodbine Development Corporation was the original developer of the Westin Kierland Resort, it is now owned by Blackstone Real Estate Partners VIII L. This investment firm is known for its strategic investments across various industries, including real estate. Guests at the resort can expect to receive the same level of service and amenities they’ve come to love, with the possibility of even more improvements in the future.
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