If you are a fan of luxurious resorts and have been following the news lately, you may have heard about the recent acquisition of the Boca Resort in Florida. The resort has been a hot topic in the hospitality industry, and people are eager to know who bought it. In this article, we will dive deep into this topic and provide you with all the details you need to know.
What is Boca Resort?
The Boca Resort is a well-known luxury resort located in Boca Raton, Florida. It was originally built-in 1926 by architect Addison Mizner and has since undergone several renovations to become one of the most sought-after destinations for tourists. The resort boasts 1,047 rooms, two 18-hole golf courses, a private beach club, seven swimming pools, and thirteen restaurants.
The Acquisition
In late 2020, news broke that the Boca Resort had been acquired by Blackstone Group for $875 million. Blackstone Group is one of the world’s largest investment firms with over $584 billion in assets under management. The acquisition was made through Blackstone Real Estate Partners VIII L.P., which is Blackstone’s global real estate fund.
The acquisition was not surprising as Blackstone has been actively investing in luxury resorts globally. In 2019 alone, they acquired five other high-end resorts across different parts of the world.
What does this mean for Boca Resort?
The acquisition by Blackstone is expected to bring significant changes to the Boca Resort. Although no major changes have been announced yet, experts predict that Blackstone will likely invest heavily in renovating and upgrading various facilities at the resort to enhance guest experience further.
Additionally, Blackstone’s vast network and expertise in hospitality management could open new doors for collaborations with other luxury brands giving guests an even better experience during their stay at Boca Resort.
Conclusion
In conclusion, The Boca Resort has been acquired by Blackstone Group for $875 million. The acquisition is expected to bring significant changes to the resort, and we are excited to see what the future holds for this iconic destination. If you’re planning your next luxury vacation, Boca Resort might just be the perfect place for you.
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