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Report: Blackstone rounds up European hotel disposal with Amsterdam asset sale

Blackstone Group LP offloaded the DoubleTree by Hilton hotel in central Amsterdam to Anbang Insurance Group Co. Ltd. at a price tag of approximately €350 million, according to a May 30 PropertyEU report.

The Amsterdam DoubleTree hotel was being marketed at about €340 million in May 2016, making the current sale price to Anbang slightly firmer.

The sale marked the conclusion of the private-equity giant's sale of hotel properties it owned in Amsterdam, London and Dublin. Besides the DoubleTree asset in Amsterdam, these hotels include a DoubleTree hotel in London that Blackstone sold for more than £300 million in December 2016 and another DoubleTree property in central Dublin it disposed of for €180 million in October 2016.