Hotel values are down 50% since 2007, but investments by Blackstone (BX) and Richard Branson may...

|About: The Blackstone Group L.P. (BX)|By:, SA News Editor

Hotel values are down 50% since 2007, but investments by Blackstone (BX) and Richard Branson may presage a flood of deals in the lodging industry. “I have never ... seen so much equity on the sidelines ready to pounce,” says an industry source. Half off is nice, but the early 90's recession brought even cheaper prices, such as the 1993 sale of the Hyatt Waikoloa for 12 cents on the dollar.