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Andre Balazs Looking to Sell Some of His Hotels

November 13, 2007 at 5:15 PM | by | Comments (2)

The NY Daily News reported today that hotelier Andre Balazs is looking to unload some of his hotels such as the Hotel QT:

The celeb-friendly hotelier would keep The Mercer in SoHo and would continue to manage and operate all his hotels under the proposed deal.

"We want to take the equity out of these properties and reinvest it in additional hotels," Balazs told Crain's.

We've also been hearing that Andre wants to sell "the concept" of his Standard Hotels. Perhaps he was jealous of Schrager's partnership with Marriott?

Some more notes on Balazs and his kingdom:

· A Hamptons blog is reporting that he and Uma Thurman are back on! [Talk Around Town]
· We gave you the latest on a possible Bahamian partnership with Lenny Kravitz. [HotelChatter]
· Michael Musto calls the doorman at the Mercer Hotel "the most reliably fucked-up" because he told Musto that Mercer Kitchen was down the block not in the hotel. [Village Voice]
· Artist towels will be the official pool towels at The Raleigh during Art Basel [Luxist]

Related Stories:
· Andre Balazs Hotels: The Real and the Rumored [HotelChatter]

Hotels mentioned in this story

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Re: Andre Balazs Looking to Sell Some of His Hotel

Just heard from AB peeps.  It is just a refinancing -- probably getting money out for expansion.  Check out this quote:

"We have a lot going on in New York right now, but we also have a number of projects that I can't really go into detail because we're in the early stage--Central America and in Europe"

Standard London and Standard Costa Rica.  Those are my wild and unfounded guesses at the moment.

markj on November 13, 2007 at 9:06 PM #Permalink

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Iffanylv Yu on August 19, 2010 at 4:09 AM #Permalink

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