Blackstone Reportedly Prepares IPO of Spanish Hotel Group HIP

Blackstone (BX) is reportedly preparing to take its Spanish hotel group Hotel Investment Partners, known as HIP, to the stock market, according to Spanish media reports. Hosteltur, citing Cinco Días, reported on September 2, 2026 that the firm is finalising documentation for the listing.

The reported timetable would see HIP shares begin trading between late October and early November 2026. The plan is said to include a capital increase of around 700 million euros, while HIP's hotel portfolio is estimated at roughly 6,000 million euros ahead of the listing.

HIP holds 61 hotels with about 20,000 rooms. Blackstone currently owns a 65% stake in the group, with Singaporean sovereign wealth fund GIC holding the remaining 35%.

Blackstone originally acquired HIP from Banco Sabadell in 2017 in a deal valued at 631 million euros. GIC took its stake in 2023 at a valuation of 4.7 billion euros. Earlier reports from June 2026 had pointed to a capital increase of between 500 million and 750 million euros and a valuation estimate of about 6.5 billion euros.

The reported details remain unconfirmed. No official intention-to-float notice or CNMV prospectus has been published, and no listing venue, ticker, price range or number of shares to be offered has been disclosed. Neither Blackstone nor GIC has issued a statement confirming the terms, size or timeline; all reporting so far is sourced to Spanish media outlets.