PRINT THIS PAGE Blackstone Group buys US hotel group Prime Hospitality Corp. in $790m deal19/08/2004. Source: AltAssets. 
 US private equity giant the Blackstone Group has bought hotel group Prime Hospitality Corp. in a deal worth $790m. The firm will pay $12.25 per share, a 42 per cent premium to the closing price on Aug 18.
Jonathan D. Gray, senior managing director of Blackstone, said: 'We are excited to be acquiring Prime Hospitality. Prime has an outstanding collection of properties, brands and people.'
Blackstone invested out of its $2bn real estate fund.
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