The Blackstone Group, the largest alternative investment firm in the world, is poised to buy Great Wolf Resorts, according to reports.
The operator, currently owned by Centerbridge Partners which has a portfolio of 17 hotels, waterparks and family entertainment centres. The deal is believed to be at least US$2.9bn.
The deal is to include any debt and would likely be led by Blackstone’s real estate investment arm, although at the time of writing, the deal had yet to be finalised and wasn’t guaranteed.
Both parties have declined to offer comment.
Centerbridge bought Great Wolf in 2015 from Apollo Global Management and has expanded the chain by six further resorts since then, with a further two under development.
