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NEWS
Blackstone buys Chicago's Willis Tower for US$1.3bn – will invest US$150m in leisure elements
POSTED 23 Mar 2015 . BY Katie Buckley
Blackstone will upgrade the Willis Tower's leisure offering with US$150m investment Credit: Flickr.com/Monika Thorpe
Blackstone has announced it will buy Chicago’s Willis Tower, the second-tallest building in the US for US$1.3bn (€1.19bn, £800m).

Previously known as Sears Tower, the Willis Tower is an iconic structure – designed by Skidmore, Owings, & Merrill – it dominates the Chicago skyline. Vendors, 223 South Wacker, said Blackstone will be an "excellent steward of this world famous building".

Blackstone has plans to improve the leisure offerings in the iconic skyscraper. It's been widely reported that the company will spend at least US$150m (€137m, £100m) "sprucing up" the existing Skydeck observatory on the 103rd floor which currently attracts 1.6 million visitors a year.

Jason Werner, managing director in Blackstone’s real estate group, said: "There's great potential to further improve both the building’s tourist experience and retail operations in what is one of the most popular destinations for visitors to Chicago.”

Recently, CVC Capital Partners was reportedly preparing to bid for the Blackstone-owned Center Parcs, which is thought to be worth around US$3.8bn (£2.5bn, €3.5bn). Prior to that CVC and Blackstone launched the sale of their remaining shares in Merlin Entertainments, which is thought to be worth around US$1bn (£667.6m, €917.6bn).
RELATED STORIES
  CVC prepares bid for Blackstone's £2.5bn Center Parcs


CVC Capital Partners – one of Europe’s biggest private equity firms – is preparing to bid for the Blackstone-owned Center Parcs, thought to be worth around £2.5bn (US$3.8bn, €3.5bn).
  Virgin Hotels Chicago teams up with city's bloggers for alternative tourist guide


Virgin Hotels Chicago, which opened in January of this year, has collaborated with a number of the Windy City’s influential bloggers to create a new kind of hotel city guide for guests.
  CVC and Blackstone launch US$1bn sale of Merlin shares


Private equity firms CVC and Blackstone have launched the sale of their remaining shares in Merlin Entertainments.
  Center Parcs owner 'engages banks' on £2.5bn listing


US-based private equity group Blackstone has hired several investment banks to lay the foundations for a £2.5bn (US$3.8bn, €3.4bn) London listing of UK leisure resort chain Center Parcs, according to reports.
MORE NEWS
Foster and Partners reveal design for sustainable marine life centre on the Red Sea
Live-streaming 'digital tour' enters the attractions sector
Live-streaming platform Heygo has ventured into the cultural visitor attractions sector by partnering with a number of museums in the UK and US.
Brad Pitt makes debut as sculptor at Finnish art museum
Hollywood superstar, Brad Pitt, has made his debut as a sculptor as part of British artist Thomas Houseago’s first ever exhibition in the Nordic countries.
World's longest and 'technologically advanced' zipline planned for Iceland
A 1km-long zipline offering riders speeds of 120km/h is set to open in Iceland later this year.
+ More news   
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COMPANY PROFILES
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Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
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We create guest experiences others don’t, masterplan like no one else can, and give the world’s bi [more...]
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FEATURED SUPPLIER

Attractions industry to reunite this September at IAAPA Expo Europe in London
For the first time in more than a decade, industry leaders from across the global attractions industry will once again gather in London as part of the annual IAAPA Expo Europe, the sector’s premier international event. [more...]
VIDEO GALLERY

Red Raion Showreel 2021
Another year has passed, and we’re definitely happy with what we have accomplished in 2021! Find out more...
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Red Raion TV - Testimonial: Leolandia – Red Raion
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DIRECTORY
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DIARY

 

13 Oct 2022

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The ICC Birmingham, Birmingham, United Kingdom
25-28 Oct 2022

Synergy - The Retreat Show

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Jobs    News   Products   Magazine
NEWS
Blackstone buys Chicago's Willis Tower for US$1.3bn – will invest US$150m in leisure elements
POSTED 23 Mar 2015 . BY Katie Buckley
Blackstone will upgrade the Willis Tower's leisure offering with US$150m investment Credit: Flickr.com/Monika Thorpe
Blackstone has announced it will buy Chicago’s Willis Tower, the second-tallest building in the US for US$1.3bn (€1.19bn, £800m).

Previously known as Sears Tower, the Willis Tower is an iconic structure – designed by Skidmore, Owings, & Merrill – it dominates the Chicago skyline. Vendors, 223 South Wacker, said Blackstone will be an "excellent steward of this world famous building".

Blackstone has plans to improve the leisure offerings in the iconic skyscraper. It's been widely reported that the company will spend at least US$150m (€137m, £100m) "sprucing up" the existing Skydeck observatory on the 103rd floor which currently attracts 1.6 million visitors a year.

Jason Werner, managing director in Blackstone’s real estate group, said: "There's great potential to further improve both the building’s tourist experience and retail operations in what is one of the most popular destinations for visitors to Chicago.”

Recently, CVC Capital Partners was reportedly preparing to bid for the Blackstone-owned Center Parcs, which is thought to be worth around US$3.8bn (£2.5bn, €3.5bn). Prior to that CVC and Blackstone launched the sale of their remaining shares in Merlin Entertainments, which is thought to be worth around US$1bn (£667.6m, €917.6bn).
RELATED STORIES
CVC prepares bid for Blackstone's £2.5bn Center Parcs


CVC Capital Partners – one of Europe’s biggest private equity firms – is preparing to bid for the Blackstone-owned Center Parcs, thought to be worth around £2.5bn (US$3.8bn, €3.5bn).
Virgin Hotels Chicago teams up with city's bloggers for alternative tourist guide


Virgin Hotels Chicago, which opened in January of this year, has collaborated with a number of the Windy City’s influential bloggers to create a new kind of hotel city guide for guests.
CVC and Blackstone launch US$1bn sale of Merlin shares


Private equity firms CVC and Blackstone have launched the sale of their remaining shares in Merlin Entertainments.
Center Parcs owner 'engages banks' on £2.5bn listing


US-based private equity group Blackstone has hired several investment banks to lay the foundations for a £2.5bn (US$3.8bn, €3.4bn) London listing of UK leisure resort chain Center Parcs, according to reports.
MORE NEWS
Foster and Partners reveal design for sustainable marine life centre on the Red Sea
Live-streaming 'digital tour' enters the attractions sector
Live-streaming platform Heygo has ventured into the cultural visitor attractions sector by partnering with a number of museums in the UK and US.
Brad Pitt makes debut as sculptor at Finnish art museum
Hollywood superstar, Brad Pitt, has made his debut as a sculptor as part of British artist Thomas Houseago’s first ever exhibition in the Nordic countries.
World's longest and 'technologically advanced' zipline planned for Iceland
A 1km-long zipline offering riders speeds of 120km/h is set to open in Iceland later this year.
Triotech secures deal to supply rides for Puy Du Fou Asia's first Chinese attraction
Triotech has secured a deal to supply its interactive ride technology for the SAGA Experience, an immersive attraction being developed in the heart of Shanghai, China, by Puy du Fou Asia.
Tangled attraction among new additions revealed for Disneyland Paris Resort
A Tangled-themed family ride is among a range of new attractions revealed for the Walt Disney Studios Park at Disneyland Paris Resort, France.
+ More news   
 
COMPANY PROFILES
Red Raion

Founded in 2014, Red Raion is the CGI studio specialized in media based attractions. [more...]
Antonio Zamperla Spa

Founded in 1966, the Antonio Zamperla SPA is privately owned by Mr Alberto Zamperla. Located in Vi [more...]
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
FORREC Ltd

We create guest experiences others don’t, masterplan like no one else can, and give the world’s bi [more...]
+ More profiles  
FEATURED SUPPLIER

Attractions industry to reunite this September at IAAPA Expo Europe in London
For the first time in more than a decade, industry leaders from across the global attractions industry will once again gather in London as part of the annual IAAPA Expo Europe, the sector’s premier international event. [more...]
VIDEO GALLERY

Red Raion Showreel 2021
Another year has passed, and we’re definitely happy with what we have accomplished in 2021! Find out more...
More videos:
Red Raion TV - Testimonial: Leolandia – Red Raion
Keynote | Moby Dick - Friends to the rescue! – Red Raion
IAAPA Expo Europe Promo – International Association of Amusement Parks and Attractions (IAAPA)
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

13 Oct 2022

VAC 2022

The ICC Birmingham, Birmingham, United Kingdom
25-28 Oct 2022

Synergy - The Retreat Show

Ibiza, Ibiza, Spain
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2022

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS