Hotel

Hotels appear to be a particularly good fit for retail centers, which tend to have ample parking, prime locations and shopping, restaurants and entertainment options readily available for travelers.

Investors like Blackstone are drawn to the strong, long-term demand they see for hotel properties.

The clash between the investors is another twist in a years-long sales process for the 111-year-old building at the corner of Fifth Avenue and Central Park South.

Blackstone Group LP agreed to acquire luxury hotel owner LaSalle Hotel Properties in an all-cash transaction that values LaSalle at $33.50 a share, or $4.8 billion including debt.

The Bethesda, Maryland-based owner of 41 upscale hotels hasn’t publicly said that it’s exploring strategic alternatives.

Gaming and Leisure will pay $1.21 billion for most of Tropicana’s casinos and will lease the properties to Eldorado.

Occupancies are unlikely to rise much higher than their current high level. And property prices are already so high they are unlikely to increase much more relative to incomes.