Blackstone to boost MICE industry with $4.6 billion Cvent acquisition

Major Crown Resorts investor Blackstone is now setting its sights on reviving the meetings and events industry, as it targets an acquisition of Cvent for $4.6 billion.

The US-based company is now in talks with a Blackstone affiliate for the buy-out, with a fully-owned subsidiary of the Abu Dhabi Investment Authority to also become significant minority investor in the deal.
The deal is expected to close mid-year, according to reports, with Cvent’s board already approving the merger.
The move is just one of the aggressive investment steps Blackstone has taken in recent years, including the acquisition of Crown for $6.3 billion. The group also recently acquired the Extended Stay America chain for $6 billion.
Speaking of the acquisition, Cvent’s founder and CEO noted that “As one of the world’s largest private equity firms, Blackstone brings deep expertise in the event and hospitality industry, and with their backing, we plan to continue to invest in our business and deliver the innovative solutions that meet our customers’ needs and power the meetings and events ecosystem.”
Cvent currently has some 22,000 global customers and lists more than 302,000 hotels and venues on its suppliers network.

Mergers & Acquisitions Blackstone Investments Latest news Cvent

Accelerating currency drop of renminbi pressures Macau tourism market
_2025-01-07UN report reveals growing presence of organized crime in pacific islands casino projects
_2025-01-06Macau GGR to grow 8% in 2025, backed by increasing travel spending: Goldman Sachs
_2025-01-03The overnight disappearance of 8XBet: a brand shrouded in controversy
_2025-01-02Macau’s gaming industry on track for strong 2025 kickoff: Citigroup
_2025-01-02China's president urges Macau to continue diversification drive away from gaming
_2024-12-20

Open in new window
View settings