On Sunday, Blackstone (NYSE:BX) announced that one of its private equity funds has purchased controlling interests in two seaplane operators servicing the Maldives: Maldivian Air Taxi and Trans Maldivian Airways.
Together, the two air taxi services operate 44 seaplanes running more than 100,000 flights per year among the 1,000 islands that make up the vacation nation.
Blackstone has a long-standing interest in such travel and leisure investments. In a press release describing the acquisitions, the company noted: "Blackstone manages, through its portfolio companies, the largest number of hotel rooms in the world and this transaction marks our sustained enthusiasm for the travel and tourism space."
Financial terms were not disclosed.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
3 Stocks to Buy With Dividends Yielding More Than 6%
High-yielding stocks can be rewarding, but you have to be careful about risk.
Investing in Venture Capital: A Step-by-Step Guide
Find out how you can get involved with the same deals that big-name investors do.
2 Finance Stocks to Buy with Dividends Yielding More than 4%
Do you like dividends? If so, you should love Blackstone Group and STORE Capital.