In early May, Blackstone bought The Cosmopolitan in Las Vegas for $1.73 billion as part of an effort to capitalize on the city's increased convention and hospitality business. "As a significant investor in the hospitality sector, Blackstone recognizes the value and potential in the Cosmopolitan and Las Vegas and looks forward to working to build on the success to date," Blackstone Senior Managing Director Tyler Henritze said. The number of visitors to the city rose 3.5% in April from year-ago levels according to the Las Vegas Convention and Visitors Authority.

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