Billionaire Ortega’s Occidental Hotels Said to Get Offers | bloomberg.com
Occidental Hotels & Resorts, the hotelier owned by billionaire Amancio Ortega and Spain’s second-largest bank, has attracted interest from companies including AMResorts and Playa Hotels & Resorts, two people with knowledge of the matter said. The two U.S.-based hotel and leisure operators were among several first-round bidders, said the people, who asked not to be named because the process is private. Occidental, whose main shareholders are Ortega, owner of the Zara clothing-chain operator Inditex SA (ITX), and Banco Bilbao Vizcaya Argentaria SA (BBVA), may fetch as much as $700 million, they said.
