Jason Reed/Reuters
Rainmakers are betting on tourists to bring in some serious profits.
The Carlyle Group, the private-equity giant with $178 billion in assets, recently invested in Inca Rail
, which provides a scenic ride to Machu Picchu in Peru.
Apollo Global Management announced its $2.2 billion purchase of Diamond Resorts
, a timeshare operator based in Las Vegas, and KKR is set to open a new hotel in Waikiki Beach
with partners CoastWood Capital Group and Chartres Lodging Group this winter.
So far this year, the value of global private-equity deals in the dining and lodging sectors reached $4.6 billion, according to Dealogic data, surpassing the $4.4 billion invested in all of 2015.
“Global travel continues to be an attractive investment area,” Sandra Horbach, cohead of Carlyle Group’s US buyout team, told Business Insider. “Consumers are increasingly shifting their spending from things to experiences. Travel will also benefit from rising discretionary incomes in many emerging markets.”
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