Private equity fund Blackstone is preparing to sell Spain-based Hotel Investment Partners (HIP), valued at 6.5 billion euros ($6.77 billion), according to Spanish newspaper Cinco Dias. HIP operates 73 hotels with 22,000 rooms across Spain, Portugal, Italy, and Greece. Blackstone is looking to divest this year by either selling its 65% stake in HIP or pursuing an initial public offering. The firm acquired HIP from Banco Sabadell in 2017. Blackstone and HIP have not yet commented on the report.