UNITE HERE Local 11: Proposed $3.5 Billion Deal by Landlord and Hotel Owner Blackstone Group Could Worsen Housing Crisis
As Blackstone seeks to grow as a landlord, workers at its hotel properties struggle to afford rent.
- As Blackstone seeks to grow as a landlord, workers at its hotel properties struggle to afford rent.
- While 29 hotels have settled agreements that will enable workers to survive in Southern California, Blackstone’s hotels have failed to do so.
- Most workers at Blackstone’s LAX hotels make $21 per hour, and would have to spend 55% of their pre-tax income to afford a one-bedroom apartment.
- Blackstone initiated a wave of evictions in 2022, and in some cases filed to evict tenants who owed just one month’s rent.