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Our Partnerships with America’s Unions

Union workers help power our economy. Blackstone’s portfolio companies have a history of employing union members and serving pensions providing union members with a secure retirement.

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THE COSMOPOLITAN HOTEL + UNITE HERE

We viewed partnership with labor as critical to our growth plans and our successful sale of The Cosmopolitan hotel in 2022. We recently awarded roughly 5,000 hotel employees a $5,000 bonus as a sign of our appreciation. Upon Blackstone acquiring The Cosmopolitan in 2014, The Cosmopolitan negotiated with the Culinary Workers Union Local 226 and Bartenders Union Local 165 of UNITE HERE to secure approximately 2,000 stable jobs, which contracts remain in place after our sale of the property.

“I’m so incredibly proud to have been part of this. Having job security, a guaranteed work week and a pension makes me feel so proud to be a member of the union.”

Mixologist

The Cosmopolitan

“This [2015] contract means that my family and I can have a quality middle-class life here in Las Vegas. I have the opportunity to provide for my family – and that’s an amazing feeling.”

Banquet Server

The Cosmopolitan

Hilton Hotels
Hilton Hotels

Blackstone prioritized working with UNITE HERE from its initial investment in the Hilton Hotels Corporation in 2007 to its exit in 2018. In 2013, Hilton led the hospitality industry as one of the first brands to enter into successor labor agreements with UNITE HERE in six major North American cities. Agreements were reached – which covered nearly 10,000 employees – well in advance of contract expiration and without any labor disruptions. UNITE HERE featured Blackstone on its List of Responsible Private Equity Managers in the Hospitality Industry.

Hilton Hotel entrance

“Blackstone has demonstrated its commitment to fair treatment for thousands of hotel workers in several major markets.”

Bruce Raynor

Former General President, UNITE HERE

Supporting Job Creation and Economic Opportunity
Offshore Wind

Atlantic Power Transmission

Blackstone portfolio company Atlantic Power Transmission (APT) made a $50 million commitment to workforce development in New Jersey. APT actively partnered with the New Jersey Union Coalition to help ensure that New Jersey’s workers will be well-prepared to lead the next phase of development of the offshore wind industry.

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Bridge over Hudson River

Transmission Developers Inc. (TDI)

Blackstone sought the input of labor unions and environmental groups as part of the Champlain Hudson Power Express (CHPE) – a 339-mile, underground renewable energy transmission project led by portfolio company TDI. The project will deliver 1,250 MW of renewable hydropower to New York City and is expected to create approximately 1,400 family sustaining jobs – generating lasting value for the city, local workers and our investors.

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Crown Resorts Building

Crown Resorts

Shortly after Blackstone acquired Crown Casino in Australia, Crown negotiated a 5 percent pay rise for casino workers. Crown reached the one-year deal with the United Workers Union for Crown’s 8,400 workers at its Melbourne and Perth casinos ahead of negotiations for a more long-term agreement later in 2023.

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“Our union membership and the community deeply appreciate the fact that Blackstone and PBF Energy stepped forward and were willing to put hundreds of millions of dollars at risk…”

United Steel Workers

“Blackstone’s public support for efforts by janitors in Boston and security officers in Los Angeles to win a better life for themselves and their families helped usher in jobs with higher wages, access to health care and other benefits.”

Service Employees International Union (SEIU)

“Blackstone’s initiatives will help create more jobs in the construction industry, give us the ability to recruit new members into our union and provide them with career training and life-sustaining jobs with good pay and benefits.”

The Eastern Atlantic States Regional Council of Carpenters