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Blackstone, Starwood Capital Team Up in $6 Billion Purchase of Extended Stay

Written by Lauren | Mar 16, 2021 6:30:04 PM

Blackstone Group Inc. and Starwood Capital Group have agreed to acquire hotel owner and operator Extended Stay America Inc. for $6 billion, a bet that a rare bright spot for the lodging industry during Covid-19 can shine brighter as the U.S. emerges from the pandemic.