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Sign in Sign up for a FREE subscriptionBlackstone, Starwood complete $6b acquisition
Blackstone Real Estate Partners and Starwood Capital Group have completed the previously announced acquisition of Extended Stay America in a transaction valued at approximately $6 billion.
Tyler Henritze, head of U.S. acquisitions for Blackstone Real Estate, commented, “Travel and leisure is one of Blackstone’s highest conviction investment themes, and we have confidence in the extended-stay model. We helped create this company nearly 20 years ago, and believe our expertise puts us in a unique position to add long-term value.”
Barry Sternlicht, CEO of Starwood Capital, added, “Extended Stay has demonstrated resilience over the past year despite persistent challenges due to government lockdowns and travel restrictions. We are excited about the company’s growth opportunity as restrictions ease and we’re confident that, in partnership with Blackstone
