Business & Finance
Blackstone, Starwood Capital to buy Extended Stay for $6bn
- As bookings plunged across the US hotel industry over the last year due to the COVID-19 pandemic, Extended Stay, which specializes in temporary housing for healthcare professionals.
- The deal was first reported by the Wall Street Journal.
1 min
By
Blackstone Group Inc said on Monday the private equity company and Starwood Capital Group have agreed to buy hotel-operator Extended Stay America for $6 billion.
As bookings plunged across the US hotel industry over the last year due to the COVID-19 pandemic, Extended Stay, which specializes in temporary housing for healthcare professionals.
The deal was first reported by the Wall Street Journal.