(Bloomberg) Blackstone Group Inc. and Starwood Capital Group agreed to buy Extended Stay America Inc., an operator of hotels and motels, for about $6 billion, betting the industry will recover as progress in fighting the Covid-19 pandemic accelerates.The two private-equity giants, whose past bets on hotels have helped shape the modern hospitality industry, are paying $19.50 per share for the hotel company, a roughly 15% premium over Extended Stay’s closing price on Friday, according to a statement on Monday.Extended Stay’s shares were up 13% at $19.15 as of 9:48 a.m. in New York.The deal would be largest hotel industry transaction since the Covid-19 pandemic decimated the global travel industry. It comes as vaccination campaigns are seeding a travel recovery that industry analysts argue could begin bearing fruit later this year.While leisure travel is widely expected to bounce back fastest, the wager on Extended Stay demonstrates confidence that a broader economic reviv