Page 17 - கருப்பு கல் ரியல் எஸ்டேட் கூட்டாளர்கள் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Share Blackstone Real Estate Partners and Starwood Capital Group have signed a definitive agreement to acquire Extended Stay America hotel company, the companies announced Monday. Pending shareholder approval, the all-cash $6 billion transaction will take place via a 50/50 joint venture of funds managed by the two partners. According to Extended Stay America, the brand operates 630 fully owned and operated hotels across the United States, comprising 69,000 guest rooms. ESA is a midscale extended-stay brand.  The companies expect the deal to close in the second quarter, following customary closing conditions. The resilience of the extended-stay category in the high-pressure environment of the pandemic was a motivating factor for the acquisition, said Starwood Capital Group CEO Barry Sternlicht. 

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