Lightstone Group closes acquisition of Extended Stay Hotels from Blackstone Group for $8 billion
Read the article here: Lightstone Closes $8B Extended Stay Deal"The Lightstone Group...has closed on its acquisition of Extended Stay Hotels from affiliates of the Blackstone Group for $8 billion...For that $8 billion, the Lightstone affiliate is getting the largest owner of mid-price extended-stay hotels in the US, with 687 hotels and approximately 76,000 rooms in 44 states and Canada. The company currently operates under five brands in the extended-stay segment: Extended Stay Deluxe, Extended Stay America, Homestead Studio Suites, StudioPlus and Crossland."
tags: blackstone, hotels, hospitality, resorts, extended-stay, acquisition, purchase, 8-billion, USA, new-jersey, new-york
Posted 06/13/07 by JJ | Filed under: Development
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