Blackstone and Starwood Capital $6 billion acquisition of Extended Stay America

Overview:

• Private investment funds managed by Blackstone Real Estate Partners and Starwood Capital Group announced it will acquire hospitality company Extended Stay America, valued at $6 billion.
• Blackstone and Starwood Capital have set up a 50/50 joint venture for the all cash acquisition, where it will pay $19.50 per paired share. The transaction is expected to close in Q2 2021.
• Goldman Sachs is the financial advisor to Extended Stay America. JP Morgan and Citigroup Global Markets are the financial advisors to Blackstone and Starwood Capital.

Chynna Lewis – Researcher