Blackstone, Starwood Team Up Again to Buy Longer-Stay Hotels

Wall Street Journal, Jan. 21, 2022–Craig Karmin (subscription)
Real-estate investors Blackstone Inc. and Starwood Capital Group are teaming up for the second time in less than a year in a big bet on the extended-stay hotel sector. The two firms have reached an agreement to jointly acquire 111 properties under the WoodSpring Suites brand for $1.5 billion, according to people familiar with the matter. Brookfield Asset Management is the seller, and the transaction could close as early as next month, these people said.