Market Pulse Archives

Jan. 21, 2022, 8:27 a.m. EST

Blackstone, Starwood team up on second extended stay hotel deal: WSJ

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Blackstone Inc. (BX)
  • X
    Brookfield Asset Management Inc. Cl A (BAM)

or Cancel Already have a watchlist? Log In

By Steve Gelsi

Blackstone Inc. /zigman2/quotes/203156858/composite BX +2.49% and Starwood Capital Group have agreed to pay $1.5 billion to jointly acquire 111 properties under the WoodSpring Suites brand from Brookfield Asset Management Inc. /zigman2/quotes/202495225/composite BAM +2.47% , The Wall Street Journal reported Friday. The WoodSpring Suites brand, owned by Choice Hotels International Inc., specializes in guests staying weeks or months. The firms are targeting Americans traveling for business or drive-to vacations, the newspaper reported, citing people familiar with deal. The WoodSpring Suites deal comes after Blackstone and Starwood jointly bought Extended Stay America Inc. for $6 billion in 2021. Shares of Blackstone Group are down 13.8% this year, compared to a drop of 6% by the S&P 500.

/zigman2/quotes/203156858/composite
US : U.S.: NYSE
$ 107.31
+2.61 +2.49%
Volume: 1.68M
May 17, 2022 2:06p
P/E Ratio
14.68
Dividend Yield
4.24%
Market Cap
$125.16 billion
Rev. per Employee
$3.73M
loading...
/zigman2/quotes/202495225/composite
US : U.S.: NYSE
$ 48.96
+1.18 +2.47%
Volume: 1.41M
May 17, 2022 2:07p
P/E Ratio
20.42
Dividend Yield
1.14%
Market Cap
$74.51 billion
Rev. per Employee
$437,944
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.