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Lightstone is buying Extended Stay Hotels from Blackstone for $8 Billion

The Lightstone Group, LLC, one of the largest private real estate owners in the USA, is negotiating with the Blackstone Group to acquire Extended Stay Hotels for $8 billion. Extended Stay Hotels is the largest owner of mid-price extended-stay properties in the United States, with 683 properties and approximately 76,000 units located in 44 states and Canada. The company currently operates under .ve brands in the extended-stay segment: Extended Stay Deluxe, Extended Stay America, Homestead Studio Suites, StudioPlus and Crossland. “This transaction is consistent with our strategy of acquiring companies with outstanding brand identity and bringing the necessary resources to unlock long term value,” explains David Lichtenstein, chairman and CEO of the Lightstone Group.

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