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Extended Stay America to Be Acquired for $6 Billion: Live Updates



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Here’s what you need to know: The hotel operator Extended Stay America will be acquired by two private equity firms, Blackstone and Starwood Capital.Credit…Bruce Bennett/Getty ImagesThe investment firms Blackstone and Starwood Capital announced on Monday that they planned to acquire the hotel operator Extended Stay America for $6 billion, the latest deal premised on a post-pandemic rebound in travel.The deal is a bet that the mid-tier hotel chain that provides guests with amenities like kitchens and laundry facilities will prosper as the U.S. economy recovers. The chain had a 74 percent occupancy rate last year, above …

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