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US: Blackstone and Starwood Capital Group are partnering to acquire 111 WoodSpring Suites-branded hotels from Brookfield Asset Management.
Brookfield acquired the portfolio in 2018, paying roughly $750 million for the real estate.
The $1.5 billion purchase follows the partners’ $6 billion acquisition of Extended Stay America last year.
The 111-strong group of hotels represents more than a third of the entire WoodSpring Suites portfolio – the Choice Hotels-owned brand opened its 300th property in September last year.
