Blackstone Snaps Up Second Select Service Portfolio From Hotel Developer
In the latest deal illustrating the demand of private-equity capital for U.S. hotel portfolios, an affiliate of The Blackstone Group has acquired 19 select service hotels from Spartanburg, NC-based OTO Development. The portfolio totals 2,385 rooms spread across 18 premium select- and one full-service hotel under such flags such as Hampton Inn ' Suites, SpringHill Suites, Hyatt Place, Hyatt House and Sheraton. Most of the assets are concentrated...
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