BETHESDA, Md. --
MeriStar Hospitality Corp. has agreed to be acquired by the
Blackstone Group, a deal said to be valued at $2.6 billion.
The board of
directors of MeriStar, a hotel real estate investment trust, has
already approved the merger, which will be placed before the
companys stockholders at a meeting soon.
MeriStar reported that it is going forward with the sale of nine
hotels and one golf and tennis club to affiliates of the Blackstone
Hospitality Corp. owns 57 upper-upscale, full-service hotels -under
Hilton, Sheraton, Marriott, Ritz-Carlton, Westin, Doubletree and
Radisson brands -- in major markets and resort locations with
16,507 rooms in 19 states and Washington, including the 10
properties that are under contract to be sold to
MeriStar is the
latest acquisition by the Blackstone Group, which purchased the La
Quinta Corp., operator of La Quinta, Baymont, Woodfield Suites and
Budgetel hotels, for $34 billion last November.
investment firms holdings also include Boca Resorts and Extended
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