• Blackstone buying
Blackstone is to buy a USD800m portfolio of select-service hotels from Clarion Partners. The deal will cover 47 extended stay properties across the US under Residence Inn and Homewood Suites brands, reports Bloomberg. 

The investor bought 16 Hampton Inn and Holiday Inn Express properties last autumn, and earlier last year made a USD1.3bn acquisition of Apple REIT. Others active in the sector include NorthStar Realty Finance, which recently bought USD933.9m of hotel properties. 
Read the full story here:
http://www.bloomberg.com/news/2014-06-19/hotels-with-few-amenities-lure-investors-seeking-higher-returns.html
 
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