Extended Stay Hotels Bought for $3.93bn

1st June 2010 (Last Updated June 1st, 2010 18:30)

A consortium led by Centerbridge Partners has acquired the bankrupt hotel chain Extended Stay Hotels for $3.93bn. The consortium includes Paulson and private equity firm Blackstone. A bankruptcy court judge is required to approve the sale before it is finalised.

A consortium led by Centerbridge Partners has acquired the bankrupt hotel chain Extended Stay Hotels for $3.93bn.

The consortium includes Paulson and private equity firm Blackstone.

A bankruptcy court judge is required to approve the sale before it is finalised.

Starwood Capital and TPG also participated in the bidding, according to The Financial Times.