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Extended Stay America Shareholders Approve Blackstone and Starwood's $6 Billion Takeover

Cameron Sperance

Photo Credit: The Blackstone and Starwood Capital takeover is Blackstone's third time owning Extended Stay America. Flickr / Mike Mozart

Skift Take

Blackstone and Starwood Capital's approved takeover of Extended Stay America is a major win for investors who have been salivating over any kinda of mega-hotel deal coming out of the pandemic. But the turbulent road to the finish line shows shareholders are still not going to accept lowball offers.

The biggest hotel deal of the pandemic to date received shareholder approval Friday. The preliminary tally of a vote showed a majority of Extended Stay America shareholders Friday approved a more than $6 billion takeover from investment groups Blackstone and Starwood Capital. The takeover is slated to officially close next Wednesday, June 16. The acquisition parks the largest U.S. extended-stay hotel chain in the hands of private owners who were signaling interest in the company mere weeks into the pandemic last year. Representatives from Extended Stay America, Blackstone, and Starwood Capital weren't immediately available for comment. A final certification of the vo

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