Blackstone may buy MeriStar resorts-sources
yahoo.reuters.com
Tue Jan 31, 2006 12:54 PM ET
NEW YORK, Jan 31 (Reuters) - Blackstone Group is in talks to buy a group of Florida resorts from hotel real estate investment trust MeriStar Hospitality Corp. (MHX), sources familiar with the matter said on Tuesday.
Blackstone has its sights set on MeriStar's South Seas Island Resort in Captiva, Florida, and its Sanibel Island Beach Resort, the sources said.
Blackstone and MeriStar are discussing terms of the deal, one of the sources said, cautioning that a transaction could fall apart. The price tag of the deal was not immediately clear.
Blackstone, one of the world's largest private equity firms, declined to comment. MeriStar could not immediately be reached.
Blackstone has been aggressively buying hotel properties, building on its large luxury resort portfolio.
Arlington, Virginia-based MeriStar owns 64 mainly upscale, full-service hotels in 20 states and the District of Columbia. The company owns hotels under such brands as Hilton, Sheraton, Marriott, Ritz-Carlton, Westin, Doubletree and Radisson. |
