InTown Suites acquired by Starwood founder's company for $735 million
Skift Take
Extended stay hotel sector is holding up well as the economy recovers, and more such deals should be expected.
Starwood Capital, the real estate investment firm led by former Starwood Hotels CEO and founder Barry Sternlicht, is buying InTown Suites extended-stay hotel chain from a Kimco Realty Corp. (KIM) venture for $735 million, including debt.
The InTown portfolio is composed of 138 extended-stay properties predominantly in the southern U.S., with concentrations in Texas, Georgia and Florida. More in release.
Up Next
Hotels
How Data Quality Issues Impact Global Hospitality Operations
There are wide discrepancies in data quality for hotel transactions across global regions, with the largest occurring in Asia-Pacific. Because hotels and agencies need to harness data quality to thrive, they must take a more nuanced regional approach to monitoring potential issues.
Sponsored 
Tourism
Bollywood: The Strongest Currency in Indian Tourism
With India’s box office expected to hit $2.8 billion by 2028, Bollywood is a blockbuster travel agent in disguise. It turns reel magic into real tourism — making destinations into superstars.
Travel Technology
17 Travel Tech Acquisitions So Far This Year – See the List
Small deals are leading M&A activity in travel tech. But one area where larger deals are emerging is in travel payments.
Airlines
Alaska Airlines Flight Attendants Ratify 3-Year Contract
The ratification now sets the stage for more negotiations with Alaska and Hawaiian Airlines flight attendants.
Short-Term Rentals
Vrbo Tries to Fix a Hole in OneKey Where Travelers Earn But Can't Burn Rewards
Depending on the fine print, Vrbo giving vacation rental property managers more flexibility in how they run their businesses can't be a bad thing.