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InTown Suites acquired by Starwood founder’s company for $735 million

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    Extended stay hotel sector is holding up well as the economy recovers, and more such deals should be expected.
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    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.

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