Blackstone continues hotel-buying spree, snaps up Apple REIT Six for $1.2 billion
Skift Take
Hotel brands have been busy shedding properties in favor of operating agreements over the last few years while private equity firms have been snapping them up piece by piece. Which side will come up on top?
A Blackstone Group LP affiliate agreed to buy Apple REIT Six Inc., a real estate investment trust focused on hotels, in a $1.2 billion deal as the private- equity firm expands its hospitality holdings.
The price includes transaction costs and debt, Apple R
