Investors led by Starwood Capital Group made a “better” bid for Extended Stay than an earlier offer from Centerbridge Partners and Paulson & Co., a lawyer for the bankrupt hotel chain said. Extended Stay, which is seeking to sell its assets in an effort to emerge from bankruptcy protection, received the Starwood bid yesterday, the deadline for submitting competing offers for the hotel operator. “In our view, it’s a bit better than the Centerbridge bid, and we’re hoping there will be vigorous bidding at the auction,” said Jacqueline Marcus, a lawyer for Extended Stay.
