0 minute readInvestors 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.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio