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Abernathy MacGregor Group represents Starwood Capital Group as it joins Blackstone Real Estate Partners to acquire Extended Stay America for $6B in cash.
Charlotte-based ESA is the leading player in the mid-priced category, with 650 hotels that operated at 74 percent capacity in 2020.
ESA “demonstrated resilience over the past year despite persistent challenges due to government lockdowns and travel restrictions,” Barry Sternlicht, Starwood CEO, said in a statement.
Starwood has more than $75B in assets under management. Travel and leisure is a key investment category for Blackstone, which helped launch ESA almost 20 years ago.
Abernathy MacGregor CEO Tom Johnson and managing director Dan Scorpio handle Starwood Capital.
Their firm is part of France-based Havas Group’s AMO network.
Publicis Groupe reported 4.5 percent Q1 organic growth in net revenues to $4.1B despite the volatile macro environment.
PondelWilkinson, the Los Angeles-based IR and strategic communications shop, has expanded to the East Coast by adding Anreder & Company veterans following the retirement of principal Steven Anreder.
Teneo represents American Ocean Minerals Corp as its merges with NASDAQ-listed Odyssey Marine Exploration to create a $1B deep-sea critical minerals research and mining platform that is under US-control.
Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
FTI Consulting handles media for McCormick as the 137-year-old flavors company combines with Unilever Foods in a deal valued at $45B.
