Investment firms Blackstone Real Estate Partners and Starwood Capital Group completed the acquisition of Extended Stay America, the operator of an economy apartment hotel chain in the United States and Canada, for $6bn. "Travel and leisure is one of Blackstone’s highest conviction investment themes, and we have confidence in the extended stay model. We helped create this company nearly twenty years ago, and believe our expertise puts us in a unique position to add long-term value," Tyler Henritze, Blackstone Real Estate Head of US Acquisitions. On June 1, 2021, Blackstone and Starwood Capital increase offer to acquire Extended Stay America to $20.50 per paired share in cash.