Victoria’s Secret gets dumped [Reuters]
EXTENDED STAY AMERICA (STAY)
Last extended stay america earnings: 2/26 04:30 pm
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Source: Reuters
Breakingviews - Corona Capital: Extended Stay, Victoria’s Secret LONDON/HONG KONG/NEW YORK/DALLAS (Reuters Breakingviews) - Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights. - Blackstone’s favorite hotel - Ditching Victoria’s Secret HAPPY PLACES. Blackstone is checking back into one of its old favorites. Along with Starwood Capital, the private-equity firm has taken a stake in Extended Stay America, the Wall Street Journal reported on Tuesday. The firm run by Stephen Schwarzman has patronized the hotel chain a couple of times before: It took the company private in 2004, unloading it three years later to another leveraged-buyout shop. Then it scooped Extended Stay out of bankruptcy in 2010, tripling its money via a public offering in 2013, according to Bloomberg. The hotels group is hardly alone in needing cash to tide it over until Covid-19 recedes – not least with the prospect of a V-s
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