Blackstone to sell 15 U.S. hotels

Blackstone Group LP is in the early stages of marketing a group of select-service hotels, according to people with knowledge of the matter. A sale of about 15 U.S. properties would be part of the ordinary course of managing a large portfolio, said one of the people, who asked not to be identified because the process is confidential. While it’s unclear how much the properties may fetch, American Hotel Income Properties REIT LP paid $407.4 million for 18 premium-branded select-service hotels last June. Read the Bloomberg story here