Blackstone Said to Seize 14 Columbia Sussex Hotels

Blackstone Group LP took ownership of 14 hotels it sold to Columbia Sussex Corp. five years ago after buying junior debt on the properties and seizing control, a person with direct knowledge of the transaction said.

Thirteen of the hotels will be managed by Interstate Hotels & Resorts Inc., according to a statement by Arlington, Virginia- based Interstate. They include properties under the Westin, Sheraton and Hilton brands.