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Blackstone Seeks IPOs as Hotel Sales Climb: Real Estate

Private-equity firms are accelerating sales of hotels to take advantage of a recovery in U.S. lodging demand and stock prices close to record highs.

Hotel-property transactions jumped 47 percent to $14.1 billion this year through July in the U.S., according to Real Capital Analytics Inc. Sales by institutional investors, including private-equity funds, more than doubled in the first half, as the growth of revenue per available room slowed. Blackstone Group LP, the largest buyout firm, has decided now’s the time to sell shares as it prepares initial public offerings of Hilton Worldwide Holdings Inc. and Extended Stay America Inc.