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Blackstone Is Said to Buy Three Hotels for $1.3 Billion

Corrected

Blackstone Group LP agreed to buy three high-end U.S. resorts for about $1.3 billion from a group led by Paulson & Co., according to a person with knowledge of the transaction.

The properties are the JW Marriott and the Ritz-Carlton in Orlando, Florida, and the JW Marriott Phoenix Desert Ridge in Arizona, said the person, who asked not to be identified because the deal isn’t public.