The Firm is representing Blackstone in connection with the acquisition of Extended Stay America, Inc. (“ESA”) and its paired-share REIT, ESH Hospitality, Inc. (“ESH”) (NASDAQ: STAY), by a 50-50 joint venture between funds managed by Blackstone Real Estate Partners and Starwood Capital Group in an all-cash transaction valued at approximately $6 billion. Completion of the transaction, which is expected to occur in the second quarter of 2021, is contingent upon customary closing conditions, including stockholder approval. In connection with the transaction, an affiliate of Starwood Capital Group, which owns approximately 9.4% of the paired shares, has agreed to vote its shares in favor of the transaction.~~ESA and its brand Extended Stay America® is the leading brand in the mid-priced extended stay segment in the United States with 650 hotels. ESH is the largest lodging REIT in North America by unit and room count, with 564 hotels and approximately 62,500 rooms in the United States. ESA also franchises an additional 86 Extended Stay America® hotels.~~The Simpson Thacher team includes Brian Stadler, Matt Rogers, Janet K. Yu and Brendan Montgomery (M&A); Sas Mehrara, Whitney Salinas, Leanne Welds, Amy Oster and Michael Scala (Real Estate); Nancy Mehlman and Tyler Robbins (Tax); Andrew Blau, Joo Hyun Lee and Garrick Ehlers (Executive Compensation and Employee Benefits); Jonathan Ozner (Capital Markets); Lori Lesser (Intellectual Property); and Drew Harmon (Funds).