NEW YORK CITY (dpa-AFX) - Private equity firm Blackstone Group LP (BX) has agreed to pay more than $1.2 billion to a consortium led by Paulson & Co. for three large hotels in Orlando, Florida, and Scottsdale, Arizona, the Wall Street Journal reported Monday, citing people familiar with the matter.
The hotels - Ritz Carlton and J.W. Marriott in Orlando, and the J.W. Marriott in Scottsdale - combined have more than 2,500 rooms, about 472,000 square feet of meeting space and 54 holes of golf on 800 acres, the Journal quoted one person familiar with the properties as saying.
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