Starwood Capital Group, a leading global private investment firm, announced today that it has acquired a portfolio of fifty U.S. economy extended-stay locations from Mount Kellett Capital Management LP and its partners, further building upon its growing InTown Suites brand.

This deal, which was completed by a controlled affiliate of Starwood Capital Group, consists of 6,106 rooms primarily in the Southeast, including desirable markets in North Carolina, Florida, Texas, Georgia and Alabama. With this acquisition, InTown Suites will become the largest owner of economy extended-stay hotels in the United States, with one hundred and eighty nine owned locations and 24,154 suites. Starwood Capital Group purchased InTown Suites in 2013 with the goal of expanding the company's footprint and reinventing how consumers viewed and used extended stay properties.

"The economy extended-stay sector continues to outperform other hospitality sectors, including luxury, and today's transaction marks another important step in our effort to capitalize on this growth opportunity," said Suril Shah, Starwood Capital Group's Acquisitions Managing Director. "Since acquiring InTown, we have seen its valuation increase by more than 30 percent, and we are confident that the upward trajectory will continue."

"We are very focused on maintaining our leadership role by aggressively growing within our sector through acquisition and ground-up development," said Jonathan Pertchik, CEO of InTown Suites. "We expect to apply the same discipline, process and focus that InTown has used in its other acquisitions to continue to outperform competitors."

About The Starwood Capital Entities

The Starwood Capital Entities are investment affiliates of Starwood Capital Group, which is a private investment firm with a core focus on global real estate. The Firm and its affiliates maintain 16 offices in seven countries around the world, and currently have 5,000+ employees. Since its inception in 1991, Starwood Capital Group has raised over $75 billion of capital, and currently has ~$115 billion of assets under management. Through a series of commingled opportunity funds and Starwood Real Estate Income Trust, Inc. (SREIT), a non-listed REIT, the Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving. Starwood Capital also manages Starwood Property Trust (NYSE: STWD), the largest commercial mortgage real estate investment trust in the United States, which has successfully deployed over $95 billion of capital since inception and manages a portfolio of over $27 billion across debt and equity investments. Over the past 32 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. Additional information can be found at www.starwoodcapital.com.