The Blackstone Group Inc. (NYSE:BX) entered into an agreement to acquire Courtyard Washington Capitol Hill Navy Yard from Park Hotels & Resorts Inc. (NYSE:PK) on May 10, 2021. In a related transaction, an unknown buyer entered into an agreement to acquire Hotel Indigo San Diego from Park Hotels & Resorts Inc. (NYSE:PK). The cumulative consideration of both transactions is approximately $150 million.

Proceeds from the both hotel sales will be used to further reduce leverage.