02:35 PM EDT, 08/22/2024 (MT Newswires) -- (Updates with the company's response in the fourth paragraph.)

Blackstone (BX) is in negotiations to acquire the Hyatt Regency Clearwater Beach Resort and Spa in Florida from Westmont Hospitality Group for about $200 million, Bloomberg reported Wednesday, citing people with knowledge of the matter.

The deal has not been finalized and could still fall through, Bloomberg said, citing the people.

The Clearwater hotel, which reportedly has 286 rooms and over 20,000 square feet of event space, was acquired by Westmont in 2016 for about $121 million, according to the news outlet.

Blackstone declined to comment on the matter.

Westmont did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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