Blackstone Group, the US private equity house, has sold four American hotels to a US/Irish consortium for US$207.8m (140.8m euro, £101m).

Interstate Hotels & Resorts, which is based in Arlington, Virginia, signed a joint venture agreement with Harte Holdings of Cork, Ireland to buy the four properties, located in Frazer, Pennsylvania; Mahwah, New Jersey; Washington DC and Lafayette, Louisiana.

Interstate will manage all four hotels under new management agreements.

Interstate said that the consortium would invest more than US$30m of additional funds for renovations in the two years following the deal. The company also said that it and Harte Holdings would continue to look for future acquisitions.