Lightstone's purchase of US-based Extended Stay Hotels from The Blackstone Group has catapulted Bear Stearns, one of its advisors on the deal, to the head of league table for hotel mergers and acquisitions.

The $8bn (€5.9bn) deal is the largest in the hotel sector since 2005, according to data provider Dealogic. Bear Stearns, Banc of America and Merrill Lynch were financial advisers for The Blackstone Group.