Extended Stay Hotels: Difference between revisions
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Revision as of 14:20, 1 April 2011
| Company type | Hotel chain |
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| Headquarters | , |
| Website | http://www.extendedstayhotels.com |
Extended Stay Hotels (ESH) is a privately owned hotel brand that operates in the extended stay hotel market. The company is headquartered in Spartanburg, South Carolina.
Extended Stay Hotels and its brands currently own and operate over 680 hotels with approximately 76,000 rooms across the United States and Canada.
According to the company's website as of August 19, 2009, its brands included the following:[1]
- Extended StayAmerica – 363 hotels
- Homestead Studio Suites – 132 hotels
- Extended Stay Deluxe – 109 hotels
- StudioPLUS – 46 hotels
- Crossland – 34 hotels
The company was formed in 2004 when the Blackstone Group, owners of Homestead Studio Suites Hotels, bought Extended Stay America.
Extended Stay Hotels, its brands, and its management company, Homestead Village Management (HVM, LLC) were purchased from The Blackstone Group by The Lightstone Group in 2007 for approximately US$8 Billion.
The company filed for Chapter 11 bankruptcy protection on June 15, 2009 but continues to operate using its cash flow instead of debtor-in-possession financing.
In September of 2009, a group of creditors led by Starwood Capital Group began negotiations to buy the entire chain for $3.5 billion. [2] However, in 2010, a group led by Centerbridge Partners won control of the company in a nearly $4 billion buyout transaction as part of a highly contested auction.[3]