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The first two Extended Stay America hotels opened in August 1995 in Spartanburg, South Carolina and Marietta, Georgia. [3] The company became a public company via an initial public offering on December 14, 1995. [4] Extended Stay America acquired the extended-stay hotel chain StudioPLUS on April 11, 1997. [5]
In July 2010, an investment consortium made up of Blackstone, Paulson & Co., and Centerbridge Partners bought Extended Stay America through a bankruptcy auction for US$3.93 billion. [10] After its successful reorganization, Extended Stay America emerged from bankruptcy in October 2010. A year after the bankruptcy, Blackstone was sued by ...
32 New York. 33 North Carolina. 34 North Dakota. ... Extended Stay America; Family Dollar; Firefly Balloons; ... holding company of AmeriGas Partners, L.P.
Extended Stay America (STAY) has reached an agreement to be acquired by a 50/50 joint venture between Blackstone and Starwood Capital Group for $6 billion.
Newer properties, as well as acquisitions, have interior corridors. Its competitors include America's Best Value Inn, Days Inn, Econo Lodge, and Super 8 Motels. In 1999, Motel 6 launched Studio 6 Extended Stay, hotels with suites that are designed for longer stays and feature kitchenettes.
Residence Inn by Marriott is a brand of extended stay hotels. As of June 1, 2021 [update] , there were 874 Residence Inn hotels in the United States, Canada and Mexico with 107,680 rooms, plus an additional 243 hotels with 30,417 rooms in the development pipeline.
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They acquired the Suburban Extended Stay hotel chain in 2005, with over 150 hotels open and under development. The low-budget extended stay chain Intown Suites was founded in 1988, with 139 locations in 21 states. Since 1999 the U.S. budget lodging chain Motel 6, owned by The Blackstone Group (previously Accor), [1] operates Studio 6, a chain ...