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Extended Stay America was founded on January 9, 1995 in Fort Lauderdale, Florida by George D. Johnson, Jr. and Wayne Huizenga, both former executives from Viacom and its subsidiary Blockbuster LLC. [ 2 ] The first two Extended Stay America hotels opened in August 1995 in Spartanburg, South Carolina and Marietta, Georgia. [ 3 ]
In 1996, Choice Hotels introduced its first extended-stay hotel brand, MainStay Suites, which was advertised as the first mid-price extended-stay chain. [29] The first MainStay Suites location opened in Plano, Texas in November 1996. In 1997, the Friendship Inn brand was eliminated, with its locations being converted to the Rodeway brand. [30]
Hyatt Hotels Corporation, commonly known as Hyatt Hotels & Resorts, is an American multinationalhospitality company headquartered in the Riverside Plazaarea of Chicagothat manages and franchises luxury and business hotels, resorts, and vacation properties. Hyatt Hotels & Resorts is one of the businesses managed by the Pritzker family.
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.
Hilton Worldwide Holdings Inc. is an American multinational hospitality company that manages and franchises a broad portfolio of hotels, resorts, and timeshare properties. Founded by Conrad Hilton in May 1919, the company is now led by Christopher J. Nassetta. Hilton is headquartered in Tysons, Virginia, United States.
Extended Stay America (STAY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Best Western. Best Western International, Inc. owns the Best Western Hotels & Resorts brand, which it licenses to over 4,700 hotels worldwide. [ 1 ] The franchise, with its corporate headquarters in Phoenix, Arizona, [ 2 ] includes more than 2,000 hotels in North America. [ 3 ] The brand was founded by M. K. Guertin in 1946.
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 ...
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