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Extended Stay America, Inc., headquartered in Charlotte, North Carolina, is the operator of an economy apartment hotel chain in the United States and Canada. Prior to June 2021, when the company was acquired by Blackstone Real Estate and the Starwood Capital Group, it was publicly traded as a "paired share" with ESH Hospitality, Inc. , a real ...
Donald left Extended Stay in December, 2015. Investors Blackstone, Centerbridge, and Paulson were able to almost triple their investment when Extended Stay America Inc. went public in 2013. [ 11 ] He was CEO of Extended Stay America from 2012 to 2015 [ 12 ] Donald's first stint with Albertsons was from 1976 until 1991. [ 13 ]
Wayne Huizenga was his business partner in the creation of Extended Stay America and later was involved in the creation of a major Blockbuster franchise, which eventually included 208 stores. [6] The pair later merged with Blockbuster, where Johnson was named a company president. [6] [7]
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An apartment hotel or aparthotel (also residential hotel, or extended-stay hotel) is a serviced apartment complex that uses a hotel-style booking system. It is similar to renting an apartment, but with no fixed contracts and occupants can "check out" whenever they wish, subject to the applicable minimum length of stay imposed by the company.
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 ...