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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 ...
Extended stay hotels: Founded: 1997: Number of locations. ... TownePlace Suites operated 433 hotels in the United States and Canada with 43,953 rooms in addition to ...
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]
Lightstone acquired Extended Stay Hotels for a total of $8.1 billion, making Lightstone the parent company of one of the largest mid-priced hotel brands in the United States. At the time, it was said the hotel group had 683 hotels across 44 US states and Canada. [12] Extended Stay later sought bankruptcy protection due to the Great Recession. [2]
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.
The Marriott hotel chain began when the Hot Shoppes, Inc. restaurant company decided to diversify into hotels. Its first hotel opened in 1957 in Virginia, the Marriott Motor Hotel, adjacent to The Pentagon and Washington National Airport. [4] The company's second hotel was the nearby Marriott Key Bridge Motor Hotel, which opened in 1959. [5]
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