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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 ...
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 ...
During two decades of existence, Intown Suites has proved to be a very successful business, and is currently one of the fastest growing extended-stay chains. In May 2015, 50 properties were purchased by Starwood Capital Group. [2] In 1998, Intown Suites expanded from 26 to 76 properties in a $150 million investment, an alternative to going public.
From 2009 to 2014, Seattle had a big increase in the building and creation of new SRO units designed to be rented at market rates, which had an average monthly rent of $660; In 2013, for example, 1,800 SRO units and microapartment units were built. [48]
The acquisition increased the number of apartment owned by the company to 10,873 and made it the largest apartment owner in Alabama. [3] In 2004, the company acquired Cornerstone Realty Income Trust for $650 million in stock. [4] In 2005, the company partnered with DRA Advisors to acquire CRT properties.
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