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Extended-stay hotel company Extended Stay America has assigned 25 new or completely renovated U.S. properties to a new higher-end brand with upgraded amenities, according to the company.
The new Extended Stay America Premier Suites was developed as a result of feedback from guests seeking a more premium extended-stay hotel option, said ESA president and CEO Bruce Haase in a statement. Sector analysts The Highland Group consider ESA a midprice extended-stay brand.
Enhanced amenities at Premier Suites properties include with upgraded design elements in guest rooms, like signature bedding, larger flat-screen TVs and a free breakfast bar, according to ESA.
Extended Stay America carves out Premier brand: Travel Weekly
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Extended Stay America Launches Premier Suites
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Blackstone Real Estate Partners and Starwood Capital Group have signed a definitive agreement to acquire Extended Stay America hotel company, the companies announced Monday. Pending shareholder approval, the all-cash $6 billion transaction will take place via a 50/50 joint venture of funds managed by the two partners. According to Extended Stay America, the brand operates 630 fully owned and operated hotels across the United States, comprising 69,000 guest rooms. ESA is a midscale extended-stay brand.
The companies expect the deal to close in the second quarter, following customary closing conditions.
The resilience of the extended-stay category in the high-pressure environment of the pandemic was a motivating factor for the acquisition, said Starwood Capital Group CEO Barry Sternlicht.