Monday July 7 9:00 AM EDT
Company Press Release
Extended Stay America, Inc. Announces the Opening of 13 New
Properties in June
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--July 7, 1997--Extended Stay America, Inc. (NYSE:ESA - news), the
rapidly growing chain of extended stay lodging facilities, announced today that the Company opened 10 new
EXTENDED STAYAMERICA brand properties and 3 new StudioPLUS hotels during the month of June.
The following 10 EXTENDED STAYAMERICA properties were opened in June:
-- A 119-room property located at 6255 Zumstein Dr., Columbus, OH
-- A 122-room property located at 1500 Aero Drive, Linthicum (Baltimore), MD
-- A 113-room property located at 27775 Stansbury Blvd., Farmington Hills (Detroit), MI
-- A 116-room property located at 700 N. Bell Ave., Carnegie (Pittsburgh), PA
-- A 107-room property located at 4141 Boardwalk Court, Appleton, WI
-- A 132-room property located at 10721 White Rock Rd., Rancho Cordova (Sacramento), CA
-- A 119-room property located at 550 E. 105th St., South Kansas City, MO
-- A 122-room property located at 11121 W. North Ave., Wauwatosa (Milwaukee), WI
-- A 114-room property located at 2600 Corby Ave., Santa Rosa, CA
-- A 120-room property located at 15501 N. Scottsdale Rd., Scottsdale, AZ
The following 3 StudioPLUS hotels were opened in June:
-- A 73-room property located at 3125 Rider Trail South, Earth City (St. Louis), MO
-- A 73-room property located at 7901 East 31st Court South, Tulsa, OK
-- A 73-room property located at 540 W. Dussel Dr., Maumee (Toledo), OH
-0-
In January, 1997, the Company launched the first Crossland Economy Studios in Independence, MO, and 6
more are currently under construction. On April 11, 1997, the Company consummated a merger with Studio
Plus Hotels, Inc. and now owns and operates a total of 116 extended stay lodging properties.
Following is a summary of the Company's development status as of June 30, 1997:
EXTENDED
Crossland STAYAMERICA StudioPLUS Total
--------- ----------- ---------- -----
Operating Facilities 1 74 41 116
Facilities Under
Construction 6 62 30 98
Sites Under Option 37 51 18 106
Extended Stay America's three extended stay lodging brands often operate concurrently in the same
market. All properties are designed to appeal to value-conscious guests on visits of a week or longer.
StudioPLUS hotels offer deluxe and queen studios, which include kitchens, at rates generally ranging from
$299 to $399 a week. EXTENDED STAYAMERICA Efficiency Studios, with rates generally ranging from $199 to
$299 a week, offer a queen-size bed and kitchenette. Crossland Economy Studios, with rates generally
ranging from $159 to $199 per week, offer a double bed and kitchenette. Weekly housekeeping and an
on-premise guest laundry are provided at all properties.
The Company has previously announced plans to develop a total of 106 properties during 1997 and to
operate a total of 181 properties by the end of the year. The Company's goal is to become the nation's
leading provider of value priced extended stay lodging.
NOTE TO EDITORS: For copies of recent press releases from Extended Stay America via fax, at no charge,
call 888/395-STAY (7829). For company information, logo and photos via the Internet, visit
extstay.com
In the World Wide Web address noted in this news release, there is a double slash between http: and
www.extstay.com These symbols may not appear properly in some systems.
Contact:
Extended Stay America, Inc.
Mariesa McClafferty, 954/713-1624
News-On-Demand: 888/395-STAY (7829)
extstay.com |
