formerly called extended stay hotels type public traded as nyse stay industry hotels founded january 9 1995 1995 01 09 in fort lauderdale florida founders wayne huizenga george d. johnson jr. headquarters charlotte north carolina united states number of locations 629 hotels 2015 area served north america key people gerardo i. lopez ceo jonathan s. halkyard cfo revenue us 1.3 billion 2015 operating income us 500.1 million 2015 net income us 283.0 million 2015 total assets us 4.5 billion 2015 total equity us 1.5 billion 2015 number of employees 8 500 website www.extendedstayamerica.com extended stay america inc. is the operator of an economy 1 extended stay hotel chain consisting of 629 properties in the united states and canada . it is listed on the new york stock exchange as a paired share with the real estate investment trust esh hospitality inc. the owner of the hotels . extended stay america is headquartered in charlotte north carolina . contents 1 history 1.1 blackstone group 1.2 relisting 2 see also 3 references 4 sources 5 external links history edit extended stay america was founded on january 9 1995 in fort lauderdale florida by a george d. johnson jr. and wayne huizenga both former executives from viacom and its subsidiary blockbuster . 2 the first two extended stay america hotels opened in august 1995 in spartanburg south carolina and marietta georgia . 3 the company was listed on the nasdaq on december 14 1995 . 4 extended stay america acquired the extended stay hotel chain studioplus on april 11 1997 . 5 the company also developed the crossland economy studios brand as a budget extended stay hotel compared the mid priced studioplus and economy extended stay america brands . 6 the corporate headquarters was moved to spartanburg in september 2001 . blackstone group edit the blackstone group a private equity firm acquired extended stay america in may 2004 for a total cost of us 3.1 billion in cash and debt . 7 8 at the time of the merger extended stay america operated 475 hotels ; blackstone increased that number with the addition of 132 from homestead studio suites . 8 homestead which was founded by security capital in 1992 had been acquired by blackstone in november 2001 for us 740 million . 9 all of blackstone s extended stay hotels consisting of the crossland extended stay america homestead studioplus and eventually extended stay deluxe brands were managed together by extended stay hotels . an extended stay deluxe hotel in hillsboro oregon blackstone sold extended stay hotels in june 2007 to the the lightstone group for us 8 billion . 10 the deal financed with us 7 billion of debt was one of several multibillion dollar hotel and casino sales made that year . 11 on june 15 2009 extended stay america filed for bankruptcy protection under chapter 11 . 12 after the great recession decimated leisure and business travel extended stay faced shortages in liquidity stemming from the leveraged buyout by lightstone two years before . through debtor in possession financing it was able to continue operating rather than to face liquidation . 12 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 . 13 after its successful reorganization extended stay america emerged from bankruptcy in october 2010 . a year after the bankruptcy blackstone was sued by creditors of extended stay america alleging that blackstone skimmed us 2.1 billion off of the sale to lightstone and knew that the amount of debt would have been for unsustainable for the hotel chain ; blackstone settled the lawsuit in june 2013 for us 10 million . 14 relisting edit in 2013 blackstone filed for initial public offerings ipo for extended stay america and another hotel company it owned hilton worldwide ; a third la quinta inns & suites ipo ed in 2014 . see also edit companies portal north carolina portal candlewood suites ihg home2 suites hilton towneplace suites marriott references edit str chain scales north america and caribbean pdf . str inc. mar 2016 . retrieved apr 9 2016 . form s 1 1996 pp. 3 4 . form s 1 1996 p. 21 . form s 1 1996 p. 12 . extended stay america inc. . form 8 k. u.s. securities and exchange commission . apr 11 1997 . p. 2 . cik 0001002579 . retrieved dec 17 2015 via edgar . extended stay america inc. . form 10 k. u.s. securities and exchange commission . mar 4 1997 . p. 10 . cik 0001002579 . retrieved dec 17 2015 via edgar . extended stay america inc. . form 8 k. u.s. securities and exchange commission . may 11 2004 . cik 0001002579 . retrieved dec 18 2015 via edgar . a b the blackstone group to acquire extended stay america inc. press release . the blackstone group . mar 5 2004 . retrieved dec 18 2015 . security capital sells homestead village to blackstone affiliate for 740 million press release . the blackstone group . nov 20 2001 . retrieved dec 18 2015 . the lightstone group closes 8 billion acquisition of extended stay hotels from the blackstone press release . the blackstone group . jun 12 2007 . retrieved dec 18 2015 . lightstone to buy extended stay hotels for 8 bln . reuters . apr 17 2007 . retrieved dec 18 2015 . a b nadgir santosh jun 15 2009 . debt strapped extended stay files for bankruptcy . reuters . retrieved dec 20 2015 . emery chelsea jul 20 2010 . us judge backs extended stay s reorganization plan . reuters . retrieved dec 20 2015 . hals tom jun 20 2013 . blackstone settles extended stay lawsuit for 10 million . reuters . retrieved dec 20 2015 . sources edit extended stay america inc. . form s 1 . u.s. securities and exchange commission . may 9 1996 . cik 0001002579 . retrieved dec 17 2015 via edgar . external links edit extended stay america v t e the blackstone group founders peter george peterson stephen a. schwarzman business services cms computers rgis sungard minority shareholder consumer retail michaels joint control performance food group pinnacle foods united biscuits financial services bankunited minority stake healthmarkets minority stake fgic minority stake healthcare biomet emcure pharmaceuticals investment vanguard health systems industrial freescale joint control kl ckner pentaplast trw automotive control media telecommunications eaccess investment nielsen holdings minority stake axtel minority stake deutsche telekom minority stake tdc minority stake the weather channel minority stake travel & leisure hilton worldwide center parcs europe freehold caesars entertainment corporation minority stake merlin entertainments minority stake seaworld entertainment tragus group travelport real estate extended stay america minority stake equity office luxury resorts lxr la quinta inns & suites v t e hotel chains accor adagio formule 1 f1 formula 1 ibis budget styles mama shelter mercure grand mercure mgallery novotel suite novotel pullman the sebel sofitel thalassa sea & spa carlson rezidor country inns & suites park inn park 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howard johnson knights inn microtel ramada super 8 travelodge tryp by wyndham wingate by wyndham wyndham grand wyndham hotels & resorts other 7 days inn ace aerowisata aman resorts americinn apex aqua archipelago best western boscolo budget host canad inns canalta center parcs club med club quarters coast cobblestone dan drury easy hotel extended stay america fiesta inn four seasons hoshino iberostar intown suites isrotel itc hotels jumeirah kempinski la quinta leading hotels of the world loews lotte magnuson mandarin oriental marco polo masters inn meli mgm resorts millennium & copthorne morgans motel 6 m venpick my place hotels nh nikko oberoi omni outrigger paradores peninsula pestana premier inn prince pueblo bonito red roof inn riu sandman santika indonesia scandic shangri la standard steigenberger swiss belhotel thistle toyoko inn trident trump value place vienna virgin defunct adam s mark alamo plaza hotel courts amerihost inn amerisuites crest hotels cross country inn denizen hotels esso motor hotel exel inn forte fred harvey friendship inn hiway house imperial 400 jack tar hotels nickelodeon resorts by marriott the real hotel company roundtowner inn shoney s inn statler hotels summerfield suites susse chalet tage inn united hotels company of america wilson world hotels lists hotels chained brand largest united states motels category commons retrieved from https en.wikipedia.org w index.php title extended stay america & oldid 725190411 categories blackstone group companiescompanies established in 1995companies based in charlotte north carolinacompanies listed on the new york stock exchangeextended stay hotel chainshospitality companies of the united statesprivate equity portfolio companiesreal estate investment trusts of the united states navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom 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