Hotel Resource - Extended Stay America Hotel Industry News

HVM L.L.C., said today that the Chapter 11 filing announced by the Board of Directors of Extended Stay Inc. should have no impact on operations of the chain of hotels.

The proposed merger was announced on March 5, 2004 and is expected to close on May 11, 2004

Blackstone Group, a New York-based private equity firm, is poised to become the dominant player in the fast-growing long-term lodging sector, a market that barely existed a decade ago.

Standard & Poor's on Monday said it may cut its ratings on Extended Stay America, Inc. after the hotelier said on Friday it had agreed to be acquired by private equity firm the Blackstone Group for more than $1.9 billion.

New York Investment Firm to Buy Extended Stay America Hotel Chain for $2 Billion

Extended Stay America, Inc. (NYSE:ESA) has opened a three-story Extended StayAmerica Efficiency Studios hotel located at 55 West Merritt Boulevard, Fishkill, New York.

Extended Stay America, Inc. (NYSE:ESA), a leading provider of extended stay lodging, today announced that its Board of Directors declared a cash dividend of $0.04 per share payable on February 24, 2004, to stockholders of record on February 9, 2004.

Extended Stay America, Inc. (NYSE: ESA) announced today that James A. Ovenden has been appointed Chief Financial Officer for the Company effective February 1, 2004. Mr. Ovenden replaces Gregory R. Moxley who resigned January 6 to pursue other opportunities.

Extended Stay America, Inc. (NYSE: ESA) has opened a five-story Extended StayAmerica Efficiency Studios hotel located at 6800 Metropolitan Center Drive, Springfield, Virginia.

SPARTANBURG, S.C. Dec. 1, 2003 Extended Stay America, Inc. (NYSE: ESA) has opened a four-story Extended StayAmerica Efficiency Studios hotel located at 1303 Lebanon Church Road, West Mifflin, Pennsylvania.