Extended Stay America, Inc. (NASDAQ:STAY) announced today the start of hotel construction on the first franchise new build of an Extended Stay America hotel in Colonial Heights, Virginia. The property is expected to open in early 2020.
The four-story 92-room hotel will feature the new StayPlay lobby design, and other modern features in the guest rooms driven by research in the value extended stay segment, including all vinyl plank flooring throughout, modernized kitchens with open cabinetry, solid surface countertops, raised platform beds for better storage options for guests, black-out shades for an enhanced sleep experience, and a new fresh color palate. For guest convenience the hotel will also contain a fitness center and guest laundry/vending area, and of course our complimentary grab and go breakfast, free in-room Wi-Fi, HD-TV with chromecast streaming capability and pet-friendly rooms. The property is being developed and managed by KARA Hospitality, a group managed by local cardiologist and entrepreneur, Mitesh Amin.
"This property and our partnership with KARA Hospitality mark the first franchise new build hotel in our system," said Jim Alderman, Chief Development Officer, Extended Stay America, Inc. "It continues our strategy of growing the ESA portfolio of properties through development and franchising. We look forward to several more groundbreakings with KARA Hospitality."
"By partnering with Extended Stay America on this property, we are bringing a wonderful addition to our portfolio and the community," said Mitesh Amin, Managing Partner of KARA Hospitality. "The property's location allows it to provide guests with a clean, comfortable suite with lots of room to relax, fully equipped kitchens, free grab-and-go breakfast, and on-site laundry to ensure guests have everything they need whether staying for a night, a week, or longer to make their stay more enjoyable."
The Extended Stay America Colonial Heights is centrally located adjacent to Southpark Mall, minutes from the Fort Lee Army Base, Virginia State University, Southside Regional Medical Center, Hopewell Docks and Train Center. Guests will have access to Appomattox River, Swader's Sports Park, Virginia Motorsports Park, along with the Fort Lee, Chester, Petersburg and Richmond business and real estate districts.
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