Extended Stay America, Inc., headquartered in Charlotte, North Carolina, is the operator of an economy apartment hotel chain in the United States and Canada.
Extended Stay America was founded on January 9, 1995 in Fort Lauderdale, Florida by George D. Johnson, Jr. and Wayne Huizenga, both former executives from Viacom and its subsidiary Blockbuster LLC.
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.
[13] The Great Recession decimated leisure and business travel and Extended Stay faced shortages in liquidity stemming from the leveraged buyout by Lightstone.
[14] 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.