The past year has been successful for Extended Stay America, with the hospitality company achieving a 20% growth milestone in its franchise portfolio. The mid-price extended stay brand has several more brands in its portfolio — Extended Stay America Premier Suites, Extended Stay America Suites and Extended Stay America Select Suites — and has more than 700 hotels across the U.S.
Extended Stay America saw notable growth in franchising interest among developers and investors, which exceeded the company’s expectations.
“Franchisees are recognizing the power of the Extended Stay America brands and leveraging our proven business model as a strong foundation for their hotel investment portfolios. Extended Stay America is committed to continuing its strategic growth from both new construction and conversions. Through franchising growth, we are well-positioned to scale and expand into new markets while capitalizing on strong business and leisure demand generators for extended stay travel,” said Mark Williams, managing director, franchise development, Extended Stay America.
Some of the significant brand achievements of 2023 include:
- Franchise hotel openings jumped 20%, while the number of franchise owners more than doubled.
- The 40th Extended Stay America Premier Suites in Sparks, Nev., following the brand’s launch in 2021. This makes the midscale extended brand among the fastest new brands to achieve this milestone.
- Launch of Extended Stay America Select Suites’ new construction prototype design to meet developer requirements for a budget extended stay offering. The inaugural property broke ground in Wildwood, Fla., in September.
- Extended Stay America ventured into new markets by repositioning transient hotels into extended-stay properties. The brand has a robust pipeline of conversions in markets such as Cleveland, Pittsburgh; Buffalo, N.Y.; Chattanooga, Tenn.; Portland, Ore.; Odessa, Texas; and Omaha, Neb.
- Converted 15 Extended Stay America Suites hotels to franchise ownership groups while ensuring the brand is present in key markets. This includes Capital Insight Holdings, Paragon Hotel Corporation, T3 Capital, L.P. and Wayside Investment Group.