|FORT LAUDERDALE, Fla - July 7, 1998-- Extended Stay America,
Inc. (NYSE: ESA), the
fastest growing company owned and operated hotel chain in the U.S.,
continued its national expansion program with the opening of 10 new properties
Four Crossland Economy Studios properties were opened at:
|11140 Boardwalk Drive, Baton Rouge, Louisiana (132 rooms)
|3440 West Walnut Hill Lane, Irving (Dallas), Texas (139 rooms)
|5959 Guhn Road, Houston, Texas (145 rooms)
|150 Valley Wood Road, Houston, Texas (141 rooms)
Four EXTENDED STAYAMERICA Efficiency Studios brand properties
were opened at:
|3216 Tillman Drive, Bensalem (Philadelphia), Pennsylvania (101rooms)
|2265 Mt. Zion Parkway, Morrow (Atlanta), Georgia (104 rooms)
|9704 Beaver Dam Road, Hunt Valley (Baltimore), Maryland (104 rooms)
|14775 Firestone Boulevard, La Mirada (Los Angeles), California (104
Two StudioPLUS Deluxe Studios brand properties were opened
|5610 Vineland Road, Orlando, Florida (84 rooms)
|1100 Oakesdale Avenue SW, Renton (Seattle), Washington (110 rooms)
The Company's first EXTENDED STAYAMERICA Efficiency Studios property
opened in August, 1995, in Spartanburg, SC. In January, 1997, the Company
launched the first Crossland Economy Studios in Independence, MO, and on
April 11, 1997, the Company consummated a merger with Studio Plus Hotels,
Inc. The Company now owns and operates 239 extended stay lodging properties
in 37 states.
Following is a summary of the Company's development status as of June
EXTENDED STAY AMERICA
|Sites Under Option
Extended Stay America's three extended stay lodging brands often operate
concurrently in the same market. All properties are designed to appeal
to value-conscious guests on visits of a week or longer.
Crossland Economy Studios, with rates generally ranging from $159 to
$199 per week, offer a double bed and kitchenette.
EXTENDED STAYAMERICA Efficiency Studios, with rates generally ranging
from $199 to $299 a week, offer a queen-size bed and kitchenette.
StudioPLUS Deluxe Studios offer deluxe and queen studios, which include
kitchens, at rates generally ranging from $299 to $399 a week. Weekly housekeeping
and an on-premise guest laundry are provided at all properties.