Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
Extended Stay America history
Extended Stay America company history timeline
Established in 1995, Extended Stay America, Inc. (ESA) operates some 400 extended-stay hotels in 38 states.
Longtime friend and executive at both Waste Management and Blockbuster, George Johnson, Jr., approached Huizenga with an idea in early 1995.
1995: Extended Stay (ESA) is incorporated and makes initial public offering of stock.
Todd Turner and Corry Oakes were the first employees when George Dean Johnson, Jr. created Extended Stay America in 1995.
By the end of 1996 ESA would be operating 40 Extended StayAmerica Efficiency Studio brand hotels, far more than originally projected, with 50 additional properties under construction and the land for another 106 under option.
Extended Stay America acquired the extended-stay hotel chain StudioPLUS on April 11, 1997.
By the end of 1997 ESA would have 185 hotels in operation under its three brands, with another 84 properties under construction and 146 sites under option.
Revenues for 1997 increased to $130 million, although rapid expansion resulted in lower earnings, which fell to $2.6 million.
Despite tepid support from Wall Street, ESA posted healthy results for 1998: earnings of $28 million on revenues of $283 million.
Slowing the Pace in 1999
As ESA scaled back construction in 1999, it concentrated on sites where there was an opening in the market while giving up options in areas that already had strong competition in extended-stay lodging.
Management was now projecting that by 2000 it would have 540 hotels in operation.
2000: Company reaches $500 million in annual revenues.
Overall in 2001 it looked to open 28 additional hotels.
The Blackstone Group, a private equity firm, acquired Extended Stay America in May 2004 for US$3.1 billion in cash and debt.
By the end of 2004, less than a year after its founding, OTO Development was awarded its first development award, the “Outstanding Achievement Award” presented by Hampton.
In June 2007, Blackstone sold Extended Stay Hotels to the Lightstone Group for US$8 billion.
On June 15, 2009, Extended Stay America filed for bankruptcy protection under Chapter 11.
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.
OTO was recognized by Marriott with the “Spirit to Preserve” award in 2010 for exemplifying commitment to environmental sustainability in hotel development and operations, the first award of its kind.
OTO Development was also named a “Partnership Circle Award” winner, Marriott’s highest honor and received this distinction again in 2014.
In April 2020, The Blackstone Group acquired an 4.9% stake in the company and Starwood Capital Group acquired an 8.5% stake in the company.
The company went private in June 2021 when Blackstone Real Estate and the Starwood Capital Group acquired the remaining shares and the company was delisted from Nasdaq.
© 2021 OTO Development.
Rate how well Extended Stay America lives up to its initial vision.
Extended Stay America jobs
Do you work at Extended Stay America?
Does Extended Stay America communicate its history to new hires?
Extended Stay America competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| G6 Hospitality | 1985 | $1.9B | 30,000 | 17 |
| Comfort Inn | 1939 | $1.6B | 1,987 | 103 |
| Fairfield Inn | - | - | 751 | 190 |
| Marriott International | 1927 | $25.1B | 121,000 | 6,363 |
| COMFORT SUITES | - | $1.3M | 50 | 52 |
| Best Western | 1946 | $6.0B | 1,254 | 113 |
| Quality Inn Gettysburg Battlefield | 1956 | $3.0M | 35 | 26 |
| Holiday Inn City Center | - | $8.5M | 60 | 5 |
| Residence Inn | - | $54.0M | 1,963 | 169 |
| Radisson Hotels International Inc | 1983 | $1.8B | 17,800 | - |
Extended Stay America history FAQs
Zippia gives an in-depth look into the details of Extended Stay America, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Extended Stay America. The employee data is based on information from people who have self-reported their past or current employments at Extended Stay America. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Extended Stay America. The data presented on this page does not represent the view of Extended Stay America and its employees or that of Zippia.
Extended Stay America may also be known as or be related to Extended Stay America, Extended Stay America Inc, Extended Stay America, Inc., Extended Stay Hotels and Extended Stayamerica.