Extended Stay America Celebrates 20% Growth In Franchise Portfolio
Charlotte, NC
Extended Stay America Celebrates 20% Growth In Franchise Portfolio
Charlotte, NC
Extended Stay America:
Extended Stay America, the leading mid-price extended stay brand, announced today its growth outlook through franchising, following the momentum from a strong year of milestones, including 20% growth of its franchise portfolio across its family of brands: Extended Stay America Premier Suites, Extended Stay America Suites and Extended Stay America Select Suites.
The strong momentum from franchising drove notable brand achievements last year. Highlights include:
- Franchise hotel openings increased 20% in 2023, while the number of franchise owners more than doubled.
- The 40th Extended Stay America Premier Suites property opened in Sparks, NV following the brand’s debut in 2021 - making this midscale extended stay brand the fastest new brand to reach this milestone.
- Unveiled Extended Stay America Select Suites new construction prototype design to meet developer demands for an economy extended stay brand, with the first groundbreaking in Wildwood, FL in September 2023.
- Tapped into new markets through the repositioning of transient hotels into extended stay properties, creating a strong pipeline of conversions in areas including Cleveland, OH; Pittsburgh, PA; Buffalo, NY; Chattanooga, TN; Portland, OR; Odessa, TX; and Omaha, NE.
Converted 15 Extended Stay America Suites properties to franchise ownership groups including Capital Insight Holdings, Paragon Hotel Corporation, T3 Capital, L.P., and Wayside Investment Group, maintaining brand presence in key markets.
“In 2023, we experienced exponential growth in franchising interest of Extended Stay America hotels among developers and investors, exceeding our expectations,” said Mark Williams, Managing Director, Franchise Development, Extended Stay America. “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.”
About Extended Stay America
Extended Stay America is the leading mid-priced extended stay hotel brand in the U.S., with more than 700 hotels. Committed to delivering value and genuine goodness to every guest at every location, the Extended Stay brand family includes Extended Stay America Premier Suites, Extended Stay America Suites, and Extended Stay America Select Suites.
About Sandpiper
Based in Richmond, Va., Sandpiper, LLC is a nationally-focused real-estate investment organization recognized as one of the leading companies specializing in extended stay lodging properties. The company continues to develop its portfolio through ground-up development and selective acquisition of performing and non-performing properties. Sandpiper owns a total of 39 hotels under the Candlewood Suites (IHG), Courtyard (Marriott), ECHO Suites (Wyndham), Premier Suites (Extended Stay America), Residence Inn (Marriott), RiseWell Kitchen Suites (Sandpiper), Suburban Studios (Choice), and WoodSpring Suites (Choice) brands.
Sandpiper Hospitality ("SH"), an affiliated hotel management company, manages the entire Sandpiper portfolio and manages 30+ more hotels for unaffiliated third parties. SH has earned its position as the leading operator in the extended stay hotel segment of hospitality by combining the spirit of genuine, welcoming hospitality with superior financial returns, fueling the growth and prosperity of its various stakeholders – from associates to guests to owners and investors. For more information, visit www.sandpiperhospitality.com.
