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Extended Stay America® to Grow Presence in Texas With New Property in San Antonio

January 21, 2020 at 9:00 AM EST
Extended Stay America® to Convert an Existing Hotel Location, Adding to Portfolio in Texas

CHARLOTTE, N.C., Jan. 21, 2020 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. (NASDAQ:STAY), the largest mid-priced extended stay hotel brand, announced today the franchise conversion of an existing hotel in San Antonio, Texas. The new Extended Stay America® property is owned by an affiliate of Provident Realty Advisors, Inc., a Dallas based developer with 28 years of real estate and development experience. The converted hotel stands four stories high and contains a total of 113 rooms. The new Extended Stay America location will feature a fresh, contemporary interior design, an open lobby concept and inviting social space. The hotel will offer guests a complimentary Grab & Go breakfast, laundry room, a fitness room, an outdoor pool and hot tub, a barbeque area and free onsite parking to make the stay as convenient as possible.

Similar to all Extended Stay America hotels, the rooms will include fully equipped in-room kitchens, including full-size refrigerators, a microwave oven and cooktops that will satisfy all guests’ cooking needs. Rooms will also feature comfortable pillow-top beds, recliners and a spacious and flexible workspace with high-speed internet access for those traveling for business.

“We are proud to be working with Provident Realty and Aimbridge Hospitality as they continue to grow and expand their Extended Stay hotel platform. The reflagging and opening of this San Antonio location represents the 20thExtended Stay America hotel under their ownership, with plans to open additional hotel conversions by early 2021,” said Stephen Miller, Managing Director of Franchise Development for Extended Stay America. “We are especially excited for the opening of this hotel property, as it expands Extended Stay America’s presence to three locations within San Antonio, the second largest city in Texas and one of the fastest growing markets in the nation over the last decade.”

Located at 21103 Encino Commons Blvd., only eight miles north of the San Antonio Airport, this hotel is easily accessible for visitors flying into the city. The location is conveniently located in proximity to Six Flags Fiesta Texas and the San Antonio River Walk, as well as restaurants including Wing Stop, Chick-Fil-A® and more, perfect for guests to grab a bite during their stay.

“This acquisition is a unique opportunity for Provident that allows us to expand our hotel portfolio within an underserved industry segment,” said Leon Backes, Founder and CEO of Provident Realty Advisors. “We plan to continue accelerating our position into the extended stay arena and have found a great partner in Extended Stay America.”

This conversion marks the third of the new hotels Provident committed to build or convert as part of their initial acquisition of an Extended Stay America portfolio just over a year ago. All Extended Stay America properties in the Provident portfolio are being operated by Aimbridge Hospitality, the world’s largest third-party hotel management company.

For photos of Extended Stay America San Antonio – North, visit: https://coynepr.sharefile.com/d-sefee18bf2dd4c2c9. For information about booking or to book a room at Extended Stay America San Antonio – North, visit https://www.extendedstayamerica.com/hotels/tx/san-antonio/san-antonio-north or call 210-545-2477.

About Extended Stay America
Extended Stay America, Inc. and its brand Extended Stay America® is the leading brand in the mid-priced extended stay segment in the U.S with 631 hotels. Extended Stay America’s subsidiary, ESH Hospitality, Inc. (“ESH”), is the largest lodging REIT in North America by unit and room count, with 557 hotels and more than 61,500 rooms in the U.S. Extended Stay America also manages or franchises an additional 74 Extended Stay America® hotels. Visit www.esa.com for more information.

About Provident Realty Advisors, Inc.
Provident Realty Advisors, Inc (“Provident”) is a Dallas based private developer that was founded in 1991 by Leon Backes. Over the past 28 years, Provident has developed, redeveloped, or invested in over $10 billion worth of real estate and grown to over 120 employees including an in-house construction team.

In addition to hospitality, Provident’ s development track record and experience includes a variety of asset types including multi-family, single family, retail, office and self-storage. Provident currently owns over 12,000 apartment units through ground up development and acquisition and a value-add acquisition program has developed over 10,000 master-planned residential lots including Paloma Creek – a perennial best-selling master plan community in the country. In addition to residential development, Provident has developed over a million square feet of retail and office space and built over two dozen self-storage facilities. For more information about Provident Realty Advisors, please visit www.providentrealty.net.

About Aimbridge Hospitality
Aimbridge Hospitality is the leading, global, third-party hotel management company operating branded full service, select service, luxury hotels, destination resorts, convention centers and lifestyle hotels. Aimbridge merged with Interstate Hotels & Resorts in 2019, and now represents a premium portfolio of more than 1,400 branded and independent properties in 49 states and 20 countries. Aimbridge is based in Plano, Texas, and has additional corporate offices in Atlanta, Calgary, Chicago, Fargo, National Landing, Puerto Rico, San Clemente, Scottsdale and Toronto. Aimbridge’s International Division, Interstate Hotels & Resorts, has supporting offices spread across Europe in Amsterdam, Birmingham, Glasgow and Moscow.

For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com and connect with Aimbridge on LinkedIn.

CONTACTS: Investors:
  Rob Ballew
  (980) 345-1546
  investorrelations@esa.com
   
  Media:
  Jon Alcorn
  (980) 345-1714
  jalcorn@esa.com
   
  Chandler Smith
  (212)-938-0896
  esa@coynepr.com

 

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Source: Extended Stay America, Inc.