Extended Stay America to sell 32 hotels

2018-11-06 Tag: Extended Stay America

Extended Stay America,Extended Stay America to sell 32 hotels

Extended Stay America and ESH Hospitality completed sales of two portfolios totaling 32 branded Extended Stay America hotels.

The company recently completed the sale of 16 Extended Stay America branded hotels to Lodging Advisory Group, a hotel owner, developer and asset manager with offices in Wichita, Kan.; Denver; and Phoenix. The hotels acquired by LAG include hotels located in Kansas, Missouri, New Mexico, Nebraska and Arizona. The disposition comes with franchise agreements for each of the 16 hotels. Additionally, LAG has committed to build or convert five additional Extended Stay America hotels in the future.

The company also recently sold 16 Extended Stay America branded hotels to Provident Realty Advisors, a Dallas-based developer with 27 years of real estate experience. The hotels acquired by Provident comprise 11 properties in Texas and five in Oklahoma, and all will be operated by Aimbridge Hospitality. The disposition comes with franchise agreements for each of the 16 hotels. Additionally, Provident has committed to build or convert five additional Extended Stay America hotels in the future.



  • 1
  • 2
  • 3
  • 4
  • 5
3/5 More »
Recommended Products

X

X