U.S. markets closed

Extended Stay America® Extends Presence in Houston Area With New Location in Katy, TX

New Extended Stay America® Franchise Location to Convert from Existing Hotel Location

CHARLOTTE, N.C., Nov. 11, 2019 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. (STAY), the largest mid-priced extended stay hotel brand, announced today the franchise conversion of an existing hotel in Katy, Texas into an Extended Stay America® property owned by an affiliate of Provident Realty Advisors, Inc., a Dallas based developer with 28 years of real estate and development experience. This 102-room franchised location will feature a fresh, contemporary interior design, a lobby concept with an open and inviting social space for guests, a barbeque area, on-site parking, a fitness room, a laundry room and a meeting room.

As with all Extended Stay America hotels, guests can create home-cooked meals away from home with fully equipped in-room kitchens including full size refrigerators and cooktops. The bright, spacious suites feature pillow-top beds, comfortable recliners and a large, flexible workspace. Each room also has extra personal device charging capability conveniently located near sitting and sleeping areas, enhanced free Wi-Fi speeds and high-definition televisions with premium cable.

“Houston continues to experience strong growth and now is the perfect time to expand the brand’s footprint in the area,” said Jim Alderman, Chief Development Officer for Extended Stay America. “Our newest franchise-owned Extended Stay America location in Katy will bring a vibrant, at-home feel to guests, while providing an affordable price and a convenient commute for guests traveling to major corporations and other destinations in the Houston area.”

Located only 20 miles from Houston, the franchise-owned hotel is easily accessible for business travelers commuting to the area, delivering on Extended Stay America’s promise to care for people who are building a better future for themselves and their families.

“This acquisition is a unique opportunity for Provident that allows us to be a part of a growing industry,” said Leon Backes, Founder and CEO of Provident Realty Advisors. “We are excited to grow into the hospitality realm and have found a great partner in Extended Stay America.”

This conversion marks the second of five hotels Provident committed to build or convert as part of their acquisition of the initial portfolio. All 18 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 Katy, visit: https://coynepr.sharefile.com/d-sa7d3ebcbda24eef9. For information about booking or to book a room at Extended Stay America Katy, visit www.extendedstayamerica.com/hotels/tx/houston/houston-katy-i-10 or call 281-578-9993.

About Extended Stay America

Extended Stay America, Inc. (“ESA”) and its brand Extended Stay America® is the leading brand in the mid-priced extended stay segment in the U.S. with 627 hotels. ESA’s subsidiary, ESH Hospitality, Inc. (“ESH”), is the largest lodging REIT in North America by unit and room count, with 554 hotels and approximately 61,500 rooms in the U.S. ESA also manages or franchises an additional 73 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.

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 masterplanned 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:
Jim Alderman
jalderman@extendedstay.com

Chandler Smith
(212) 938-0896
esa@coynepr.com