Extended Stay Hotels Plans Reorganization
Posted 3/11/2010 - 6:43:13 AM
| 
| 
| 
| 
| 
| 
| 
| 
| 
| 
What are these?
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
SPARTANBURG, SC—Having sought bankruptcy protection last year, Extended Stay Hotels hopes to emerge from Chapter 11 this summer.
The privately held chain, which has more than 650 company-owned hotels, would reorganize with a $450 million cash infusion provided by two private-equity firms. The equity firms, in turn, would end up owning roughly 25 percent of the reorganized company.