CHARLOTTE, NC—Extended Stay America, Inc. and ESH Hospitality, Inc. have completed sales of two portfolios totaling 32 branded Extended Stay America hotels.
ESA and ESH Hospitality recently completed the sale of 16 ESA branded hotels to Lodging Advisory Group LLC. 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 ESA hotels in the future.
ESA and ESH Hospitality also recently sold 16 ESA branded hotels to Provident Realty Advisors Inc.. The hotels acquired by Provident include 11 hotels in Texas and five in Oklahoma and 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 ESA hotels in the future.
“We are thrilled to welcome LAG and Provident as our second and third franchise partners, respectively, into the Extended Stay America system,” said “Extended Stay America President and Chief Executive Officer Jonathan Halkyard. “With their deep industry experience combined with our industry leading margins and our dominant position in the mid-priced extended stay segment in the lodging industry, we look forward to many years of success together.”