Extended Stay America, the leading mid-price extended stay brand, announced today its growth outlook through franchising, following the momentum from a strong year of milestones, including 20% growth of its franchise portfolio across its family of brands: Extended Stay America Premier Suites, Extended Stay America Suites and Extended Stay America Select Suites.
The strong momentum from franchising drove notable brand achievements last year. Highlights include:
- Franchise hotel openings increased 20% in 2023, while the number of franchise owners more than doubled.
- The 40th Extended Stay America Premier Suites property opened in Sparks, NV following the brand’s debut in 2021 – making this midscale extended stay brand the fastest new brand to reach this milestone.
- Unveiled Extended Stay America Select Suites new construction prototype design to meet developer demands for an economy extended stay brand, with the first groundbreaking in Wildwood, FL in September 2023.
- Tapped into new markets through the repositioning of transient hotels into extended stay properties, creating a strong pipeline of conversions in areas including Cleveland, OH; Pittsburgh, PA; Buffalo, NY; Chattanooga, TN; Portland, OR; Odessa, TX; and Omaha, NE.
- Converted 15 Extended Stay America Suites properties to franchise ownership groups including Capital Insight Holdings, Paragon Hotel Corporation, T3 Capital, L.P., and Wayside Investment Group, maintaining brand presence in key markets.
“In 2023, we experienced exponential growth in franchising interest of Extended Stay America hotels among developers and investors, exceeding our expectations,” said Mark Williams, Managing Director, Franchise Development, Extended Stay America. “Franchisees are recognizing the power of the Extended Stay America brands and leveraging our proven business model as a strong foundation for their hotel investment portfolios. Extended Stay America is committed to continuing its strategic growth from both new construction and conversions. Through franchising growth, we are well-positioned to scale and expand into new markets, while capitalizing on strong business and leisure demand generators for extended stay travel.”
