ESA adds seven properties through TWC deal

George Sell George Sell Uploaded 22 November 2020

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US: Extended Stay America has added seven properties to its portfolio through conversions, bringing the total number of hotels in its system to 647.

The properties are owned by the New York-based Three Wall Capital (TWC) and will be operated by Aimbridge Hospitality.

The hotels are located in Virginia Beach, Newport News, Richmond-Glen Allen, and Chantilly-Dulles in Virginia; Atlanta-Norcross and Atlanta-Northlake in Georgia; and in Elgin-West Dundee in Illinois.

“We are extremely excited to be announcing the addition of seven conversions into the ESA brand,” said Judi Bikulege, CIO at Extended Stay America. “These new ESA locations continue our strategy of growing the ESA portfolio through franchising and the opportunity to do so through conversions of existing hotels as well as new construction. We look forward to continuing to work with Three Wall Capital and Aimbridge, as well as all of our current and prospective owners to continue growing our brand throughout the United States.”

TWC was the first Extended Stay America franchisee through the acquisition of 25 existing ESA hotels across the Midwest and Texas. “We viewed this acquisition not only as an opportunity to acquire strategically located assets and grow our extended-stay portfolio, but we were also thrilled to be able to work with ESA and build upon our strong existing relationship,” said Alan Kanders, managing member and founder, Three Wall Capital. “The strength of the ESA brand and the support of the ESA and Aimbridge teams helped us complete this transaction in the midst of the COVID-19 pandemic.”

TWC engaged Aimbridge Hospitality as the third-party manager of the portfolio. “Our extended stay team is excited to manage this exceptional collection of properties, and to continue to grow our partnership with Three Wall Capital and Extended Stay America,” said Mike Deitemeyer, global president of Aimbridge Hospitality. “Our deep understanding of extended stay properties, along with our vertical specialists who understand the nuance of operating this category, is a tremendous advantage to owners and in driving each property’s market success.”

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