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Extended Stay America Inc

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CALIFORNIA | LOCAL
June 27, 2000
Extended Stay America Inc. has opened a three-story Extended Stay America Efficiency Studios brand hotel at 20205 Ventura Blvd. in Woodland Hills. The 146-room hotel is the company's 13th property in the Los Angeles area, its 34th hotel in the state and its 375th property overall. The company is based in Fort Lauderdale, Fla.
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BUSINESS
March 6, 2004
* An Illinois state judge dismissed a $7-billion lawsuit by Matthew and Liesel Pritzker, who claimed they were cheated out of their inheritance by other members of the family that owns the Hyatt Corp. hotel chain. The siblings have 28 days to file an amended complaint. * Hotelier Extended Stay America Inc. said it had agreed to be acquired by New York private equity firm Blackstone Group for more than $1.9 billion. * Standard & Poor's cut its credit rating on Sun Microsystems Inc.
BUSINESS
January 18, 1997 | Times Staff and Wire Reports
Extended Stay America Inc. said it will buy Studio Plus Hotels Inc. for $290 million in stock, almost doubling billionaire H. Wayne Huizenga's holdings in extended-stay hotels. The agreement values Studio Plus at $22.86 a share, based on Thursday's closing price for Extended Stay. Lexington, Ky.-based Studio Plus shares rose $5.125 to close at $19.875 on Nasdaq. Fort Lauderdale, Fla.-based Extended Stay shares lost $1.625 to close at $17, also on Nasdaq.
CALIFORNIA | LOCAL
May 1, 1997 | ENRIQUE LAVIN
Hoping to answer residents' questions about the development proposed for some of Bixby Ranch Co.'s property in north Seal Beach, the City Council has scheduled a public forum Monday at City Hall. Residents from College Park East--a neighborhood north of the Seal Beach Naval Weapons Station and east of the Bixby property--have been wary that any development would change the character of their community. Bixby Ranch has put about 23 acres of commercially zoned property on the market.
BUSINESS
November 10, 2005 | From Bloomberg News
Private equity firm Blackstone Group said Wednesday that it agreed to acquire La Quinta Corp. for $2.28 billion, its third hotel purchase this year. La Quinta adds a mid-priced chain to Blackstone's roster of luxury hotels, resorts and extended-stay properties. Blackstone this year bought Wyndham International Inc. for $1.44 billion and the Rihga Royal Hotel in New York for an undisclosed amount. Last year it purchased Extended Stay America Inc. and Prime Hospitality Corp.
BUSINESS
July 9, 2009 | W.J. Hennigan
Los Angeles commercial real estate continues to spiral downward, according to a report released Wednesday by Real Capital Analytics Inc. The New York-based real estate research firm found that Los Angeles had $4.5 billion in troubled commercial properties at the end of June. In all, 263 properties are in default, foreclosure or bankruptcy, the firm reported. At the beginning of the year there were 113, a 133% increase.
BUSINESS
January 21, 1998 | MELINDA FULMER, SPECIAL TO THE TIMES
Shifting employment patterns are driving a boom in extended-stay hotel construction throughout Southern California as skilled workers travel to meet short-term needs in such growing fields as entertainment and technology. Demand for these so-called knowledge workers is behind the development of hotels catering to business travelers who need to hunker down for weeks at a time.
BUSINESS
April 10, 1997 | ANGELA STEPHENS, SPECIAL TO THE TIMES; Angela Stephens is a freelance writer based in Cupertino
Boosted by its booming high-tech industry, the Silicon Valley--and San Jose in particular--has become one of California's hottest hotel markets, and developers are beginning to cash in on the momentum. After suffering in the nationwide hotel industry slump in the early 1990s, San Jose has recovered strongly. Local hotels are bustling with weekday business travelers.
BUSINESS
February 25, 1997 | JAMES F. PELTZ
The lodging industry is being roiled with blockbuster merger activity, namely Hilton Hotels Corp.'s (ticker symbol: HLT) hostile $6.5-billion bid for Sheraton owner ITT Corp. (ITT), and Marriott International Inc.'s (MAR) pact to buy Renaissance Hotel Group (RHG) for $947 million. Although more deals are likely, investors mulling lodging stocks today shouldn't count on mergers to justify their picks, analysts say.
BUSINESS
October 14, 1997 | JAMES F. PELTZ
It's every investor's dream to get in early on the next Xerox, the next Microsoft. Is such a stock on the list to the right? The list shows those companies expected to report the greatest profit gains, on a percentage basis, over the next three to five years. When you hear Wall Streeters talk about "growth" stocks, they're talking about issues like these. The stocks are ranked by how much their earnings per share are expected to rise, as forecast by at least five securities analysts.
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