Friday, October 15, 2010

Extended Stay Hotels Files Chapter 11

Image: Extended Stay Hotels

The AP this morning reported that Extended Stay Hotels, LLC, owned by the Lightstone Group (one of the nation’s biggest private real estate companies), filed for Chapter 11 bankruptcy protection today. Extended Stay runs more than 650 hotels in the US and Canada, according to the AP. All Extended Stay brands, Homestead Studio Suites, StudioPLUS Deluxe studios, and Crossland Economy Studios are affected.

Why not just retool the slogan? “Extended Stay: Your Post-Foreclosure Home Away from Home.” The chain could turn into a sort of halfway house for people kicked out by the bank. The business traveler meme is so 2004.