The Real Deal Miami

Return to lenders pondered for Extended Stay Hotels

December 09, 2008 01:01PM

Extended Stay Hotels, formerly headquartered in Fort Lauderdale, is in
early talks about turning ownership over to its lenders, a sign of
weakening commercial real estate. The company, now based in
Spartanburg, S.C., has 18 hotels in South Florida. People involved in
the talks say a transfer of ownership could come within a month or two,
the Wall Street Journal reported.