Extended Stay America has signed an agreement with Concord Hospitality and Whitman Peterson to develop 15 of its Premier Suites-branded hotels.
The deal will add Premier Suites hotels to major markets in Western U.S. states, including Denver, Colorado; Phoenix, Arizona; Las Vegas, Nevada; and Salt Lake City, Utah, according to a news release.
Concord will oversee the development, branding and operations of the properties. Whitman Peterson is a private real estate equity company.
"These new Extended Stay America Premier Suite locations continue our strategy of growing this brand and our franchise pipeline,” ESA President and CEO Greg Juceam said in the news release. “We look forward to working with Concord Hospitality and Whitman Peterson as they develop the hotels in these markets."
The Premier Suites brand has a unique business model that will allow Concord to reach business and corporate extended-stay travelers who are looking for a higher set of amenities, Concord CEO and President Mark Laport said in the release.
"This agreement is the first step in increasing our presence in the higher-end, extended-stay segment,” he said.
ESA launched the midscale Extended Stay America Premier Suites brand in February 2021. It has 28 properties currently open and operating. The brand has both new construction as well as renovated converted properties with upgraded amenities and designs, including fully equipped kitchens and apartment-style layouts.
More recently, ESA launched its new economy brand, Select Suites, with plans to convert 100 WoodSpring Suites-branded, extended-stay hotels acquired by the brand company’s owners, Blackstone and Starwood Capital, for $1.5 billion in February from Brookfield Asset Management. Blackstone and Starwood closed on their deal to buy ESA for $6 billion in June 2021, taking the then-publicly traded company private.