The decision to relocate from leased space at 450 E. Las Olas Blvd. apparently came about fairly recently. In an annual shareholders report released in March, the company described those office facilities as sufficient to meet its operating needs.
In a review of its long-term office needs, however, company officials say many of the leases on the property it leased in Fort Lauderdale were due to expire at year's end.
Entrepreneur H. Wayne Huizenga and George D. Johnson Jr., Extended Stay's CEO, co-founded the company in 1995. Johnson and his brother own a real estate development company in Spartanburg where Johnson previously practiced law. He served three terms in the South Carolina House of Representatives.
Of the 392 hotels it owned as of Dec. 31, Extended Stay operated nine in South Carolina and 26 in neighboring North Carolina. It operates 18 hotels in Florida, but only eight South Florida. Besides the Extended Stay America brand, the company also operates under the StudioPlus and Crossland Economy Studios flags.
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