Extended Stay Opens Up 15th Virginia Hotel

SPRINGFIELD, VA-Spartanburg, SC-based hotel chain Extended Stay America Inc. has swung open the doors to its newest property, a 126-room Extended StayAmerica Efficiency Suites here. Located near the intersection of I-495 and I-95 at 6800 Metropolitan Center Dr., the new facility marks the company’s 15th locale in the state. “The extended-stay lodging market is the fastest growing segment of the hotel industry,” says company CEO George D. Johnson Jr., “and is quickly catching the interest of business professionals, people relocating and those on extended work assignments.”

Extended Stay has not released the development cost for the new five-story hotel; however, hospitality consulting organization HVS International’s 2003 Hotel Development Cost Survey shows that the average extended-stay hotel costs about $111,500 per-room to develop, so the new Extended Stay hotel could have carried a price tag of $14 million. With the development of the Springfield hotel, Extended Stay increases its national portfolio to 473.