Extended Stay America Extends its Baltimore Presence

BALTIMORE-With an eye on anticipated future demand for extended-stay destinations, Spartansburg, SC-bases hotel chain Extended Stay America Inc. has decided to open up three hotels in the Baltimore region. The 100-room properties will occupy two- to three-acre parcels of land in Bel Air, Columbia, and Glen Burnie, MD, all of which are within 10 to 20 miles of Baltimore. Extended Stay has not disclosed how much it will spend to develop the three-story hotels. However, HVS International’s Hotel Development Cost Survey for 2003 indicates that the median development cost per-room at an extended-stay hotel is $92,600, or nearly $9.3 million for an entire 100-room property.

“Extended Stay America has accelerated its expansion program in the Baltimore metropolitan area in response to the strong and steady growth in this market, and were seeking strategic locations within close proximity to major business communities,” says Patrick A.M. Miller of NAI KLNB, the real estate services firm that helped Extended Stay select the locations. “By choosing sites in three different counties, the company has significantly improved its coverage in this region.”