For the second year in a row, Extended Stay America, Inc. (NYSE:ESA) has been named one of Fortune magazine`s top 100 fastest-growing companies. Based on its revenue growth, earnings per share and total stock-market return, Extended Stay America, Inc. was ranked 18th on this year`s list, up five positions from its 1999 ranking. The Company was also ranked fifth in earnings per share and 11th in revenue growth and is once again the only lodging company to be named to the top 100 list.
“Our Company was created in 1995 with a goal of rapidly becoming a leading provider of extended-stay lodging in the United States. Being named as a `Top 100` company by Fortune magazine for the second year in a row acknowledges our accomplishments and is exciting news for our investors and our more than 6,000 employees,” said George D. Johnson, Jr., CEO, Extended Stay America, Inc.
Extended Stay America, Inc. has seen unprecedented growth since its 1995 inception. The Company, which has been named a Cornell University Best Practices Champion, currently owns and operates 380 extended-stay lodging hotels in 38 states, which includes 91 StudioPLUS Deluxe Studios, 250 Extended StayAmerica Efficiency Studios and 39 Crossland Economy Studios.
“We are extremely pleased that our products have been well received by the traveling public. We plan to continue to provide great value for our guests, as well as increase our national presence with the opening of our 400th hotel in early 2001,” Mr. Johnson said.
Extended Stay America, Inc. was founded by Mr. Johnson and H. Wayne Huizenga. Mr. Johnson was formerly President of the Consumer Products Division of Blockbuster Entertainment Corp., a division of Viacom, Inc. Mr. Huizenga, who is Chairman of the Board, also is Chairman and Chief Executive Officer of AutoNation, Inc. and formerly was Vice Chairman of Viacom, Inc., and Chairman and Chief Executive Officer of Blockbuster Entertainment Corp.