Fortune Magazine Names Extended Stay America, Inc. One Of The Country`s Fastest Growing Companies Fo

15th Aug 2001

For the third year in row, Extended Stay America, Inc. (NYSE:ESA) has been named one of FORTUNE magazine`s top 100 fastest-growing companies. The Company, which FORTUNE ranked 51st overall, is once again the only lodging company named to the top 100 list, as well as one of only fifteen to make the list three years in a row.

“We`re pleased to have been named to the list for the third year in a row. It`s unusual for a hotel company to achieve such a high rate of growth. This is testimony to the great work of our 6500 employees, our incredible management team, an innovative concept and the outstanding value of our product,” said George D. Johnson, Jr., CEO, Extended Stay America, Inc.

Extended Stay America has enjoyed explosive growth since its founding in 1995 and is the fastest growing owned and operated hotel company in U.S. history. The Company currently owns and operates 410 extended-stay lodging hotels in 39 states, which includes 94 StudioPLUS Deluxe Studios, 277 Extended StayAmerica Efficiency Studios and 39 Crossland Economy Studios facilities. In addition, the Company has 37 hotels under construction that are expected to open within the next twelve months.

“Our access to capital has allowed us to continue building our hotels, gain market share and provide an outstanding low price/high value product to the traveling public. We look forward to continuing our record of growth and success,” said Bob Brannon, President and Chief Operating Officer, Extended Stay America, Inc.




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