SPARTANBURG, SC— HVM LLC., the operator of Extended Stay Hotels, announced today the acquisition of 16 Sierra Suites Hotels. The properties will immediately be re-flagged Extended Stay Deluxe, a new brand from Extended Stay Hotels. Molinaro Koger advised LodgeWorks in its sale of the assets. The Sierra Suites Hotels included in the purchase are located in Phoenix; Pleasanton and San Jose, CA; Orlando, FL.; Atlanta; Boston; Piscataway, NJ; Washington; and Seattle. The 16 new Extended Stay Deluxe hotels offer enhanced amenities such as larger, more upscale rooms, interior corridors, and expanded in-room TV packages, as well as fully equipped kitchens and guestroom workspaces with wireless Internet access and personalized voicemail. The majority of Extended Stay Deluxe properties also offer amenities such as swimming pools or spas and exercise rooms. Average daily rates at Extended Stay Deluxe hotels start at $59.99 and vary by market. There are currently 21 Extended Stay Deluxe properties throughout the U.S. HVM plans continued expansion of the Extended Stay Deluxe brand throughout 2005, primarily through conversion of existing StudioPLUS hotels and 30 former Wellesley Inn and Suites hotels acquired in October 2004.
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