SPARTANBURG, SC-Now that Centerbridge Partners, LP has come out the winner in the auction to take Extended Stay, Inc. out of bankruptcy protection, after offering $3.93 billion for the hotel chain, “the company will have a clearer direction and get back to normal, (with regard to) strategic planning for stabilization, growth and marketing,” says Frank Nardozza, CEO of REH Capital Partners, LLC, a real estate and hotel investment advisory firm based in Ft. Lauderdale. “Over the last year, the future direction of the hotel chain was in flux,” awaiting bankruptcy restructuring. “Now, executives in charge can know the chain’s financial structure and what capital will be available to continue growth in the company,” he says.

Early last Friday morning, the investor consortium, which includes Paulson & Co. and the Blackstone Group, bested its rival for Extended Stay, a group led by Starwood Capital Group, which offered $3.88 billion for the hotel chain. J.P. Morgan Chase & Co. and Deutsche Bank AG are important backers of the Centerbridge bid, sources told the Wall Street Journal last week.

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