The company had 383 facilities in operation at the close of itslatest reporting period and another 23 under construction. Itsflags include Extended Stay Efficiency Studios and CrosslandEconomy Studios.
In a prepared statement, company CEO George D. Johnson Jr.explained the decision to beef up expansion plans was made despitegeneral cutbacks by competitors in its lodging niche.
"The existing capacity under our credit facilities, combinedwith substantial internally generated cash flows, position us toincrease our development and market share," Johnson says.
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