Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.