HVM's guests need not worry about wearing out their welcome. The company manages under contract some 685 Extended Stay hotels throughout the US and Canada. Extended Stay brands include Extended Stay Deluxe, Extended Stay America, Homestead Studio Suites, Crossland Economy Studios, and Studio Plus Deluxe Studios. A hybrid between a hotel and an apartment, its lodgings offer all-suite accommodations targeting business and leisure travelers looking for a temporary place to call home. The rooms feature separate living and dining areas and fully-equipped kitchens. Extended Stay can charge lower rates than hotels by eliminating room service and daily maid services.
In 2011 HVM announced that it is moving its headquarters from Spartanburg, South Carolina to Charlotte, North Carolina. It cited North Carolina's position as a major, national market and transportation hub as a reason behind the move. As part of the announcemnet, HVM also stated that it will create 170 jobs during the next three years and invest $3.6 million into its new building. The new headquarters will provide administrative support including human resources, facility maintenance, financial administration, advertising and marketing, guest services, training, and legal services.
Though it is closely affiliated with Extended Stay, HVM is a separately-owned company. In 2009 the debt-ridden Extended Stay filed for Chapter 11 as a result of a drastic decrease in corporate and leisure travel brought on by an economy in peril. HVM wasn't involved in the filing, and all hotels remained open and operating during the restructuring process. In 2010 Extended Stay exited bankruptcy. Terms of the restructuring plan included a $3.9 billion acquisition by a consortium formed by Blackstone Group, Centerbridge Partners, and Paul & Co. HVM continues to manage the Extended Stay portfolio of properties after the change in ownership
HVM was incorporated in 1997, and has managed Extended Stay hotels since the 2004 merger of Extended Stay America Inc. and Homestead Studio Suites. – less