West End lures Extended Stay America hotel project
Nashville Business Journal - by Philip Nannie Nashville Business Journal
Florida-based Extended Stay America Inc. has broken ground on a four-story, 114-room hotel the first extended-stay hotel in the West End area.
"We think West End is the hottest market in town," says David Simms, construction manager for ESA Inc., the construction and development arm of Extended Stay America (NYSE: ESA) of Ft. Lauderdale, Fla.
The chain purchased the land last month for $1.87 million from a private real estate investment group. The hotel under construction at 3311 West End Ave. will cater to corporate business travelers as well as out-of-town guests who need to be near the conglomeration of hospitals in the West End area. It will be just 200 yards from a competing Marriott Residence Inn which also is slated for construction on West End Avenue.
"Corporate `per diem' people can stay a week at a time," says Simms.
He adds businesses travelers occasionally enjoy eating in, and Extended StayAmerica hotels are outfitted with kitchenettes that give guests access to cooking and eating utensils.
Simms says neighborhood residents had some concerns about the size of the hotel, but those concerns were resolved early in the zoning process. The hotel will have a single entrance located on West End Avenue.
The Extended StayAmerica ran into fewer roadblocks than the planned Marriott Residence Inn.
The Marriott hotel, to be located near the intersection of Murphy Road, was delayed for access reasons but now is scheduled for a final hearing before the Zoning Board July 19. A Shoney's at that location will be torn down to make way for the Marriott. .
Jimmy Alexander, senior planning technician in Metro's Planning Department, says his office has been attempting to get hotels to design buildings so they can be easily accessed on foot. This access issue and the planned size of the Marriott was of concern to the zoning board, contributing to its delay.
Extended Stay America was founded in January 1995 by CEO George D. Johnson Jr. and Chairman Wayne Huizenga.
Huizenga also is board chairman of AutoNation Inc. and formerly was vice chairman of Viacom Inc. and chairman and CEO of Blockbuster Entertainment Corp.
The company already operates Extended StayAmerica locations at 2525 Elm Hill Pike and a second at 9020 Church St. in Brentwood. It also operates a more upscale concept called StudioPlus and a line of economy extended-stay hotels called Crossland.
The company closed the year 2000 with $518 million in sales, up 24 percent from the previous year. Net income for 2000 was $70 million, a one-year growth of 48 percent. The hotel chain's employees total 6,100.
pnannie@bizjournals.com n 615-248-2222 ext. 109
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