david lichtenstein

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Starwood Capital Shows Interest In Extended Stay Hotels

Its been awhile since if written anything – but I think its time to start up again.
Today’s big story (in my mind at least) is a Wall Street Journal article today that brought to light Starwood Capital’s new found interest in the Extended Stay bankruptcy battle. (I’m writing this directly from my blackberry so I [...]

Sep. 30, 2009 | Andrew Calvo | 0 comments | Continued
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Extended Stay Hotels Files For Bankruptcy

Extended Stay Hotels filed for Chapter 11 bankruptcy yesterday – ending speculation of when or if banks were going to force ESH’s owners, The Lightstone Group to surrender the properties. All in all, this just goes to show how banks were willing to finance almost anything during the highs of the markets.

Jun. 16, 2009 | Andrew Calvo | 2 comments | Continued
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Lightstone Has Been Down The Foreclosure Path Before

With news of The Lightstone Group possibly losing Extended Stay Hotels to the banks, it turns out that Lightstone has been down this route before with some of their other holdings.

Jan. 6, 2009 | Andrew Calvo | 1 comment | Continued
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Wall Street Journal Wrong About Lightstone? I Don’t Think So.

Extended Stay Hotels released a statement reiterating their current financial situation is fine – but not completely disputing the future money issues which the brand may experience as the WSJ had reported. Is Extended Stay trying to hide the truth by not really lying?

Dec. 15, 2008 | Andrew Calvo | 0 comments | Continued
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Lightstone To Lose Extended Stay, So What Happens Next?

Looks like Lightstone Group may lose their Extended Stay Hotels to the banks. After purchasing the brand in 2007 for $8 billion with only $1 billion down, the economic downturn might not allow them to continue making debt payments and the banks want to prevent bankruptcy.

Dec. 8, 2008 | Andrew Calvo | 6 comments | Continued