Extended Stay gets shorter-than-requested exclusivity extension

By Lisa Kerner

Charlotte, N.C., May 13 - Extended Stay Inc.'s exclusive periods to file a plan of reorganization and solicit votes on the plan were extended to Sept. 16 from May 31, according to an attorney close to the case.

The company had asked the U.S. Bankruptcy Court for the Southern District of New York to extend the period to Sept. 30.

According to the Extended Stay's original motion, its auction will be held on May 27 and the hearing on its disclosure statement is scheduled for June 17.

As a result, Extended Stay said the plan vote solicitation process cannot begin until at least several weeks after May 31.

Extended Stay, a New York-based owner and operator of mid-priced extended stay hotels, filed for bankruptcy on June 15, 2009. Its Chapter 11 case number is 09-13764.

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