Oakwood Acquires Marriott's ExecuStay
 

Received this morning:

To our valued clients,

We are excited to announce that Oakwood has reached an agreement with Marriott International to acquire Marriott's ExecuStay corporate and temporary apartment housing business, while also entering into a long-term reciprocal preferred provider agreement with Marriott.

The acquisition of ExecuStay expands our footprint and enhances our ability to provide innovative solutions that align with your needs. Oakwood and ExecuStay clients and guests will now benefit from the best of both brands' customer service and amenities. Oakwood will market ExecuStay as a separate offering and ExecuStay guests will continue to earn Marriott Rewards Points for stays in ExecuStay apartments.

We are committed to delivering the superior level of service that you've come to expect from our companies and have worked hard to ensure a smooth transition with no impact to our current guests or upcoming reservations. The transaction is expected to close by the end of April, for now it is business as usual as each company will continue to operate independently until that time. Once the acquisition is complete, both Oakwood and ExecuStay will work in partnership to develop the best go forward strategy for our clients, guests and the combined organization.

Please refer to the press release and frequently asked questions for additional information. As we progress towards closing and more information is publicly available, we'll be sure to keep you informed. In the meantime, please don't hesitate to contact us should you have any questions or concerns, or would like to further discuss how this can enhance your current relationship with Oakwood.

On behalf of our founder and chairman, Howard Ruby, and all Oakwood associates, we'd like to say we are grateful to clients like you, who have helped build Oakwood into the corporate and serviced apartment housing leader that it is today. We look forward to continuing to build our relationship and helping meet your future needs.