"We are excited about the executive team and staff in our restructured company. They have a focused mission to grow and serve our franchise family," said Bill Bowen, Board Member and President of the Suburban Lodge Franchise Association. "This transaction will lead Suburban Lodge into the future as a franchisor of choice," said Kevin Lewis, President of Suburban Franchise Systems. "We are building the first franchisee-owned company and we will continue to franchise throughout the United States."

Suburban Lodge was the first extended-stay hotel concept to launch in the economy segment more than fifteen years ago and quickly became known for its great rates and kitchens. In addition to providing guests exceptional quality and service, the properties include fully furnished guestrooms with complete kitchens and several other amenities, all at a thrifty price. Furthermore, Suburban Lodge hotels historically operate with above-segment performance within the economy extended stay category.

"This proposition is the first of its kind in the hotel community. As a franchisee-owned company, we understand what franchisees need to be successful," said Bill Hargett, SFS Board Member. "What makes us unique is that Suburban Franchise Systems will provide unparalleled support and services as well as dividends to its franchisees."

In a simultaneous transaction, the corporate owned Suburban Lodges have been acquired in a merger of Suburban Lodges of America, Inc. and a subsidiary of InTown Suites Management, Inc.