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LAS VEGAS-To boldly go where it has never gone before is Budget Suites of America's new strategy. Budget Suites, a seven-property extended-stay economy chain, has earmarked $670 million to grow its room supply more than fivefold and enter two new markets-Texas and Arizona-during the next three years.
The Las Vegas-based firm plans to add 55 properties with 19,150 suites by mid-2001, said Robert Bigelow, president. Founded in 1989, family-owned Budget Suites operates 3,716 suites in the Las Vegas metropolitan area.
Budget Suites has plans on the drawing board for 30 extended-stay properties in the Dallas metroplex area, four in San Antonio, three in Austin, Texas, and 18 in Phoenix, Bigelow said. At least 10 projects already are in development in Dallas and Phoenix; the firm won't scout sites in San Antonio and Austin until November or December.
"I like to go into a market and have a dominant presence, and that's...