Extended Stay America, Inc. develops, owns, and operates hotels in the United States and Canada. As of December 31, 2015, the company had 629 hotels with approximately 69,400 consisting of 626 hotels with approximately 68,900 rooms under the Extended Stay America brand; and 3 hotels with 500 rooms under the Extended Stay Canada brand. It serves customers in the mid-priced extended stay segment. Extended Stay America, Inc. was founded in 1995 and is headquartered in Charlotte, North Carolina.
11525 North Community House Road
Charlotte, NC 28277
Founded in 1995
Extended Stay America, Inc. and ESH Hospitality, Inc. Announce Combined Cash Distributions for Second Quarter of 2016, Payable on August 25, 2016
Jul 28 16
Extended Stay America, Inc. and its subsidiary, ESH Hospitality, Inc. announced that their Boards of Directors have declared a combined cash distribution of $0.19 per Paired Share for the second quarter of 2016. This includes a distribution of $0.10 per share payable to ESH Hospitality, Inc.’s Class A and Class B common shareholders and a distribution of $0.09 per share payable to Extended Stay America, Inc.’s common shareholders. These distributions will be payable on August 25, 2016 to shareholders of record as of August 11, 2016.
Extended Stay America, Inc. Reports Unaudited Consolidated Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Earnings Guidance for the Year 2016
Jul 28 16
Extended Stay America, Inc. reported unaudited consolidated earnings and operating results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported total revenues of $332,789,000 compared to $340,311,000 a year ago. Income from operations was $104,712,000 compared to $117,285,000 a year ago. Income before income tax expense was $68,834,000 compared to $82,657,000 a year ago. Net income attributable to common shareholders was $60,729,000 or $0.30 per diluted share compared to $57,983,000 or $0.28 per diluted share a year ago. Adjusted EBITDA was $164,659,000 compared to $171,718,000 a year ago. Comparable hotel adjusted EBITDA was $164,659,000 compared to $163,170,000 a year ago. Adjusted paired share income was $63,033,000 or $0.31 per diluted share compared to $66,773,000 or $0.33 per diluted share a year ago.
For the six months period, the company reported total revenues of $620,347,000 compared to $627,902,000 a year ago. Income from operations was $168,468,000 compared to $187,201,000 a year ago. Income before income tax expense was $86,483,000 compared to $119,491,000 a year ago. Net income attributable to common shareholders was $77,775,000 or $0.38 per diluted share compared to $79,531,000 or $0.39 per diluted share a year ago. Adjusted EBITDA was $287,458,000 compared to $294,576,000 a year ago. Comparable hotel adjusted EBITDA was $287,458,000 compared to $278,896,000 a year ago. Adjusted paired share income was $88,792,000 or $0.44 per diluted share compared to $97,203,000 or $0.48 per diluted share a year ago.
For the quarter, the company reported occupancy of 76.7% compared to 77.1% a year ago. ADR was $67.65 compared to $62.90 a year ago. RevPAR was $51.89 compared to $48.49 a year ago.
For the six months period, the company reported occupancy of 73.1% compared to 73.8 % a year ago. ADR was $66.14 compared to $60.99 a year ago. RevPAR was $48.36 compared to $44.98 a year ago.
The company provided earnings guidance for the year 2016. For the year, total revenues are expected to range from $1.257 billion to $1.272 billion· Comparable Hotel total revenues are expected to increase by approximately 3.25% to 4.50%· Net income is anticipated to range from $162 million to $188 million· Adjusted EBITDA is expected to range from $595 million to $610 million, representing approximately 3.6 % to 6.2% growth over 2015 comparable hotel adjusted EBITDA. · Depreciation and amortization of $215 million to $220 million· Net interest expense of $153 million to $158 million· Effective tax rate is expected to range between 15.0% and 16.0%· Capital expenditures are expected to range from $240 million to $260 million, including $120 to $135 million in hotel renovation capital and approximately $100 million in maintenance capital.
Extended Stay America, Inc. Appoints Kapila Kapur Anand as Independent Director
Jul 8 16
Extended Stay America, Inc. announced that Kapila Kapur Anand has been appointed to its Board of Directors as an independent director. Ms. Anand recently retired from KPMG, where she was a liaison partner with its Audit Committee Institute and served as National Partner-in-Charge, Public Policy Business Initiatives. She also served as KPMG’s segment leader for the Travel, Leisure and Hospitality industry, Chair of the Global Hospitality Network, and as a member of the Global Real Estate Steering Committee. Ms. Anand has served on KPMG LLP Boards in the U.S. and the Americas, the Board of the Franciscan Ministries, and as the chair of both the KPMG Foundation as well as The Chicago Network. She is currently the Lead Director for the Women Corporate Directors Education and Development Foundation, serves as the co-chair of the Financial Management Committee of the American Hotel and Lodging Association, and on a variety of non-profit boards including the US Fund for UNICEF.