esh hospitality
Extended Stay America Continues Growth with Addition of More Than 100 Properties
Extended Stay America | August 4, 2022
CHARLOTTE, NC [August 4, 2022]— Extended Stay America announced today that subsidiaries of ESH Hospitality, Inc. are converting more than 100 recently acquired WoodSpring Suites hotels to the Extended Stay America family of brands later this year. “The addition of these properties, when combined with a growing trajectory of franchise properties in our pipeline, solidifies our position as the leader in extended stay,” said Greg Juceam, President and CEO, Extended Stay America. “We will apply our proven focus solely on extended stay guests to these properties and expect to increase overall performance in each of their respective mark...
Blackstone and Starwood Capital Group to Acquire Extended Stay America in $6B Deal
Extended Stay America, Inc. | March 15, 2021
CHARLOTTE, N.C. -- March 15, 2021 -- Extended Stay America, Inc. and its paired-share REIT, ESH Hospitality, Inc. (“ESH” and together with ESA, the “Company”) announced today that it has signed a definitive agreement to be acquired by a 50/50 joint venture between funds managed by Blackstone Real Estate Partners (“Blackstone”) and Starwood Capital Group (“Starwood Capital”) for $19.50 per paired share in an all-cash transaction valued at approximately $6 billion. The $19.50 per paired share consideration represents a premium of 23.3% over the 30-day volume-weighted average share price ending March 12, 2021 and a premium o...
Extended Stay America Opens Newest Location in Ormond Beach, Florida
Extended Stay America® | March 3, 2021
Charlotte, NC — March 3, 2021 — Extended Stay America, Inc. (“ESA”) and ESH Hospitality, Inc. (together, the “Company”), the largest mid-priced extended-stay hotel brand announced today the opening of the Extended Stay America Ormond Beach located in Ormand Beach, Florida. The four-story 124 room property features complimentary Wi-Fi, premium cable, a STAYFIT fitness room, STAYCLEAN laundry room, and our signature spacious STAYPLAY lobby with additional vending options. The rooms include fully equipped kitchens with full-size refrigerators, stovetop, cookware, utensils, and dishes, as well as pillowtop beds, recliners, spacious ...
Extended Stay America Completes Disposition of 32 Hotels to Lodging Advisory Group and Provident Realty Advisors
Extended Stay America | November 1, 2018
CHARLOTTE, N.C. – November 1, 2018 — Extended Stay America, Inc. and ESH Hospitality, Inc. (NASDAQ:STAY) (together, the "Company") today announced the completed sales of 2 portfolios totaling 32 branded Extended Stay America hotels. The Company recently completed the sale of 16 Extended Stay America branded hotels to Lodging Advisory Group, LLC ("LAG"), a hotel owner, developer and asset manager with offices in Wichita, Denver and Phoenix. The hotels acquired by LAG include hotels located in Kansas, Missouri, New Mexico, Nebraska and Arizona. The disposition comes with franchise agreements for each of the 16 hotels. Addition...
Extended Stay America and Three Wall Capital Complete Sale of 25 ESA Hotels to Three Wall Capital Affiliate
Extended Stay America | February 27, 2018
CHARLOTTE, N.C. – February 27, 2018 — Extended Stay America, Inc. and ESH Hospitality, Inc. (NYSE:STAY) (together, the "Company") and Three Wall Capital, LLC today announced the completed sale of 25 Extended Stay America hotels ("ESA hotels") by the Company to an affiliate of Three Wall Capital, LLC. Extended Stay America, Inc. will continue to manage the 25 ESA hotels over a 20 year contract. The 25 hotels represent over 2,400 rooms and are located in Ohio, Kentucky, Indiana and Texas. In conjunction with this transaction, Three Wall Capital, LLC has signed an agreement to build 15 additional ESA hotels over a seven year pe...
Extended Stay America Enters Agreement to Dispose of 47 Crossland Economy Studios for $285 Million
Extended Stay America | September 21, 2015
- $285 million sales price equals nearly 10x Adjusted EBITDA - - Improves portfolio quality and sharpens focus on single brand - - Special distribution expected – - Re-affirms Third Quarter and Full Year 2015 Revenue and Adjusted EBITDA Guidance Ranges - CHARLOTTE, N.C.--September 21, 2015--Extended Stay America, Inc. (NYSE:STAY) (the "Company") announced today that subsidiaries of the Company, including subsidiaries of ESH Hospitality, Inc. ("ESH REIT"), the Company's REIT subsidiary, signed a definitive agreement to dispose of 53 U.S. economy extended-stay hotels and Crossland Economy Studios intellectual property for $285 milli...
Fitch Ratings: Hotel and Lodging Radar Screen
May 19, 2015
Starwood Considering Strategic Alternatives: Starwood Hotels & Resorts and Host Hotels & Resorts discussed options to create shareholder value that could potentially include creditor unfriendly strategies during their respective 1Q15 earnings conference calls. Starwood indicated that "no options are off the table" as part of a formal review of the company's strategic and financial alternatives it will undertake to increase shareholder value. Fitch views the most likely outcomes as a transformative merger (with Starwood likely the target) or brand acquisition. Real estate private equity funds are also awash in cash and could cons...
