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Extended Stay America, Inc.
Formerly called
Extended Stay Hotels
Type
Public
Traded as NYSE: STAY
Industry Hotels
Founded January 9, 1995 (1995-01-09) in Fort Lauderdale, Florida
Founders
  • Wayne Huizenga
  • George D. Johnson, Jr.
Headquarters Charlotte, North Carolina, United States
Number of locations
629 hotels (2015)
Area served
North America
Key people
Gerardo I. Lopez (CEO)
Jonathan S. Halkyard (CFO)
Revenue Increase US$1.3 billion (2015)
Operating income
Increase US$500.1 million (2015)
Net income
Increase US$283.0 million (2015)
Total assets Increase US$4.5 billion (2015)
Total equity Increase US$1.5 billion (2015)
Number of employees
8,500
Website www.extendedstayamerica.com

Extended Stay America, Inc. is the operator of an economy, extended-stay hotel chain consisting of 629 properties in the United States and Canada. It is listed on the New York Stock Exchange as a "paired share" with the real estate investment trust ESH Hospitality, Inc., the owner of the hotels. Extended Stay America is headquartered in Charlotte, North Carolina.

Extended Stay America was founded on January 9, 1995 in Fort Lauderdale, Florida by a George D. Johnson, Jr. and Wayne Huizenga, both former executives from Viacom and its subsidiary Blockbuster. The first two Extended Stay America hotels opened in August 1995 in Spartanburg, South Carolina and Marietta, Georgia. The company was listed on the NASDAQ on December 14, 1995. Extended Stay America acquired the extended-stay hotel chain StudioPLUS on April 11, 1997. The company also developed the Crossland Economy Studios brand as a budget, extended-stay hotel compared the mid-priced StudioPLUS and economy Extended Stay America brands. In 2013, the company moved its headquarters from Spartanburg to Charlotte, North Carolina.

The Blackstone Group, a private equity firm, acquired Extended Stay America in May 2004 for a total cost of US$3.1 billion in cash and debt. At the time of the merger, Extended Stay America operated 475 hotels; Blackstone increased that number with the addition of 132 from Homestead Studio Suites. Homestead, which was founded by Security Capital in 1992, had been acquired by Blackstone in November 2001 for US$740 million. All of Blackstone's extended-stay hotels—consisting of the Crossland, Extended Stay America, Homestead, StudioPlus, and, eventually, Extended Stay Deluxe brands—were managed together by Extended Stay Hotels.

Blackstone sold Extended Stay Hotels in June 2007 to the Lightstone Group for US$8 billion. The deal, financed with US$7 billion of debt, was one of several multibillion-dollar hotel and casino sales made that year. On June 15, 2009, Extended Stay America filed for bankruptcy protection under Chapter 11. After the Great Recession decimated leisure and business travel, Extended Stay faced shortages in liquidity stemming from the leveraged buyout by Lightstone two years before. Through debtor-in-possession financing, it was able to continue operating rather than to face liquidation.

In July 2010, an investment consortium made up of Blackstone, Paulson & Co., and Centerbridge Partners bought Extended Stay America through a bankruptcy auction for US$3.93 billion. After its successful reorganization, Extended Stay America emerged from bankruptcy in October 2010. A year after the bankruptcy, Blackstone was sued by creditors of Extended Stay America alleging that Blackstone "skimmed" US$2.1 billion off of the sale to Lightstone and knew that the amount of debt would have been unsustainable for the hotel chain; Blackstone settled the lawsuit in June 2013 for US$10 million.

In 2013, Blackstone filed for initial public offerings (IPO) for Extended Stay America and another hotel company it owned, Hilton Worldwide.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q2 2021 2021-08-09 Future report Set alerts
Q1 2021 2021-05-10 0.04 0.04
Q4 2020 2021-02-25 0.16 0.16
Q3 2020 2020-11-09 0.00 0.00
Q2 2020 2020-08-10 -0.04 -0.05
Q1 2020 2020-05-06 0.07 0.04
Q4 2019 2020-02-26 0.14 0.13
Q3 2019 2019-11-06 0.33 0.28
Q2 2019 2019-08-06 0.32 0.32
Q1 2019 2019-05-01 0.16 0.15

Ratings

2016-06-26 Reiterated Rating Deutsche Bank Buy
2016-06-26 Reiterated Rating Deutsche Bank AG Buy
2016-06-06 Reiterated Rating Nomura Buy $20.00
2016-06-06 Reiterated Rating Nomura Holdings Inc. Buy $20.00
2016-06-04 Reiterated Rating Deutsche Bank Buy
2016-05-20 Reiterated Rating Bank of America Neutral $17.00 to $15.00
2016-05-20 Reiterated Rating Bank of America Corp. Neutral $17.00 to $15.00
2016-04-27 Boost Price Target MKM Partners Neutral $15.00 to $17.00
2016-04-26 Reiterated Rating Morgan Stanley Hold
2016-02-29 Lower Price Target Barclays Overweight $23.00 to $21.00
2016-02-29 Lower Price Target Barclays PLC Overweight $23.00 to $21.00
2016-02-26 Reiterated Rating Nomura Buy $16.00
2016-02-26 Reiterated Rating Macquarie Outperform $25.00
2016-02-17 Upgrade Bank of America Underperform to Neutral $14.00 to $15.00
2016-02-16 Lower Price Target Robert W. Baird $22.00 to $18.00
2016-02-16 Lower Price Target Morgan Stanley $16.00 to $15.00
2016-02-08 Lower Price Target Nomura $18.00 to $16.00
2016-01-29 Lower Price Target Susquehanna Neutral $22.00 to $14.00
2016-01-14 Downgrade MKM Partners Buy to Neutral $24.00 to $16.00
2015-11-25 Reiterated Rating MKM Partners Buy $24.00
2015-11-16 Lower Price Target Robert W. Baird Outperform $24.00 to $22.00
2015-10-28 Boost Price Target Deutsche Bank Buy $25.00 to $26.00
2015-10-28 Boost Price Target Susquehanna Neutral $22.00
2015-10-26 Lower Price Target Nomura Buy $25.00 to $23.00
2015-08-28 Reiterated Rating MKM Partners Buy $24.00
2015-08-15 Reiterated Rating Barclays Overweight
2015-08-03 Upgrade Robert W. Baird Neutral to Outperform $23.00
2015-07-31 Reiterated Rating Deutsche Bank Buy $24.00 to $25.00
2015-07-23 Reiterated Rating Deutsche Bank Buy $24.00
2015-07-21 Lower Price Target Bank of America Neutral to Underperform $23.00 to $20.00
2015-07-08 Initiated Coverage Lebenthal Hold $19.00
2015-05-05 Boost Price Target Susquehanna Neutral $21.00 to $23.00
2015-04-07 Initiated Coverage Nomura Buy
2015-03-04 Boost Price Target MKM Partners Buy $23.00 to $24.00
2015-02-27 Reiterated Rating Deutsche Bank Buy $23.00 to $24.00
2014-12-16 Initiated Coverage JMP Securities Market Perform
2014-12-01 Downgrade JPMorgan Chase & Co. Overweight to Neutral $27.00 to $20.00
2014-11-10 Lower Price Target MKM Partners Buy $32.00 to $23.00
2014-08-26 Reiterated Rating Barclays Overweight $29.00 to $28.00
2014-08-18 Lower Price Target JPMorgan Chase & Co. Overweight $28.00 to $27.00
2014-02-27 Boost Price Target Susquehanna $23.00 to $27.00
2014-01-10 Initiated Coverage Macquarie Outperform $29.00
2013-12-24 Initiated Coverage Deutsche Bank Buy
2013-12-23 Initiated Coverage Barclays Overweight
2013-12-23 Initiated Coverage Bank of America Buy
2013-12-23 Initiated Coverage Stifel Nicolaus Hold
2013-12-23 Initiated Coverage Goldman Sachs Neutral
2013-12-23 Initiated Coverage Robert W. Baird Neutral $23.00
2013-12-23 Initiated Coverage Citigroup Inc. Neutral to Neutral $28.00 to $23.00
2013-12-23 Initiated Coverage JPMorgan Chase & Co. Overweight $29.00
2013-12-03 Initiated Coverage MKM Partners Buy $32.00
2013-11-15 Initiated Coverage Susquehanna Neutral
2016-06-26 Reiterated Rating Deutsche Bank Buy
2016-06-26 Reiterated Rating Deutsche Bank AG Buy
2016-06-06 Reiterated Rating Nomura Buy $20.00
2016-06-06 Reiterated Rating Nomura Holdings Inc. Buy $20.00
2016-06-04 Reiterated Rating Deutsche Bank Buy

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Centerbridge Associates, L.P. 9.25%  (18926592) STAY /
PAULSON & CO INC 4.81%  (9836590) CIE / DXM / HMHC / NCQ / NG / OSG / SGYP / STAY /
Centerbridge Credit Partners General Partner, L.P. 1.74%  (3564824) STAY /
Centerbridge Credit Partners, L.P. 1.74%  (3564824) BALT / HERO / MPO / STAY /
LOPEZ GERARDO I See Remarks 0.46%  (936633) AMC / CBG / EAT / STAY /
Halkyard Jonathan S See remarks 0.20%  (399570) CZR / PLAY / STAY /
SEDDON TOM See Remarks 0.14%  (278172) STAY /
GEOGA DOUGLAS GERARD 0.07%  (139426) KMPR / STAY /
Bardenett Thomas See Remarks. 0.07%  (138652) STAY /
BUOY M THOMAS See Remarks 0.07%  (137319) STAY /
WALLMAN RICHARD F 0.06%  (119558) CRL / CVG / ROP / STAY / TRNX /
HENRY KEVIN A See Remarks 0.05%  (105578) LNCE / STAY /
Flynn Ames See Remarks 0.03%  (57103) STAY /
Mendy Simon See Remarks 0.03%  (55852) STAY /
Alderman James G See Remarks 0.03%  (53966) STAY /
Kussell William A 0.02%  (49898) STAY /
Dent John See Remarks 0.02%  (39609) STAY /
Blackstone Real Estate Partners VI.A-ESH L.P. 0.01%  (29321) STAY /
Blackstone Real Estate Associates VI-ESH L.P. 0.01%  (29321) BX / STAY /
Weissman Howard J See Remarks 0.01%  (28191) CCG / STAY /
Clarkson David See Remarks 0.01%  (21659) STAY /
Anand Kapila K 0.01%  (14083) STAY /
DONALD JAMES See Remarks 0.01%  (14000) STAY /