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By The Online Investor Staff, updated Sat., Oct. 1, 2:54 PM

Slide #3. Extended Stay America, Inc.

Company: Extended Stay America, Inc. (NYSE:STAY)
Share Amount Authorized: 1,950,000
Buyback Details: In addition, Extended Stay America, Inc. and ESH Hospitality, Inc. announced that they have entered into a share repurchase agreement with the Selling Stockholders pursuant to which they intend to repurchase 1,950,000 Paired Shares directly from the Selling Stockholders. The share repurchase will be effected in a private, non-underwritten transaction at a price per share equal to the price paid by the underwriter in the offering. Extended Stay America, Inc. and ESH Hospitality, Inc. expect to fund the share repurchase from cash on hand. The share repurchase is expected to be consummated concurrently with the offering. Although the share repurchase will be conditioned upon, among other things, the closing of the offering, the closing of the offering will not be conditioned upon the closing of the share repurchase. The share repurchase has been approved by the audit committees of Extended Stay America, Inc. and ESH Hospitality, Inc. and is pursuant to, and will count toward, the Company's existing combined Paired Share repurchase program. Following the closing of the share repurchase, the repurchased Paired Shares will be retired. The timing and method of any future repurchases, which will depend on a variety of factors, including market conditions and the Company's financial condition, are subject to the discretion of management.

Extended Stay America is an owner/operator of company-branded hotels in North America. Co.'s business operates in the extended stay lodging industry. As of Dec 31 2015, Co. owned and operated 629 hotels comprising approx. 69,400 rooms located in 44 states across the U.S. and in Canada. Co. owns and operates the substantial majority of its hotels under its core brand, Extended Stay America, which serves the mid-price extended stay segment. Extend Stay America-branded hotels feature in-room kitchens, free WiFi, free grab-and-go breakfast, flat screen TVs with premium cable channels; and on-site guest laundry.

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Company Name:  Extended Stay America Inc
Stock buyback:  STAY buyback
Sector:  Hotels, Lodging, Restaurants & Travel
Number of ETFs Holding STAY:  17
Total Market Value Held by ETFs:  $20.84M

Open the STAY Page at The Online Investor (in a new window) »

October 1, 2016    2:54 PM Eastern
Quotes delayed 20 minutes

Buy (2.86 out of 4)
39th percentile
(ranked lower than approx. 61% of all stocks covered)
Based on Zacks ABR data;
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