Showing Results for tag: Extended Stay America
ESA faces shareholder lawsuit
US: Extended Stay America is facing a lawsuit from one of its shareholders, a Michigan pension fund, after its recent sale.
ESA launches Premium Suites brand with 25 properties
US: Extended Stay America has assigned 25 "new or completely renovated" properties to its new higher price point brand.
ESA acquisition financed by mega-loan
US: Blackstone and Starwood Capital have part funded their acquisition of Extended Stay America with a $4.65 billion loan.
Extended Stay America sale gets the green light
US: Blackstone and Starwood Capital Group’s $6.3 billion acquisition of Extended Stay America has been approved by shareholders.
ESA suitors raise their offer ahead of shareholder vote
US: Blackstone Real Estate Partners and Starwood Capital Group have increased their offer to purchase Extended Stay America to $20.50 per share, $1 per share more than their initial offer.
ESA director nominees go public against proposed $6 billion sale
US: Three directors who have been nominated to the board at Extended Stay America Inc by said on Tuesday that a proposed sale undervalues the company and they can help create value as board members if the company remains independent.
ESA comes out fighting against shareholder sale objections
US: Extended Stay America has written to shareholders, addressing what it calls "misleading and highly flawed arguments" against the sale of the company.
ESA reveals Q1 results ahead of June vote
US: Extended Stay America has announced a 2.5 per cent year-on-yer decline in revenue in its consolidated results for Q1 2021.
ESA shareholder vote set for June 8
US: Extended Stay America set June 8 as the date for a shareholder vote on its $6 billion acquisition by a 50/50 joint venture between Blackstone Real Estate Partners and Starwood Capital Group.
Two ESA directors are against $6 billion sale to Starwood Capital and Blackstone
US: Two directors of Extended Stay America's real estate trust board are against the company's proposed sale, according to an SEC filing.
Shareholder opposition to ESA sale grows
US: Several major shareholders in Extended Stay America have expressed their opposition to the proposed sale of the company to a Starwood Capital/Blackstone JV.
Blackstone and Starwood Capital JV to acquire Extended Stay America for $6 billion
US: A 50/50 joint venture between funds managed by Blackstone Real Estate Partners and Starwood Capital Group have signed a definitive agreement to acquire Extended Stay American for $19.50 per share in an all-cash transaction valued at $6 billion.
ESA reports $65.7 million net income for Q4 2020
US: Extended Stay America Inc. and ESH Hospitality Inc. reported net income of $65.7 million for Q3 2020, on total revenue of $259.3 million.
ESA launches Premier Suites brand
US: Extended Stay America has announced the launch of Extended Stay America Premier Suites, a new brand with a higher price point than its existing portfolio.
ESA adds three conversion properties in Oklahoma
US: Extended Stay America has added three properties in Oklahoma through franchise conversions.
ESA sells California property
US: Extended Stay America has sold an extended stay hotel in Milpitas, California, for $65 million.
ESA adds seven properties through TWC deal
US: Extended Stay America has added seven properties to its portfolio through conversions, bringing the total number of hotels in its system to 647.
US extended stay continues to outperform wider hotel sector
US: The extended stay hotel sector has reported a bigger growth in occupancy than the hotel sector as a whole, with economy extended stay occupancy for Q3 2020 down just 0.8 per cent compared to the same period in 2019.
Aimbridge takes over management of 16 ESA properties
US: Aimbridge Hospitality has added 16 Extended Stay America properties to its portfolio, and now manages 36 properties for the brand, with more in the pipeline.
Clarkson appointed CFO at Extended Stay America
US: Extended Stay America has appointed David Clarkson as chief financial officer.
Extended Stay America encourages voter registration
US: Extended Stay America has joined the STAY Counted campaign, an initiative to encourage voter registration and participation in the November US presidential election
Starwood Capital highlights performance of extended stay sector
US: Starwood Property Trust CEO Barry Sternlicht says the company's chain of extended stay hotels has been running at 85 per cent average occupancy rates during the coronavirus crisis.
ESA appoints Williams to franchising role
US: Extended Stay America has appointed Mark Williams as managing director, franchise development.
ESA launches STAY Confident safety initiative
US: Extended Stay America has launched the STAY Confident initiative to focus on "the health, safety, and comfort of its guests".
ESA opens first franchise new-build property
US: Extended Stay America has opened its latest property, in Colonial Heights, Virginia.
ESA opens South Carolina property
US: Extended Stay America has opened a 120-key hotel in Bluffton, South Carolina.
Blackstone and Starwood Capital Group secure stakes in Extended Stay America
US: Real estate investors and private equity firms, Blackstone Group and Starwood Capital Group, have secured stakes in extended stay hotel chain Extended Stay America.
ESA opens company-owned hotel in Florida
US: Extended Stay America has opened new-build company-owned hotel in Port Charlotte, Florida.
ESA records $535 million earnings for 2019
US: Extended Stay America has released its full year results for 2019.
Provident rebrands second property as ESA
US: Provident Realty Advisors rebranded a Texas Candlewood Suites as an Extended Stay America property.
Extended Stay America on target for $275 million in quarterly earnings
US: Brokerages expect Extended Stay America (NYSE:STAY) to announce $275.09 million in sales for the current fiscal quarter, according to Zacks Investment Research.
First company-owned ESA new-build for 12 years opens in Florida
US: Extended Stay America has opened a new company owned hotel in Gibsonton, Florida, the first of its kind for the brand in more than 12 years.
Extended Stay America appoints Haase as CEO
US: Extended Stay America (ESA) has appointed former WoodSpring Hotels CEO Bruce Haase as president and CEO.
Planning lodged for Georgia ESA property
US: TCG Group has submitted plans for a new-build Extended Stay America hotel on Avalon Court in McDonagh, Georgia.
Texas extended stay hotel converted to ESA
US: A former Candlewood Suites in Katy, Texas, has been converted into an Extended Stay America property.
REVPAR dip for ESA
US: Extended Stay America has announced its results for the three and nine months to September 30 2019.
Extended Stay America offers help to hurricane victims
US/Bahamas: Extended Stay America has announced plans to aid victims of Hurricane Dorian by providing temporary shelter assistance for those in need.
ESA boosts pipeline by 18 per cent in Q2
USA: Extended Stay America (ESA) has recorded revenues of $323.7 million in Q2 2019, while boosting its pipeline by nearly a fifth.
ESA tops out at Florida property
US: Extended Stay America has topped out at its latest extended stay hotel, in Gibsonton-Riverview, Florida.
ESA to sell up to 50 hotels by 2020
US: Extended Stay America is aiming to sell between 30 and 50 hotels by the end of 2019.
Uptown Suites opens eighth property
US: Uptown Suites has announced the official opening of its eighth extended stay property, Uptown Suites Denver Tech Center CO – Centennial.
Extended Stay America opens Houston property
US: Extended Stay America has announced the first franchise conversion in the brand’s history with the opening of the Extended Stay America Houston IAH Airport.
ESA breaks ground on Virginia franchise property
US: Extended Stay America has started construction on its first franchised new-build hotel in Colonial Heights, Virginia.
Sandpiper forms extended stay REIT
US: Sandpiper Cos, a developer and operator of extended stay hotels, has formed Sandpiper Lodging Trust, a privately held lodging REIT.
ESA plans latest Florida project
US: Extended Stay America (ESA) is planning to open a 124-key property on Interchange Boulevard in Ormond Beach, Florida.
ESA continues asset sale to franchise partners with Singerman deal
US: Extended Stay America and ESH Hospitality have sold 14 branded Extended Stay America hotels to a a subsidiary of Singerman Real Estate.
ESA breaks ground on first new property in more than 10 years
US: Extended Stay America has broken ground on a four-storey, 124-key hotel in Gibsonton, Florida.
Analysts predict slower quarterly sales for ESA
US: Wall Street brokerages expect Extended Stay America (ESA) to post sales of $288.41 million for the current quarter.
Extended Stay America sells 32 properties to franchise partners
US: Extended Stay America and ESH Hospitality have completed the sale of two portfolios totalling 32 branded Extended Stay America hotels.
Extended Stay America launches WORKS business travel program
US: Extended Stay America has launched WORKS, a “comprehensive business travel program composed of products and services".
