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LONDON, UK / ACCESSWIRE / March 1, 2018 / Active-Investors.com has just released a free research report on Extended Stay America, Inc. STAY, -1.04% If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=STAY as the Company’s latest news hit the wire. On February 27, 2018, the Company announced that it has completed the sale of 25 Extended Stay America hotels (ESA hotels) to an affiliate of Three Wall Capital, LLC. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Extended Stay America most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Extended Stay America also completed the sale of a single hotel in Denver Tech Center in December 2017.
Extended Stay America will continue to manage the 25 ESA hotels over a 20-year contract. The 25 ESA hotels represent over 2,400 rooms and are located in Ohio, Kentucky, Indiana, and Texas. As per the terms of the transaction, Three Wall Capital will build 15 additional ESA hotels over a seven-year period.
Acquisition Provides Three Wall Capital Opportunity to Partner with One of the Industry’s Premier Brands
Commenting on the agreement, Alan Kanders, Founder and Managing Member of Three Wall Capital, stated that the acquisition of these assets, along with the Company’s commitment to growing the ESA system, provides Three Wall Capital with a fantastic opportunity to partner with one of the industry’s premier brands and the leader in the mid-priced extended stay segment.
Extended Stay America Announced Fourth Quarter 2017 Results and 2018 Outlook
On February 27, 2018, Extended Stay America also announced its consolidated results for the fourth quarter ended December 31, 2017, and outlook for the fiscal year 2018.
Extended Stay America and ESH Hospitality Inc.’s total revenues reached $302.5 million in Q4 FY17, up 2.3% y-o-y. For Q4 FY17, the comparable hotel revenue per available room (RevPAR) grew 3.3% to $47.0 y-o-y. The Company’s adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were $140.2 million for the reported quarter compared to $142.47 million in the year ago same quarter. The Company’s adjusted funds from operations (AFFO) were $0.40 per diluted paired share in Q4 FY17 versus $0.41 per diluted paired share in Q4 FY16. Extended Stay America reported an adjusted income of $36.2 million, or $0.19 per diluted paired share, in Q4 FY17 compared to $38.8 million, or $0.20 per diluted paired share, in the same period in FY16.
The Company’s total revenues and adjusted EBITDA outlook for the fiscal year 2018 includes approximately $1.4 million in contribution and $4 million in revenue from the 25 hotels sold in Q1 FY18. Extended Stay America’s capital expenditure outlook includes approximately $40 million to $60 million for investments in ESA 2.0, including the construction of new hotels, land acquisitions, and other investments, and approximately $30 million to $40 million in IT capital investments.
About Extended Stay America, Inc.
Founded in 1995 and headquartered in Charlotte, North Carolina, Extended Stay America is a fully-integrated owner/operator of extended stay hotels under its core brand, Extended Stay America®, and is a category leader in the mid-priced extended stay segment. The Company owns and operates 629 hotels in the US and Canada.
About Three Wall Capital, LLC
Established in 2008 and based in New York City, New York, Three Wall Capital is a hospitality equity and debt investment group for institutional and individual investors. The Company continues to expand its holdings through value added acquisitions and maintaining its personal relationships throughout the hospitality and lodging real estate sector.
Stock Performance Snapshot
February 28, 2018 – At Wednesday’s closing bell, Extended Stay America’s stock advanced 1.93%, ending the trading session at $20.03.
Volume traded for the day: 2.25 million shares, which was above the 3-month average volume of 1.90 million shares.
Stock performance in the last three-month – up 16.18%; previous six-month period – up 8.09%; past twelve-month period – up 15.78%; and year-to-date – up 5.42%
After yesterday’s close, Extended Stay America’s market cap was at $3.84 billion.
Price to Earnings (P/E) ratio was at 51.89.
The stock has a dividend yield of 4.19%.
The stock is part of the Services sector, categorized under the Lodging industry.
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