Extended Stay America Launches Initial Public Offering
CHARLOTTE, NC - November 1, 2013 - Extended Stay America, Inc. (the "Company") and ESH Hospitality, Inc. ("ESH REIT") today announced that they have commenced an initial public offering of 28,250,000 paired shares, consisting of Common Stock of Extended Stay America, Inc., and Class B Common Stock of ESH Hospitality, Inc., which are attached and trade together as a Share. The Company and ESH REIT expect to grant the underwriters a 30-day option to purchase up to an additional 4,237,500 Shares. The initial public offering price is currently expected to be between $18.00 and $21.00 per Share. The Shares have been approved for listing on the New York Stock Exchange, subject to official notice of issuance, under the symbol "STAY."
The majority of the proceeds from the offering will be used to repay certain of ESH REIT's indebtedness.
Deutsche Bank Securities, Goldman, Sachs & Co. and J.P. Morgan will act as joint book-running managers and representatives of the underwriters for the offering. The offering of these securities is being made only by means of a prospectus. Copies of the preliminary prospectus can be obtained from: •Deutsche Bank Securities, Inc., Attention: Prospectus Group, 60 Wall Street, New York, New York 10005, Telephone: (800) 503-4611, Email: [email protected] •Goldman, Sachs & Co, Attention: Prospectus Department, 200 West Street, New York, New York 10282, Telephone: (866) 471-2526, Email: [email protected] •J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: 1-866-803-9204
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Extended Stay America
Based in Charlotte, N.C., Extended Stay America has 684 locations in the U.S. and Canada. The company owns and operates hotels under the core brand, Extended Stay America ®, which serves the mid-priced extended stay segment, and other brands. It is the largest owner/operator of company-branded hotels in North America and employs approximately 10,400 employees in its hotel properties and headquarters.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
