EXTENDED STAY AMERICA, INC. (NYSE:CHH) Files An 8-K Other Events
Item8.01
| Other Events. |
On January5, 2017, Extended Stay America, Inc. (the Corporation)
and ESH Hospitality, Inc. (ESH REIT) issued a press release
announcing that the Board of Directors of the Corporation and the
Board of Directors of ESH REIT authorized an increase of their
combined Paired Share repurchase program from $200.0 million to
up to $300.0 million of Paired Shares and extended the maturity
of the program through December31, 2017, each effective January1,
2017.Repurchases may be made at managements discretion from time
to time in the open market, in privately negotiated transactions
or by other means (including Rule 10b5-1 trading plans), subject
to compliance with existing debt agreements. Depending on market
conditions and other factors, these repurchases may be commenced
or suspended from time to time without prior notice. As of
January1, 2017, the Corporation and ESH REIT repurchased and
retired approximately 9.4million shares of Corporation common
stock and approximately 9.4million shares of ESH REIT Class B
common stock, respectively, for approximately $86.2 million and
$53.6 million, respectively. As of January1, 2017, approximately
$160.2 million in repurchase authorization remained. A copy of
the press release is attached as Exhibit 99.1 to this Current
Report on Form8-K and is incorporated herein by reference in this
Item8.01.
Item9.01 |
Financial Statements and Exhibits. |
(d) Exhibits
|
|
|
|
| 99.1 |
Press release of Extended Stay America, Inc. and ESH Hospitality, Inc., dated January 5, 2017, announcing increase and extension of share repurchase program. |
About EXTENDED STAY AMERICA, INC. (NYSE:CHH)
Choice Hotels International, Inc. (Choice) is a hotel franchisor. The Company operates in two segments: hotel franchising business and SkyTouch Technology (SkyTouch). It operates approximately 6,420 hotels open and over 720 hotels under construction, representing approximately 507,480 rooms open and over 58,130 rooms under construction, awaiting conversion or approved for development in approximately 50 states, the District of Columbia and over 35 countries and territories outside the United States. It franchises lodging properties under the brand names, including Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites, Cambria hotels & suites and Ascend Hotel Collection (collectively, the Choice brands). SkyTouch division develops and markets cloud-based technology products, including inventory management, pricing and connectivity to third-party channels, to hoteliers not under franchise agreements with the Company. EXTENDED STAY AMERICA, INC. (NYSE:CHH) Recent Trading Information
EXTENDED STAY AMERICA, INC. (NYSE:CHH) closed its last trading session down -1.05 at 54.95 with 332,759 shares trading hands.