Extended Stay Hotels Reportedly Files for Public Sale
Monday July 22nd, 2013 - 11:39AM HB
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CHARLOTTE, NC—Less than three years after emerging from bankruptcy, Extended Stay America Inc. has reportedly filed with regulators to raise up to $100 million in an initial public offering, according to Reuters.
The chain was sold for $3.9 billion at a bankruptcy auction in October 2010 to a joint venture that consists of Blackstone Group LP, Centerbridge Partners LP and Paulson & Co. Each party owns about a third of the company.
The offering will consist of common stock of Extended Stay America and Class B stock of ESH Hospitality, a real estate investment trust, according to the filing obtained by The New York Times. Those two securities will be attached and trade together, according to the company.
Tags: • Hospitality • Brands • Ownership •
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