CHARLOTTE, N.C., Jan. 02, 2018 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. and ESH Hospitality, Inc. (NYSE:STAY) announced that the Company’s Boards of Directors extended the maturity of the combined Paired Share repurchase program through December 31, 2018, each effective January 1, 2018. The extension of the Paired Share repurchase authorization highlights the Company’s commitment to returning meaningful capital to shareholders while continuing to invest in the Company’s hotel portfolio and growth opportunities.
Repurchases may be made at management’s discretion from time to time in the open market, in privately negotiated transactions or by other means (including through Rule 10b5-1 trading plans). Depending on market conditions and other factors, these repurchases may be commenced or suspended without prior notice.
About Extended Stay America
Extended Stay America, Inc., the largest owner/operator of company-branded hotels in North America, owns and operates 624 hotels and over 68,000 rooms in North America and employs over 8,000 employees at its hotel properties and headquarters. The Company’s core brand, Extended Stay America®, serves the mid-priced extended stay segment. Visit ESA.com for more information about the Company and its services.