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: prospectus- [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

Extended Stay America is the leading mid-priced extended stay hotel brand in the U.S., with more than 700 hotels. Committed to delivering value and genuine goodness to every guest at every location, the Extended Stay brand family includes Extended Stay America Premier Suites, Extended Stay America Suites, and Extended Stay America Select Suites. For more information or to book, please visit www.esa.com and follow @ExtendedStay.