Extended Stay America (STAY) 2019年年度报告「NYSE」.pdf

1、Dear STAY Investor,I am excited to be here and look forward to my first full year as President and CEO at Extended Stay America,after having previously served as an independent director on ESH Hospitalitys Board of Directors since early 2018.Over my long career in hospitality Ive always admired Exte

2、nded Stay America.I strongly believe in the Companys business model,our singular focus on the high margin extended stay segment of the lodging industry,and I could not be more thrilled to be here working with our nearly 8,000 outstanding associates.In 2019,the Company saw a slight decline in compara

3、ble system-wide RevPAR of-0.9%,beating our competitive set by approximately 60 basis points.Adjusted for cycling hurricane related business in 2018 and renovation displacement in 2019,ESAs 2019 comparable system-wide RevPAR would have increased approximately 1%.For the year ended December 31,2019,ou

4、r Net Income was$165 million,our Adjusted EBITDA was$535 million,our Adjusted FFO per diluted Paired Share was$1.81,and our Adjusted Paired Share Income per diluted Paired Share was$0.95.During 2019 we invested$261 million in capital improvements,including significant investments in new hotels,hotel

5、 renovations,and IT projects.Additionally,we returned approximately$300 million in capital to Paired Shareholders through our dividend and Paired Share repurchases,extended certain debt maturities at attractive rates and maintained a very strong cash position.At the end of 2019,we filled two key vac

6、ant positions with extended stay lodging industry veterans.Randy Fox was appointed as our EVP of Hotel Operations and Kelly Polling as our EVP and Chief Commercial Officer.We believe ESA is managed by a group of industry veterans with a strong track record of success and I have the highest confidenc