Extended Stay America (STAY) 2015年年度报告「NYSE」.pdf

1、GERARDO I.LOPEZPresident&Chief Executive OfficerTo Our Shareholders:Without qualification,2015 was a terrific year for Extended Stay America.In a year marked by industry volatility and much debate about the lodging cycle,Extended Stay America produced RevPAR growth of 6.7%,among the best in the busi

2、ness.Notably,the strong performance came even though we had a significant,but planned,increase in renovation disruption as we continue to work our way through this most important of initiatives.The RevPAR increase allowed operating leverage,resulting in an 8.3%increase in Adjusted EBITDA1 to$603.1 m

3、illion.In turn,the improvement in Adjusted EBITDA lifted our Adjusted Paired Share Income1 by 14.7%to$194.7 million,or$0.95 per Paired Share.All in all,we are pleased with the headline financials,the way they held up,and the way our team responded to the many challenges we faced in 2015.Beyond stron

4、g results in headline financials and RevPAR,our company completed a number of important initiatives in 2015 that set the stage for growth in 2016 and beyond.We sold,for example,53 economy extended stay hotels at a very attractive multiple in December,improving the brand consistency and quality of th

5、e remaining portfolio.We also improved our balance sheet by retiring nearly$100 million in debt and extended maturities at attractive rates as we continue to de-lever the company all while returning significant capital to you,our shareholders.Marketing and Revenue Initiatives:Late last summer,we com

6、pleted the rollout of an automated revenue management system that drives rates and occupancy during peak periods and shoulder days.We have already begun to see positive effects of this system and expect the system to provide a 1%to 2%lift to our 2016 RevPAR growth rate.We also improved our corporate