Extended Stay America (STAY) 2014年年度报告「NYSE」.pdf

1、2014 annual reportJAMES L.DONALDChief Executive OfficerTo Our Shareholders:As we look back to 2014,our first full year as a public company,we are pleased with the progress we have made in the ongoing transformation of Extended Stay America.We made significant headway on our strategic initiatives and

2、 our renovation program while enhancing our balance sheet.These efforts,combined with our efficient tax and capital structure resulted in strong growth in earnings.For the full year 2014,our performance was highlighted by net income growth of 82.1%to$150.6 million.Total revenue increased 7.1%to over

3、$1.2 billion,due to a 7.1%improvement in RevPAR.Adjusted EBITDA grew 7.3%,or$38.1 million,to$556.7 million.Our efficient tax structure enabled us to deliver Adjusted Paired Share Income for 2014 of$169.7 million,or$0.83 per paired share.1 During 2014,we focused specifically on building brand awarene

4、ss,enhancing our associate culture,driving growth by optimizing our customer mix,implementing a revenue management system,and fortifying our industry-leading margins through operational improvements.We also expanded our renovation program and set in place a plan to renovate substantially all of our

5、portfolio by early 2017.Importantly,we fortified our leadership team with industry veterans who are each driving meaningful results in their respective areas.Building Brand Awareness:2014 was our first full year operating primarily under one national brand-Extended Stay America(“ESA”).We launched se

6、veral initiatives to increase our brand awareness,including a fully integrated national marketing campaign with national TV and online advertising designed to highlight our core differentiator of a hotel room with a full kitchen at a great value.We are convinced that a strong national brand will hel