Billy Rahm to Lead Established Team of Alternative Real Assets Investors NEW YORK, Feb. 4, 2025 /PRNewswire/ -- Everview Partners, L.P. ("Everview" or the "Firm") today announced its launch as a newly formed private investment firm founded by Billy Rahm on the belief that applying both private equity and credit expertise to U.S. real asset investments could yield enduring performance across market cycles. Rahm brings over 20 years of leadership and real asset investing experience across leading alternative asset management firms including Centerbridge and Blackstone. "With the
ISS Finds That Circumstances Surrounding the Sale "do not inspire confidence that the proposed transaction represents the best outcome for shareholders" Notes That "current deal terms do not appear to offer a sufficiently compelling value relative to the standalone scenario" Given "potential upside" From "sector-wide recovery" Follow ISS's Recommendation and VOTE on the GOLD Card AGAINST the Proposed Sale Tarsadia Capital, LLC together with its affiliates, associates and funds it manages ("Tarsadia"), today announced that leading independent proxy advisory firm Institutional Shareholder Services Inc. ("ISS") has recommended that Extended Stay America, Inc. (NASDAQ:STAY) ("STAY" or the "C
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Billy Rahm to Lead Established Team of Alternative Real Assets Investors NEW YORK, Feb. 4, 2025 /PRNewswire/ -- Everview Partners, L.P. ("Everview" or the "Firm") today announced its launch as a newly formed private investment firm founded by Billy Rahm on the belief that applying both private equity and credit expertise to U.S. real asset investments could yield enduring performance across market cycles. Rahm brings over 20 years of leadership and real asset investing experience across leading alternative asset management firms including Centerbridge and Blackstone. "With the
CHARLOTTE, N.C., June 29, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, the nation's leading mid-priced extended stay hotel company, is pleased to announce the launch of Extended Stay America Premier Suites. The elevated brand builds on the strength of Extended Stay America's industry-leading portfolio of more than 650 hotels. Comprised of 25 new or completely renovated properties across the United States, Extended Stay America Premier Suites offers guests a premium experience based on what extended stay travelers value most according to extensive guest research. "We're thrilled to announce the launch of Extended Stay America Premier Suites, which was informed entirely by our guests'
CHARLOTTE, N.C., June 16, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. ("ESA") and its paired-share REIT, ESH Hospitality, Inc. ("ESH" and, together with ESA, "Extended Stay" or the "Company") (NASDAQ:STAY) today announced the completion of their previously announced acquisition by funds managed by Blackstone Real Estate Partners ("Blackstone") and Starwood Capital Group for $20.50 per paired share in cash in a transaction valued at approximately $6 billion. As required under the terms of the Company's definitive merger agreement, the Board of Directors of ESA, on June 15, 2021, declared a special cash dividend of $1.75 per share of common stock of ESA that was paid immediately
CHARLOTTE, N.C., June 11, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. (“ESA”) and its paired-share REIT, ESH Hospitality, Inc. (“ESH” and, together with ESA, “Extended Stay” or the “Company”) (NASDAQ: STAY) today announced that preliminary results show holders of a majority of its shares have voted in favor of the previously announced amended merger agreement under which the company will be acquired by funds managed by Blackstone Real Estate Partners (“Blackstone”) and Starwood Capital for $20.50 per paired share in cash. The results of the vote are preliminary and are subject to certification by the independent inspector of election. Extended Stay intends to disclose the final
NEW YORK--(BUSINESS WIRE)--Tarsadia Capital, LLC together with its affiliates, associates and funds it manages (“Tarsadia”), today released an open letter to shareholders of Extended Stay America, Inc. (NASDAQ: STAY) (“STAY” or the “Company”) encouraging them to continue to oppose the Company’s proposed sale to Blackstone Real Estate Partners and Starwood Capital Group (the “Sale”). Tarsadia also noted that independent proxy advisor Glass, Lewis & Co. reiterated its recommendation that shareholders vote against the transaction despite the $1 per share increase in consideration offered by Blackstone and Starwood. The full text of the letter follows and is also available at www.ABett
NEW YORK--(BUSINESS WIRE)--Tarsadia Capital, LLC together with its affiliates, associates and funds it manages (“Tarsadia”), today announced that leading proxy advisor Glass, Lewis & Co. (“Glass Lewis”) has issued an updated report to shareholders of Extended Stay America, Inc. (NASDAQ: STAY) (“STAY” or the “Company”) and continues to recommend that shareholders vote AGAINST the Company’s proposed sale to Blackstone Real Estate Partners and Starwood Capital Group (the “Sale”). In its report, which evaluates the revised offer of $20.50 per share of STAY, Glass Lewis wrote:1 “Our vote recommendations have not changed and we continue to recommend that shareholders vote AGAINST the p
CHARLOTTE, N.C., June 04, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. (“ESA”) and its paired-share REIT, ESH Hospitality, Inc. (“ESH” and, together with ESA, “Extended Stay” or the “Company”) (NASDAQ: STAY) today announced that Institutional Shareholder Services Inc. (“ISS”), a leading independent proxy advisory firm, has reversed its prior voting recommendation. It recommends that Extended Stay shareholders vote FOR the now amended and higher $20.50 per paired share acquisition agreement with a 50/50 joint venture between funds managed by Blackstone Real Estate Partners (“Blackstone”) and Starwood Capital Group (“Starwood Capital”) at the Company’s Special Meetings of Shareho
Small Bump in Price Does Not Cure Fatally Flawed Sale Process Both ISS and Glass Lewis Concluded STAY's Process Was Flawed, the Sale Price Inadequate and the Transaction Timing Wrong Tarsadia Continues to Urge Shareholders to VOTE on the GOLD Card AGAINST the Proposed Sale Tarsadia Capital, LLC together with its affiliates, associates and funds it manages ("Tarsadia"), today commented on the updated offer from Blackstone Real Estate Partners and Starwood Capital Group to acquire Extended Stay America, Inc. (NASDAQ:STAY) ("STAY" or the "Company"). Tarsadia continues to urge shareholders to Vote Against the proposed sale (the "Sale") on the GOLD card at the Special Meeting scheduled for Ju
Glass Lewis Joins ISS in Raising Major Concerns Around Sale Process, Valuation and Timing Agrees with Tarsadia That STAY Has Paths to Greater Value Creation as a Standalone Entity Follow ISS's and Glass Lewis's Recommendations and VOTE on the GOLD Card AGAINST the Proposed Sale Tarsadia Capital, LLC together with its affiliates, associates and funds it manages ("Tarsadia"), today announced that both leading independent proxy advisory firms, Institutional Shareholder Services Inc. ("ISS") and Glass, Lewis & Co., LLC ("Glass Lewis") have recommended that Extended Stay America, Inc. (NASDAQ:STAY) ("STAY" or the "Company") shareholders VOTE AGAINST the proposed sale of the Company to Blacks
Represents "Best and Final" Offer from Blackstone and Starwood Capital and Provides Enhanced, Immediate and Certain Value Amended Agreement Unanimously Approved by Both Extended Stay Boards of Directors Special Meetings to be Adjourned to June 11, 2021 Shareholders Urged to Vote "FOR" the Amended Transaction on the WHITE Company Proxy Card CHARLOTTE, N.C., June 01, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. ("ESA") and its paired-share REIT, ESH Hospitality, Inc. ("ESH" and together with ESA, the "Company" or "STAY") (NASDAQ:STAY), Blackstone Real Estate Partners ("Blackstone") and Starwood Capital Group ("Starwood Capital") announced today that they have signed an
Macquarie downgraded Extended Stay America from Outperform to Neutral and set a new price target of $19.50
Morgan Stanley reiterated coverage of Extended Stay America with a rating of Equal-Weight and set a new price target of $20.00 from $16.00 previously
Stifel downgraded Extended Stay America from Buy to Hold and set a new price target of $19.50 from $17.50 previously
Jefferies downgraded Extended Stay America from Buy to Hold and set a new price target of $19.50
Robert W. Baird upgraded Extended Stay America from Neutral to Outperform and set a new price target of $19.00 from $15.00 previously
Baird upgraded Extended Stay America from Neutral to Outperform and set a new price target of $19.00 from $15.00 previously
Robert W. Baird upgraded Extended Stay America from Neutral to Outperform and set a new price target of $19.00 from $15.00 previously
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CHARLOTTE, N.C., June 16, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. ("ESA") and its paired-share REIT, ESH Hospitality, Inc. ("ESH" and, together with ESA, "Extended Stay" or the "Company") (NASDAQ:STAY) today announced the completion of their previously announced acquisition by funds managed by Blackstone Real Estate Partners ("Blackstone") and Starwood Capital Group for $20.50 per paired share in cash in a transaction valued at approximately $6 billion. As required under the terms of the Company's definitive merger agreement, the Board of Directors of ESA, on June 15, 2021, declared a special cash dividend of $1.75 per share of common stock of ESA that was paid immediately
Represents "Best and Final" Offer from Blackstone and Starwood Capital and Provides Enhanced, Immediate and Certain Value Amended Agreement Unanimously Approved by Both Extended Stay Boards of Directors Special Meetings to be Adjourned to June 11, 2021 Shareholders Urged to Vote "FOR" the Amended Transaction on the WHITE Company Proxy Card CHARLOTTE, N.C., June 01, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. ("ESA") and its paired-share REIT, ESH Hospitality, Inc. ("ESH" and together with ESA, the "Company" or "STAY") (NASDAQ:STAY), Blackstone Real Estate Partners ("Blackstone") and Starwood Capital Group ("Starwood Capital") announced today that they have signed an
Sets June 8, 2021 as Special Meeting Date to Vote on the Transaction Letter to Shareholders Highlights Immediate, Compelling and Certain Value of the Transaction that is Superior to Execution of Standalone Plan Says Future Value Creation Beyond Transaction Price Would Require Flawless Execution and Significant Multiple Re-Rating Underscores Transaction Price at 50%+ Premium to Pre-Pandemic Share Price Already Reflects Substantial Credit for Strategic Plan and Post-Pandemic Recovery CHARLOTTE, N.C., April 26, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. ("ESA") and its paired-share REIT, ESH Hospitality, Inc. ("ESH" and, together with ESA, "Extended Stay" or the "Company") (NA
CHARLOTTE, N.C., Jan. 28, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. and ESH Hospitality, Inc. (NASDAQ:STAY) (together, the “Company”), today announced the tax treatment for the aggregate distributions of $0.26 per paired share (CUSIP: 30224P200) paid to Extended Stay America, Inc.’s common shareholders and ESH Hospitality, Inc.’s Class A and Class B common shareholders during the calendar year ended December 31, 2020. For the tax year ended December 31, 2020, ESH Hospitality, Inc.’s aggregate distributions of $0.16 per Class A and Class B common shares were classified as 100% Ordinary Income and 100% Section 199A Qualified Business Income. For the tax year ended December 31, 20