Extended Stay America (STAY) Tops Q1 EPS by 1c

Extended Stay America (NYSE: STAY) reported Q1 EPS of $0.13, $0.01 better than the analyst estimate of $0.12. Revenue for the quarter came in at $287.6 million versus the consensus estimate of $285.37 million.

RevPAR for the three months ended March 31, 2016 grew 8.2% over the comparable period in 2015, driven by an improvement in average daily rate (“ADR”) of 9.5% while occupancy declined to 69.5% compared to 70.4% in the comparable period in 2015 due to an increased number of hotel rooms under renovation. Comparable Hotel RevPAR grew 5.0% during the quarter to $44.83 driven by a 5.9% increase in ADR, partially offset by a 70 bps decrease in occupancy.

For earnings history and earnings-related data on Extended Stay America (STAY) click here.

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