Extended Stay America (STAY) Tops Q4 EPS by 14c, Revenues Beat

Extended Stay America (NASDAQ: STAY) reported Q4 EPS of $0.16, $0.14 better than the analyst estimate of $0.02. Revenue for the quarter came in at $259.29 million versus the consensus estimate of $249.96 million.

Extended Stay America’s President and Chief Executive Officer Bruce Haase, commented, “We are pleased with another strong quarter as we continue to outperform every industry benchmark, improving our RevPAR index by 40% against our closest competition during the fourth quarter. Through last week, Extended Stay America has now had 65 consecutive weeks of RevPAR index gains dating back to well before the pandemic, demonstrating the growing strength of our model relative to the overall lodging industry.”

“As we move into 2021, we are very excited about our growth prospects and opportunities. Today we unveiled our new brand segmentation strategy with the launch of the Extended Stay America Premier Suites brand, in addition to our core hotels to be branded as Extended Stay America Suites. And, we continue to see opportunities for growth from improvements to our commercial engine and operating performance as well as unlocking value in our REIT through accretive asset transactions.”

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

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