SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

PAULSON & CO INC

(Last)

(First)

(Middle)

1251 AVENUE OF THE AMERICAS

(Street)

NEW YORK

10020

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
11/12/2013

3. Issuer Name and Ticker or Trading Symbol
Extended Stay America, Inc. [ STAY ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Paired Shares⁽¹⁾	55,711,591	I	See footnotes⁽²⁾⁽³⁾
Series A Preferred Stock of Extended Stay America, Inc.	7,036	I	See footnotes⁽⁴⁾⁽⁵⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:

1. Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 3 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 3 has been concurrently filed with respect to ESH Hospitality, Inc. as issuer.

2. Paulson & Co. Inc. is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) ESA Recovery Acquisition, LLC, (ii) Paulson Advantage, L.P., (iii) Paulson Advantage II L.P., (iv) Paulson Advantage Ltd., (v) Paulson Advantage Plus, L.P., (vi) Paulson Advantage Plus II L.P., (vii) Paulson Advantage Plus PEQ1 Ltd.,(viii) Paulson Advantage Plus II Ltd., (ix) Paulson Credit Opportunities, L.P., (x) Paulson Credit Opportunities IV L.P., (xi) Paulson Credit Opportunities PEQ1 Ltd., (xii) Paulson Credit Opportunities II PEQ1 Ltd.,(xiii) Paulson Credit Opportunities IV Ltd., (xiv) Paulson Recovery Fund, LP, (xv) Paulson Recovery Fund II LP, (xvi) Paulson Recovery PEQ1 Ltd., (xvii) Paulson Recovery II Fund Ltd., (xviii) Paulson International Ltd., (xix) Paulson Enhanced Ltd., (xx) PCO EN LLC and (xxi) PCO PP LLC (collectively, the "Paired Share Funds").

3. (continued from footnote 2) John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 3 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 3 shall not be deemed an admission by any person reporting on this Form 3 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

4. Paulson is the investment manager of (i) ESH IP 60 Domestic Inc., (ii) ESH IP ADV Domestic Inc., (iii) ESH IP ADV II Domestic Inc., (iv) ESH IP ADV Offshore Inc., (v) ESH IP ADV PL Domestic Inc., (vi) ESH IP ADV PL II Domestic Inc., (vii) ESH IP ADV PL Offshore Inc., (viii) ESH IP ADV PL II Offshore Inc., (ix) ESP IP PCO Domestic Inc., (x) ESH IP PCO IV Domestic Inc., (xi) ESH IP PCO Offshore Inc., (xii) ESH IP PCO II Offshore Inc., (xiii) ESH IP PCO IV Offshore Inc., (xiv) ESH IP REC Domestic Inc., (xv) ESH IP REC II Domestic Inc., (xvi) ESH IP REC Offshore Inc., (xvii) ESH IP REC II Offshore Inc., (xviii) ESH IP International Offshore Inc., (xix) ESH IP Enhanced Offshore Inc., (xx) ESH IP PCO EN Domestic Inc. and (xxi) ESH IP PCO PP Domestic Inc. (collectively, the "Preferred Stock Funds"). (Continued in footnote 5)

5. John Paulson is the controlling person of Paulson. All shares of Preferred Stock reported on this Form 3 are owned by the Preferred Stock Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Preferred Stock Funds. Pursuant to Rule 16a-1(a)(4) under the Act, the filing of this Form 3 shall not be deemed an admission by any person reporting on this Form 3 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

	/s/ Stuart L. Merzer, General Counsel and Chief Compliance Officer of Paulson & Co. Inc.	11/12/2013
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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