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Equity-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2016
Schedule of Unrecognized Compensation Cost
Total unrecognized compensation expense will be adjusted for actual forfeitures.
 
Unrecognized Compensation Expense Related to Outstanding RSAs/RSUs (in thousands)
Remaining Weighted-Average Amortization Period (in years)
RSAs/RSUs with service vesting conditions
$
12,683

2.1
RSUs with performance vesting conditions
682

0.5
RSUs with market vesting conditions
7,197

2.3
Total unrecognized compensation expense
$
20,562

 
Summary of Restricted Stock Award and Restricted Stock Unit Activity
RSA/RSU activity during the six months ended June 30, 2016, was as follows:
 
 
 
 
 
Performance-Based Awards
 
Service-Based Awards
 
Performance Vesting
 
Market Vesting
 
Number of
RSAs/RSUs
(in thousands)
 
Weighted-
Average Grant-
Date Fair
Value
 
Number of
RSUs
(in thousands)
 
Weighted-
Average Grant-
Date Fair
Value
 
Number of
RSUs
(in thousands)
 
Weighted-
Average Grant-
Date Fair
Value(1)
Outstanding RSAs/RSUs - January 1, 2016
992

 
$
18.24

 
19

 
$
19.07

 
556

 
$
6.81

RSAs/RSUs granted in 2016
527

 
$
14.09

 
166

 
$
14.07

 
441

 
$
12.03

RSAs/RSUs settled in 2016
(524
)
 
$
16.72

 
(19
)
 
$
19.07

 
—

 
$
—

RSAs/RSUs forfeited in 2016
(19
)
 
$
16.09

 
(1
)
 
$
14.07

 
(4
)
 
$
15.04

Outstanding RSAs/RSUs - June 30, 2016
976

 
$
16.86

 
165

 
$
14.07

 
993

 
$
9.10

Vested RSAs/RSUs - June 30, 2016
7

 
$
20.15

 
—

 
$
—

 
—

 
$
—

Nonvested RSAs/RSUs - June 30, 2016
969

 
$
16.83

 
165

 
$
14.07

 
993

 
$
9.10

_________________________________
(1)
An independent third-party valuation was performed contemporaneously with the issuance of grants.
Summary of Key Assumptions Used for Fair Value Computation
During the six months ended June 30, 2016, the grant-date fair value of awards granted during the quarter with market vesting conditions was calculated using a Monte Carlo simulation model with the following key assumptions:
Expected holding period
2.85 years

Risk-free rate of return
0.88
%
Expected dividend yield
5.91
%
ESH REIT  
Summary of Restricted Stock Award and Restricted Stock Unit Activity
RSA/RSU activity during the six months ended June 30, 2016, was as follows:
 
 
Number of
RSAs/RSUs
(in thousands)
 
Weighted-
Average
Grant-Date
Fair Value
Outstanding RSAs/RSUs - January 1, 2016
244

 
$
9.71

RSAs/RSUs granted in 2016
15

 
$
14.08

RSAs/RSUs settled in 2016
(210
)
 
$
9.11

RSAs/RSUs forfeited in 2016
—

 
$
—

Outstanding RSAs/RSUs - June 30, 2016
49

 
$
13.57

Vested RSAs/RSUs - June 30, 2016
3

 
$
19.74

Nonvested RSAs/RSUs - June 30, 2016
46

 
$
13.24