XML 22 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
REVENUES:      
Room revenues $ 1,260,868 $ 1,250,865 $ 1,265,653
Other hotel revenues 21,857 19,728 19,100
Total revenues 1,282,725 1,270,593 1,284,753
OPERATING EXPENSES:      
Hotel operating expenses 585,545 580,772 604,087
General and administrative expenses 94,652 98,045 98,625
Depreciation and amortization 229,216 221,309 203,897
Impairment of long-lived assets 25,169 9,828 9,011
Total operating expenses 934,582 909,954 915,620
GAIN ON SALE OF HOTEL PROPERTIES, NET (Note 4) 9,973 0 130,894
OTHER INCOME 2,959 25 45
INCOME FROM OPERATIONS 361,075 360,664 500,072
OTHER NON-OPERATING (INCOME) EXPENSE (399) (1,576) 2,732
INTEREST EXPENSE, NET 129,772 164,537 137,782
INCOME BEFORE INCOME TAX EXPENSE 231,702 197,703 359,558
INCOME TAX EXPENSE 59,514 34,351 76,536
NET INCOME 172,188 163,352 283,022
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS (93,341) (93,420) (169,982)
NET INCOME ATTRIBUTABLE TO EXTENDED STAY AMERICA, INC. COMMON SHAREHOLDERS $ 78,847 $ 69,932 $ 113,040
NET INCOME PER COMMON SHARE:      
Basic (in dollars per share) $ 0.41 $ 0.35 $ 0.55
Diluted (in dollars per share) $ 0.41 $ 0.35 $ 0.55
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING:      
Basic (in shares) 193,101 200,572 204,211
Diluted (in shares) 193,670 200,736 204,567
ESH REIT [Member]      
REVENUES:      
REVENUES - Rental revenues from Extended Stay America, Inc. (Note 11) $ 683,500 $ 694,275 $ 719,635
OPERATING EXPENSES:      
Hotel operating expenses 90,495 89,166 97,062
General and administrative expenses 14,801 14,264 15,973
Depreciation and amortization 225,484 216,394 199,044
Impairment of long-lived assets 15,046 0 0
Total operating expenses 345,826 319,824 312,079
GAIN ON SALE OF HOTEL PROPERTIES, NET (Note 4) 8,562 0 116,616
OTHER INCOME 673 5 37
INCOME FROM OPERATIONS 346,909 374,456 524,209
OTHER NON-OPERATING (INCOME) EXPENSE (227) (1,245) 2,726
INTEREST EXPENSE, NET 130,923 163,443 134,780
INCOME BEFORE INCOME TAX EXPENSE 216,213 212,258 386,703
INCOME TAX EXPENSE 1,229 51 8,519
NET INCOME 214,984 212,207 378,184
NET INCOME ATTRIBUTABLE TO EXTENDED STAY AMERICA, INC. COMMON SHAREHOLDERS 214,968 212,191 378,168
ESH REIT [Member] | Common Class A [Member]      
OPERATING EXPENSES:      
NET INCOME ATTRIBUTABLE TO EXTENDED STAY AMERICA, INC. COMMON SHAREHOLDERS $ 121,627 $ 118,787 $ 208,202
NET INCOME PER COMMON SHARE:      
Basic (in dollars per share) $ 0.49 $ 0.47 $ 0.83
Diluted (in dollars per share) $ 0.48 $ 0.47 $ 0.83
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING:      
Basic (in shares) 250,494 250,494 250,451
Diluted (in shares) 250,494 250,494 250,451
ESH REIT [Member] | Common Class B [Member]      
OPERATING EXPENSES:      
NET INCOME ATTRIBUTABLE TO EXTENDED STAY AMERICA, INC. COMMON SHAREHOLDERS $ 93,341 $ 93,404 $ 169,966
NET INCOME PER COMMON SHARE:      
Basic (in dollars per share) $ 0.48 $ 0.47 $ 0.83
Diluted (in dollars per share) $ 0.48 $ 0.47 $ 0.83
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING:      
Basic (in shares) 193,101 200,572 204,211
Diluted (in shares) 193,101 200,736 204,567