SUBSEQUENT EVENTS - REIT

6 Months Ended

Jun. 30, 2019

Subsequent Event [Line Items]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

On August 6, 2019, the Board of Directors of the Corporation declared a cash distribution of $0.08 per share for the second quarter of 2019 on its common stock. The distribution is payable on September 4, 2019 to shareholders of record as of August 21, 2019. Also on August 6, 2019, the Board of Directors of ESH REIT declared a cash distribution of $0.15 per share for the second quarter of 2019 on its Class A and Class B common stock. This distribution is also payable on September 4, 2019 to shareholders of record as of August 21, 2019.

On August 6, 2019, the Boards of Directors of the Corporation and ESH REIT authorized an extension to the maturity date of the combined Paired Share repurchase program through December 31, 2020, and authorized a $150 million increase to the amount of the program. As a result, the combined Paired Share repurchase program authorizes the Corporation and ESH REIT to purchase up to $550 million in Paired Shares, and as of August 6, 2019, $262.5 million remained available under the program.

ESH REIT

Subsequent Event [Line Items]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

On August 6, 2019, the Board of Directors of ESH REIT declared a cash distribution of $0.15 per share for the second quarter of 2019 on its Class A and Class B common stock. The distribution is payable on September 4, 2019 to shareholders of record as of August 21, 2019.

On August 6, 2019, the Boards of Directors of the Corporation and ESH REIT authorized an extension to the maturity date of the combined Paired Share repurchase program through December 31, 2020, and authorized a $150 million increase to the amount of the program. As a result, the combined Paired Share repurchase program authorizes the Corporation and ESH REIT to purchase up to $550 million in Paired Shares, and as of August 6, 2019, $262.5 million remained available under the program.