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DEBT (Tables)
 3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Outstanding Debt
Summary - The Company’s outstanding debt, net of unamortized debt discounts and unamortized deferred financing costs, as of March 31, 2020 and December 31, 2019, consists of the following (dollars in thousands):
 Stated
Amount		Carrying AmountUnamortized Deferred Financing Costs  
LoanMarch 31, 2020December 31, 2019March 31, 2020December 31, 2019Stated Interest RateMaturity Date
Term loan facility
ESH REIT Term Facility$630,909  $625,863  
(1)
$627,368  
(1)
$8,693  $9,030  
LIBOR (2) + 2.00%
9/18/2026
(3)
Senior notes
2025 Notes1,300,000  1,293,315  
(4)
1,292,986  
(4)
14,349  15,055  5.25%5/1/2025
2027 Notes750,000  750,000  750,000  13,199  13,633  4.63%10/1/2027
Revolving credit facilities
ESH REIT Revolving Credit Facility350,000  350,000  —  2,472  
(5)
2,606  
(5)
LIBOR (2) + 2.00%
9/18/2024
Corporation Revolving Credit Facility50,000  49,765  —  531  
(5)
556  
(5)
LIBOR (2) + 2.25%
9/18/2024
Unsecured Intercompany Facility
Unsecured Intercompany Facility(6)
75,000  —  —  —  —  5.00%9/18/2026
Total$3,068,943  $2,670,354  $39,244  $40,880  
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(1)The ESH REIT Term Facility (defined below) is presented net of an unamortized debt discount of $1.9 million and $2.0 million as of March 31, 2020 and December 31, 2019, respectively.
(2)As of March 31, 2020 and December 31, 2019, one-month LIBOR was 0.99% and 1.76%, respectively. As of March 31, 2020 and December 31, 2019, $150.0 million and $200.0 million, respectively, of the ESH REIT Term Facility was subject to an interest rate swap at a fixed rate of 1.175%.
(3)Amortizes in equal quarterly installments of $1.6 million. In addition to scheduled amortization, subject to certain exceptions, annual mandatory prepayments of up to 50% of Excess Cash Flow, as defined, may be required commencing with the year ending December 31, 2020. Annual mandatory prepayments for a given fiscal year are due during the first quarter of the following fiscal year.
(4)The 2025 Notes (defined below) are presented net of an unamortized discount of $6.7 million and $7.0 million as of March 31, 2020 and December 31, 2019, respectively.
(5)Unamortized deferred financing costs related to revolving credit facilities are included in other assets in the accompanying consolidated balance sheets.
(6)Any outstanding debt balances and interest expense, as applicable, owed from ESH REIT to the Corporation eliminate in consolidation of the Company's condensed consolidated financial statements.
Summary of Components of Interest Expense The components of net interest expense during the three months ended March 31, 2020 and 2019, are as follows (in thousands):
Three Months Ended March 31,
20202019
Contractual interest (1)
$31,326  $28,717  
Amortization of deferred financing costs and debt discount2,052  1,997  
Other costs (2)
293  401  
Interest Income(986) (1,511) 
Total$32,685  $29,604  
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(1)Includes dividends on shares of mandatorily redeemable Corporation preferred stock. Net of capitalized interest of $0.9 million and $0.3 million, respectively.
(2)Includes interest expense on finance leases (see Note 12) and unused facility fees.