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DEBT - REIT (Tables)
 6 Months Ended
Jun. 30, 2020
Entity Information [Line Items]  
Outstanding Debt
Summary - The Company’s outstanding debt, net of unamortized debt discounts and unamortized deferred financing costs, as of June 30, 2020 and December 31, 2019, consists of the following (dollars in thousands):
 Stated
Amount		Carrying AmountUnamortized Deferred Financing Costs  
LoanJune 30, 2020December 31, 2019June 30, 2020December 31, 2019Stated Interest RateMaturity Date
Term loan facility
ESH REIT Term Facility$630,909  $624,359  
(1)
$627,368  
(1)
$8,356  $9,030  
LIBOR (2) + 2.00%
9/18/2026
(3)
Senior notes
2025 Notes1,300,000  1,293,644  
(4)
1,292,986  
(4)
13,643  15,055  5.25%5/1/2025
2027 Notes750,000  750,000  750,000  12,759  13,633  4.63%10/1/2027
Revolving credit facilities
ESH REIT Revolving Credit Facility350,000  350,000  —  2,339  
(5)
2,606  
(5)
LIBOR (2) + 2.00%
9/18/2024
Corporation Revolving Credit Facility50,000  49,765  —  628  
(5)
556  
(5)
LIBOR (2) + 2.25%
9/18/2024
Total$3,067,768  $2,670,354  $37,725  $40,880  
_________________________________
(1)The ESH REIT Term Facility (defined below) is presented net of an unamortized debt discount of $1.8 million and $2.0 million as of June 30, 2020 and December 31, 2019, respectively.
(2)As of June 30, 2020 and December 31, 2019, one-month LIBOR was 0.16% and 1.76%, respectively. As of June 30, 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 $6.4 million and $7.0 million as of June 30, 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.
Summary of Components of Interest Expense The components of net interest expense during the three and six months ended June 30, 2020 and 2019, are as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2020201920202019
Contractual interest, net (1)
$31,753  $28,765  $63,079  $57,482  
Amortization of deferred financing costs and debt discount2,077  1,996  4,129  3,993  
Other costs (2)
59  405  352  806  
Interest income(268) (1,400) (1,254) (2,911) 
Total$33,621  $29,766  $66,306  $59,370  
______________________
(1)Includes dividends on shares of mandatorily redeemable Corporation preferred stock. Net of capitalized interest of $0.7 million, $0.4 million, $1.6 million and $0.8 million, respectively.
(2)Includes interest expense on finance leases (see Note 12) and unused facility fees.
ESH Hospitality, Inc.  
Entity Information [Line Items]  
Outstanding Debt ESH REIT’s outstanding debt, net of unamortized debt discount and unamortized deferred financing costs, as of June 30, 2020 and December 31, 2019, consists of the following (dollars in thousands):
 Stated
Amount		Carrying AmountUnamortized Deferred Financing Costs  
LoanJune 30, 2020December 31, 2019June 30, 2020December 31, 2019Stated Interest RateMaturity Date
Term loan facility
ESH REIT Term Facility$630,909  $624,359  
(1)
$627,368  
(1)
$8,356  $9,030  
LIBOR (2) + 2.00%
9/18/2026
(3)
Senior notes
2025 Notes1,300,000  1,293,644  
(4)
1,292,986  
(4)
13,643  15,055  5.25%5/1/2025
2027 Notes750,000  750,000  750,000  12,759  13,633  4.63%10/1/2027
Revolving credit facility
ESH REIT Revolving Credit Facility350,000  350,000  —  2,339  
(5)
2,606  
(5)
LIBOR (2) + 2.00%
9/18/2024
Unsecured intercompany facility
ESH REIT Intercompany Facility75,000  —  —  —  —  5.00%9/18/2026
Total$3,018,003  $2,670,354  $37,097  $40,324  
_________________________________ 
(1)The ESH REIT Term Facility (defined below) is presented net of an unamortized debt discount of $1.8 million and $2.0 million as of June 30, 2020 and December 31, 2019, respectively.
(2)As of June 30, 2020 and December 31, 2019, one-month LIBOR was 0.16% and 1.76%, respectively. As of June 30, 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 $6.4 million and $7.0 million as of June 30, 2020 and December 31, 2019, respectively.
(5)Unamortized deferred financing costs related to the revolving credit facility are included in other assets in the accompanying consolidated balance sheets.
Summary of Components of Interest Expense The components of net interest expense during the three and six months ended June 30, 2020 and 2019, are as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
Contractual interest, net (1)
$31,361  $28,622  $62,451  $57,197  
Amortization of deferred financing costs and debt discount2,024  1,969  4,046  3,939  
Other costs (2)
57  359  319  714  
Interest income(245) (683) (1,191) (1,649) 
Total$33,197  $30,267  $65,625  $60,201  
______________________
(1)Net of capitalized interest of $0.7 million, $0.4 million, $1.6 million and $0.8 million, respectively.
(2)Includes interest expense on finance leases (see Note 11) and unused facility fees.