Extended Stay America Q4 Loss Narrows - Quick Facts

(RTTNews) - Extended Stay America Inc. (STAY), an operator of company-branded hotels in North America which went public in November 2013, Wednesday said fourth-quarter net loss attributable to common shareholders narrowed to $11.15 million from last year's $34.68 million.

The just concluded quarter's results included $25.2 million of write-off of non-cash deferred financing costs and prepayment penalties associated with the repayment of a portion of mezzanine debt as well as $16.8 million of non-cash equity-based compensation and $5.9 million of other costs related to the Initial Public Offering.

Adjusted Earnings Before Interest, Tax, Depreciation and Amortization, or EBITDA, increased 13.8 percent for the quarter.

Total revenues increased to $268.77 million from $250.56 million in the prior year. Wall Street expected revenues of $270.94 million.

The latest revenues included a net benefit of $5.5 million from the acquisition of 17 hotels in mid-December 2012.

REVenue Per Available Room or RevPAR grew 5.7 percent to $37.82, driven by an increase in average daily rate of 4.5 percent and an increase in occupancy to 70.5 percent as compared to 69.6 percent last year.

For 2014, total revenues are estimated to increase 7 to 10 percent to $1.212 billion to $1.246 billion. Analysts expect revenues of $1.24 billion.

The company's subsidiary, ESH Hospitality, Inc.'s Board of Directors declared a cash dividend of $0.08 per share prorated for the fourth quarter 2013, payable to ESH Hospitality, Inc.'s Class A and Class B common shareholders.