Hotel chain Extended Stay America raises deal size to $500 million

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Extended Stay America, the largest owner and operator of company-branded hotels in North America, raised its deal size to $500 million and announced it will list under the ticker STAY on Tuesday. The Charlotte, NC-based company had previously filed with a $100 million placeholder.

Extended Stay America, which was founded in 1995 and booked $1.1 billion in sales for the 12 months ended June 30, 2013, plans to list on the NYSE. Deutsche Bank, Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal.



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Referenced Stocks: STAY

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