Markets

Hotel chain Extended Stay America files for US IPO that could raise upwards of $500 million

Extended Stay America, the largest owner and operator of company-branded hotels in North America, filed on Monday with the SEC to raise up to $100 million in an initial public offering, although the deal size is likely just a placeholder. We estimate that the deal will raise between $500 million and $1 billion. The Charlotte, NC-based company, which was founded in 1995 and booked $1.0 billion in sales for the 12 months ended March 31, 2013, plans to list on the NYSE but has yet to announce a ticker. Deutsche Bank, Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal. No pricing terms were disclosed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

IPOs

Latest Markets Videos