Effective today, Standard and Poor`s is adding Extended Stay America, Inc. (NYSE: ESA) to its MidCap 400 Index.
According to Standard and Poor`s, there are several criteria a company must meet to qualify for this index, including sufficient stock trading volume, company stock price history, stock available to the public, four quarters of positive net operating income and a market capitalization of $1 billion to around $5 billion.
George Johnson, CEO, commented, “Our appointment to this important index is symbolic of the success the Company has enjoyed since its founding in 1995 and is recognition of the outstanding effort of our 6500 employees.”
Extended Stay America develops, owns and operates extended-stay lodging facilities which provide an affordable and attractive lodging alternative at a variety of price points for value-conscious guests. Extended Stay America is the fastest growing owned and operated hotel company in U.S. history. The Company currently owns and operates 410 extended-stay lodging hotels in 39 states, which includes 94 StudioPLUS Deluxe Studios, 277 Extended StayAmerica Efficiency Studios and 39 Crossland Economy Studios facilities. In addition, the Company has 38 hotels under construction that are expected to open within the next twelve months.