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Extended Stay secondary offering wraps up

The secondary offering of 13.0 million paired shares of andESH Hospitality Inc. closed, with no proceeds to the company.

Certain affiliates of Blackstone Group LP, Centerbridge Partners LP and Paulson & Co. Inc. werethe selling stockholders in the offering, which closed Oct. 4 and was priced at$14.25 per share. Each paired share comprises a share of Extended Stay's commonstock and a share of ESH Hospitality's class B common stock.

Extended Stay on the same day closed its share repurchaseprogram, paying roughly $27.6 million to buy back 1,950,000 paired shares fromthe selling stockholders. It funded the share repurchase with cash on hand.

Goldman Sachs & Co. was the underwriter for the offering.