Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Extended Stay America, Inc. | d732714d8k.htm |
| EX-99.1 - EX-99.1 - Extended Stay America, Inc. | d732714dex991.htm |
Exhibit 99.2
| REIT Entity Level Cash Flows — 2013 PF |
|
Pro Forma Adjustments:
| • | Proposed term loan in place and mezzanine debt repaid as of 1/1/13 |
| • | Conversion to paired share structure complete as of 1/1/13 |
| • | Existing lease agreement effective as of 1/1/13 |
| • | Excludes items the company adds backs for purposed of calculating Adjusted EBITDA: restructuring expenses, acquisition transaction expenses, asset impairment, non-cash equity compensation, IPO related costs, and loss on disposal of assets |
| • | Excludes write-off of deferred financing costs associated with paydown of mezz debt |
| • | Total REIT Capital Expenditures assumed at $150MM (with maintenance capital expenditures 5% of revenue) |
| • | No borrowings under REIT or C Corp revolver |
| 1 | Depreciation and Amortization in the REIT Free Cash Flow section includes amortization of deferred financing costs, a component of interest expense on the P&L. |
44