Extended Stay America raises IPO expectation to $500 mln – Bloomberg

Bloomberg reported on Tuesday that Extended Stay America now expects to raise $500 million for its IPO. Deutsche Bank AG, Goldman Sachs Group. and JPMorgan Chase will serve as underwriters. Extended Stay, which is owned by the Blackstone Group, Centerbridge Partners and Paulson & Co., is a hotel chain in North America. The company originally filed for a $100 million IPO in July.