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Extended Stay America, Inc. (STAY) reported first-quarter 2020 financial results, highlighting a net income of $7.8 million and total revenues of $266.3 million, a 4.1% decline year-over-year. The company faced a 5.8% drop in comparable system-wide RevPAR to $43.98, primarily due to COVID-19 impacts, particularly in March when RevPAR dropped 19% compared to March 2019. Adjusted EBITDA was $97.7 million, down 16% year-over-year. Despite challenges, the company maintained operations across all locations, benefitting from a strong RevPAR index relative to the industry.
