Extended Stay operating loss declines to $10.6 million in November

By Caroline Salls

Pittsburgh, Dec. 15 - Extended Stay Inc. posted a $10.6 million operating loss for November on $63.11 million in revenues, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the Southern District of New York.

The figures showed a decline from the $1.87 million operating loss recorded in October on $71.58 million in revenues.

The net loss for November was $31.25 million, widening from a $22.96 million October net loss.

Extended Stay had $2.36 million in cash and cash equivalents at Nov. 30, up from $2.28 million at the end of October.

Extended Stay, a New York-based owner and operator of mid-priced extended stay hotels, filed for bankruptcy on June 15, 2009. Its Chapter 11 case number is 09-13764.

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