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MarketScreener Homepage  >  Equities  >  Nyse  >  The Procter & Gamble Company    PG

THE PROCTER & GAMBLE COMPANY

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Procter & Gamble : P&G Professional and Extended Stay America's Partnership a Key Component of the STAY Confident Program

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09/22/2020 | 10:05am EDT

While travel slowed and many other major hotel brands had to close some or all of their locations, Extended Stay America, the leading mid-priced extended stay hotel company, has kept the doors of all 600+ locations open throughout the global pandemic. The company’s longstanding partnership with P&G Professional, the away-from-home division of Procter & Gamble, supports Extended Stay America’s STAY Confident initiative designed to keep its hotels healthy, safe and comfortable for guests and staff. The comprehensive program utilizes trusted brands like Spic and Span, Comet and Mr. Clean Professional to clean and disinfect all guest rooms and common spaces, with increased attention to high touch and heavily trafficked areas throughout each hotel.

A recent survey from P&G Professional found that 70 percent of hotel guests have a more stringent definition of “hotel cleanliness” since COVID-19 and 57 percent expect more thorough and frequent cleaning and transparency around what the hotel is doing to keep guests safe and rooms clean, both in person and on the company website. The same survey revealed that 70 percent of hotel guests would be more likely to pick a hotel room if they knew the hotel was using a manufacturer or brand of cleaning products they personally knew or trusted.

“Providing a safe, healthy and comfortable place to stay with friendly welcoming staff is foundational to our guest experience, and we’ve long understood that our guests like to see trusted cleaning products in use at our properties,” said Mike Kuenne, Senior Vice President and Chief Customer Experience Officer of Extended Stay America. “Extended Stay America has been proudly partnered with P&G Professional for many years and their recognizable brands are an important part of ensuring our guests feel confident that we’re focused on making their stays safe and comfortable.”

Through the STAY Confident program, expanded cleaning and safety measures have been adopted for vans, front desk areas, lobbies, elevators, guest rooms, laundry and vending machines, and other highly touched and trafficked areas in every Extended Stay America location. As part of its commitment to health, spaces are cleaned and disinfected with Spic and Span, Comet and Mr. Clean Professional, employees and guests are required to wear masks in all public areas, social distancing measures are in place, and specialized training is provided for all Extended Stay America teams. Additionally, all rooms are inspected and approved by management prior to guest check-in as part of a 10-point room cleaning process.

“Throughout our nearly decade-long partnership with Extended Stay America, we’ve recognized the critical importance they place on cleanliness and guest health,” said Paul Edmondson, Vice President North America, P&G Professional. “While businesspeople and vacationers alike resume their travels, it is more important than ever that hotels maintain the highest levels of cleanliness for their guests and staff, and the STAY Confident initiative with P&G Professional products ensures that all Extended Stay America locations can achieve these standards of clean.”

About Extended Stay America

Extended Stay America, Inc. and its brand Extended Stay America® is the leading brand in the mid-priced extended stay segment in the U.S. with 637 hotels. Extended Stay America’s subsidiary, ESH Hospitality, Inc. (“ESH”), is the largest lodging REIT in North America by unit and room count, with 562 hotels and more than 62,000 rooms in the U.S. Extended Stay America also manages or franchises an additional 75 Extended Stay America® hotels. Visit www.esa.com for more information.

About Procter & Gamble Professional

P&G Professional is the away-from-home division of Procter & Gamble, serving the hospitality, foodservice, building cleaning and maintenance, healthcare, food/drug/mass, and convenience store industries. P&G Professional offers complete solutions utilizing its parent company's scale, trusted brands and strengths in market and consumer understanding. P&G Professional features such brands as Tide® Professional, Dawn® Professional, Cascade® Professional, Mr. Clean® Professional, Febreze® Professional, Swiffer® Professional, Comet®, Spic and Span®, Bounty®, Safeguard®, and its own brand, P&G Pro Line®. Please visit www.pgpro.com for the latest information about P&G Professional's solutions and services.

© Business Wire 2020

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Financials (USD)
Sales 2021 74 113 M - -
Net income 2021 14 219 M - -
Net Debt 2021 18 744 M - -
P/E ratio 2021 25,0x
Yield 2021 2,34%
Capitalization 341 B 341 B -
EV / Sales 2021 4,86x
EV / Sales 2022 4,71x
Nbr of Employees 99 000
Free-Float 61,8%
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Number of Analysts 22
Average target price 151,55 $
Last Close Price 137,66 $
Spread / Highest target 23,5%
Spread / Average Target 10,1%
Spread / Lowest Target -19,4%
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Managers
NameTitle
David S. Taylor Chairman, President & Chief Executive Officer
Jon R. Moeller Vice Chairman, Chief Operating & Financial Officer
Kathleen B. Fish Chief Research, Development & Innovation Officer
Vittorio Cretella Chief Information Officer
W. James McNerney Lead Independent Director
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