A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Watches and Clocks - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Watches and clocks are mechanical or electronic timekeeping pieces, which are utilized to indicate or measure time. Demand in the market is driven by the advent of newer technologies, digital advancements, changing economic status of developed and developing countries, shift in power from brands to consumers, from baby boomers to millennials, from western world to the eastern countries, and from traditional print and television media to social media. The growing trend of gifting watches, personally or for businesses, adds to the demand for watches and clocks. With prices of smart devices falling constantly, sales of smartwatches have gathered pace. Another major trend is the rising demand for sports watches with in-built GPS that allows wearers to keep track of performance parameters such as distance covered, calories burnt and time taken. The growing popularity of Internet retailing also presents substantial opportunities. Confronting stiff challenge from smartwatches, traditional watches are looking to sustain sales by emphasizing on function, movement design, place of manufacture, craftsmanship, brand value and credibility, and price.

Amid the COVID-19 crisis, the global market for Watches and Clocks estimated at US$60.5 Billion in the year 2020, is projected to reach a revised size of US$70.7 Billion by 2026, growing at a CAGR of 2.8% over the analysis period. Quartz, one of the segments analyzed in the report, is projected to record 2.3% CAGR and reach US$48.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Mechanical segment is readjusted to a revised 3.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at $11.8 Billion in 2021, While China is Forecast to Reach $7.5 Billion by 2026

The Watches and Clocks market in the U.S. is estimated at US$11.8 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$7.5 Billion by the year 2026 trailing a CAGR of 4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.9% and 2.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR. The penetration of premium branded watches in the US, Canada, Japan and Europe is high partly because developed markets are backed by favorable socio-cultural factors and greater discretionary spending power among men and women. The launch of affordable luxury watches and affordable smartwatches in particular are expected to benefit sales in the US. Middle class population in India and China, with their rising disposable incomes, have supported sales in the mid-priced products category.

Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

Covered Segments: Category [Mass (Under $50), Middle ($50-$299), Upper ($300-$999), Luxury ($1000 & Above)]; and Type (Quartz, and Mechanical). Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

The aviation MRO community will gather live at Aviation Week Network's MRO Americas in Orlando, April 27-29

The aviation MRO community will gather in-person for the first time in over a year, with the option to attend virtually, at Aviation Week Network's 26th Annual MRO Americas (#MROAM), April 27-29 in Orlando, Florida. The event will be co-located with the Military Aviation Logistics & Maintenance Symposium (#MALMS).

The hybrid event will allow participants to connect with peers and colleagues in person at the Orange County Convention Center in Orlando or attend virtually from anywhere in the world. The in-person event will be followed May 4-5 with scheduled virtual meetings, networking, chats, and on demand content.

The conference will address how the industry is moving forward after a year of incredible challenges and change with speakers from American Airlines, Boeing, Airbus, Ameriflight, and more.

"As we welcome the MRO Americas/MALMS industry back this year, it will be a condensed and more domestic/regionalized version of past events. The smaller scale conference and exhibition will enable us to accommodate everyone safely and securely and enable our customers to engage and conduct business confidently," said Lydia Janow, Managing Director, Events, for Aviation Week Network. "MRO Americas plays an integral role in our customers' business operations and we are so inspired by how the industry has pulled together to support each other."

The Military Aviation Logistics & Maintenance Symposium is supported by Elbit Systems of America, FTI, L3 Harris, Logistics Officers Association (LOA), Robbins Gioia and Teledyne Controls. The symposium takes place April 28-29 and is designed to bring "best practices" from commercial and military operations together.

The exhibition hall hours are Tuesday, April 27, 10:30 a.m. to 5:30 p.m., Wednesday, April 28 from 9:30 a.m. to 5:30 p.m. and Thursday, April 29 from 9:30 a.m. to 1 p.m. See here for a full list of exhibitors.

MRO Americas is supported by our sponsors. Platinum Sponsors are Airbus, Chromalloy, GE Aviation, Honeywell, Lufthansa Technik, and ST Engineering. Gold Sponsors are ATS, Avparts International, BPAero, CTS Engines, Embraer, GlobalParts Aero, IFS, LCI, MB Aerospace, Nordam, Spirit Aerosystems, Vertical Aerospace, and VSE Aviation.

MRO Americas will be organized in accordance with Informa's AllSecure Health and Safety standards, along with those of the OCCC. As the world's leading events' organizer, Informa developed a detailed set of enhanced measures. MRO Americas has planned for an optimally safe environment from the moment attendees check-in at registration to the closing of the show floor. Anyone unable to travel to Orlando will be able to participate virtually. Conference sessions will be live-streamed and available on demand and networking will be accommodated over the May 4-5 dates.

ABOUT AVIATION WEEK NETWORK

Aviation Week Network is the largest multimedia information and services provider for the global aviation, aerospace, and defense industries, serving 1.7 million professionals around the world. Industry professionals rely on Aviation Week Network to help them understand the market, make decisions, predict trends, and connect with people and business opportunities. Customers include the world's leading aerospace manufacturers and suppliers, airlines, airports, business aviation operators, militaries, governments and other organizations that serve this worldwide marketplace. Aviation Week Network's portfolio delivers award-winning journalism, data, intelligence and analytical resources, world-class tradeshows and conferences, and results-driven marketing services and advertising is helping our customers succeed. Aviation Week Network is part of Informa Markets, a division of Informa PLC.

ABOUT INFORMA MARKETS

Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio is comprised of more than 550 international B2B events and brands in markets including Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world's leading exhibitions organiser, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year.

For more information, please visit informamarkets.com

Extended Stay America, Inc. ("ESA") and its paired-share REIT, ESH Hospitality, Inc. ("ESH" and together with ESA, the "Company") (NASDAQ: STAY) announced today that it has signed a definitive agreement to be acquired by a 50/50 joint venture between funds managed by Blackstone Real Estate Partners ("Blackstone") and Starwood Capital Group ("Starwood Capital") for $19.50 per paired share in an all-cash transaction valued at approximately $6 billion.

The $19.50 per paired share consideration represents a premium of 23.3% over the 30-day volume-weighted average share price ending March 12, 2021 and a premium of 15.1% over the closing stock price on March 12, 2021.

Doug Geoga, Chairman of the Boards of the Company said, "After a thorough review of the Company's business plan, the Boards concluded that the immediate cash premium offered by this transaction is compelling for stockholders. We are delighted with this outcome."

Bruce Haase, CEO and President of the Company said, "We are pleased to announce this transaction with Blackstone and Starwood Capital, two of the most experienced investors in the hospitality space with impressive track records of building value in a wide variety of real estate assets, and we look forward to this partnership and continued growth." He added, "The Boards and senior management are especially grateful to the excellent team of leaders and associates who have made this company such a leader in the lodging industry and we are confident in the Company's continued success under private ownership."

Tyler Henritze, head of US acquisitions for Blackstone Real Estate commented, "Travel and leisure is one of Blackstone's highest conviction investment themes, and we have confidence in the extended stay model. We helped create this company nearly twenty years ago, and believe our expertise puts us in a unique position to add long-term value."

Barry Sternlicht, CEO of Starwood Capital, added, "Extended Stay has demonstrated resilience over the past year despite persistent challenges due to government lockdowns and travel restrictions. We are excited about the Company's growth opportunity as restrictions ease and we're confident that, in partnership with Blackstone and the Company, our team has the right experience to drive continued success."

The transaction has been unanimously approved by ESA's Board of Directors and has also been approved by ESH's Board of Directors. Completion of the transaction, which is expected to occur in the second quarter of 2021, is contingent upon customary closing conditions, including approval of the Company's stockholders. The transaction is not contingent on receipt of financing. In connection with the transaction, an affiliate of Starwood Capital, which owns approximately 9.4% of Company's outstanding paired shares, has entered into a support agreement whereby it has agreed to vote its shares in favor of the transaction.

The Company does not expect to pay its regular quarterly distribution during the pendency of the transaction except for the previously declared $0.09 distribution on March 26, 2021. However, under the terms of the merger agreement, the acquiror may request that ESA pay a special distribution immediately prior to the closing of up to $1.75 per paired share, in which case the cash consideration paid in the merger will be reduced by the amount of the distribution.

Goldman Sachs & Co. LLC is serving as financial advisor to the Company and Fried, Frank, Harris, Shriver & Jacobson LLP is acting as legal counsel. J.P. Morgan and Citigroup Global Markets Inc. are acting as financial advisors and providing debt financing to Blackstone and Starwood. Simpson Thacher & Bartlett LLP is acting as legal advisor to Blackstone, and Kirkland & Ellis LLP is acting as legal advisor to Starwood Capital.

Extended Stay America, Inc. ("ESA") and its brand Extended Stay America® is the leading brand in the mid-priced extended stay segment in the U.S. with 650 hotels. ESA's subsidiary, ESH Hospitality, Inc., is the largest lodging REIT in North America by unit and room count, with 564 hotels and approximately 62,500 rooms in the U.S. ESA also franchises an additional 86 Extended Stay America® hotels. Visit www.esa.com for more information.

About Starwood Capital Group

Starwood Capital Group is a private investment firm with a core focus on global real estate, energy infrastructure and oil & gas. The Firm and its affiliates maintain 16 offices in seven countries around the world, and currently have approximately 4,100 employees. Since its inception in 1991, Starwood Capital Group has raised over $55 billion of equity capital, and currently has in excess of $75 billion of assets under management. Through a series of comingled opportunity funds and Starwood Real Estate Income Trust, Inc. (SREIT), a non-listed REIT, the Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving. Starwood Capital also manages Starwood Property Trust (NYSE: STWD), the largest commercial mortgage real estate investment trust in the United States, which has successfully deployed over $63 billion of capital since inception and manages a portfolio of over $17 billion across debt and equity investments. Over the past 29 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. Additional information can be found at starwoodcapital.com.

About Blackstone Real Estate

Blackstone is a global leader in real estate investing. Blackstone's real estate business was founded in 1991 and has $187 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single-family housing, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone's Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high-quality assets and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Everbody loves a good Pizza. Papa Murphy's Take 'n' Bake Pizza recently announced it was awarded top marks for pizza chains from two leading business publications—Nation's Restaurant News (NRN) and Newsweek—in their annual consumer surveys, highlighting the strengths of the brand from the consumers' perspective amid a global pandemic.

On NRN's 2020 Consumer Picks list, Papa Murphy's ranked No. 1 in three "best in class" categories: "Overall Trust" pre-pandemic, "Sanitation" post-pandemic, and "True Loyalty." This marks the second straight year Papa Murphy's bested all other pizza chains for "True Loyalty," meaning consumers said they visited out of loyalty to the brand more than convenience. Additionally, Papa Murphy's ranked No. 3 in "Value" and "Affordability" pre-pandemic.

Papa Murphy's also earned its way to the No. 1 spot on Newsweek's America's Best Customer Service Companies 2021 list in the pizza chains category. This is the third straight year the brand has either earned first place or tied for first place on this prestigious list.

High rankings in both consumer surveys are a testament to how well the take-and-bake concept resonates with consumers during the COVID-19 pandemic—and how hard Papa Murphy's is working to keep its guests safe and satisfied.

"Over the past six months, only a limited number of Papa Murphy's stores had to close temporarily, and there were no permanent layoffs," wrote NRN Associate Editor Joanna Fantozzi. "Customers were constantly looking for meal solutions since most dining rooms were closed in the spring, and Papa Murphy's was equipped to deliver."

In Kim, Senior Vice President of Franchise Performance and Engagement – Operations at Papa Murphy's, said the fact that thousands of consumers chose Papa Murphy's as tops in trust, sanitation, loyalty, and customer service is a strong validation of the brand's ever-growing following. "When the pandemic hit, Papa Murphy's acted quickly to make sure our customers, employees, and Franchise Owners felt safe engaging with us at our stores – and we were rewarded with strong sales and continued support," said Kim. "Customer service and satisfaction truly are at the heart of what we do and behind every we make to order for our guests."

Papa Murphy's continues to focus on the highest level of service and personal safety for guests and communities. Stores have made it easier than ever for guests to bake their favorite pizza at home on their own schedule. Guests can order online or from Papa Murphy's official app, or through their favorite delivery app where available. In the stores, "quick pick-up" racks are conveniently placed near the entrance, so guests can limit time inside. Where possible, curbside pick-up and drive-thru options are also offered to allow guests to stay in their vehicles.

For more information and to find the Papa Murphy's location nearest you, please visit papamurphys.com, or connect online: facebook.com/papamurphyspizza, instagram.com/papamurphys, and twitter.com/papamurphys.

Papa Murphy's Holdings, Inc. ("Papa Murphy's") is a franchisor and operator of the largest Take 'n' Bake pizza brand in the United States, with a mission to "Change The Way You Pizza." Papa Murphy's exists to enrich the everyday with unconventional moments of happiness not only because our take 'n bake pizzas are made-to-order daily using only the freshest ingredients but by providing exceptional service at over 1,250 franchised and corporate-owned locations across the U.S—plus locations in Canada and the UAE. With the core values of Quality, Service, Integrity, Teamwork as our guide, Papa Murphy's offers guests a convenient, unparalleled experience for creating the best at-home meal experience. Along with fresh pizzas, Papa Murphy's offers hand-crafted salads, sides, and desserts to complete your meal and please your palate. Order online at papamurphys.com or from our official Papa Murphy's app everywhere, and find us on your favorite delivery apps in select markets.