PAIRING AGREEMENT

Exhibit 4.3

PAIRING AGREEMENT

This agreement (the “Agreement”) is dated as of November 12, 2013, by and between Extended Stay America, Inc., a Delaware corporation (the “Company”), and ESH Hospitality, Inc., a Delaware corporation (“ESH REIT”).

RECITALS

WHEREAS, the Company and ESH REIT are contemplating an underwritten initial public offering (the “IPO”) of the Paired Shares (as defined below);

WHEREAS, the Board of the Company (the “Company Board”) and the Board of ESH REIT (the “ESH REIT Board”) have determined it is in each of the Company’s and ESH REIT’s best interest to pair the outstanding shares of common stock of the Company, par value $0.01 per share (the “Company Shares”), to the Class B common stock of ESH REIT, par value $0.01 per share (the “ESH REIT Shares” and, together with the Company Shares, the “Shares”), so that they are generally transferable only in units (the “Paired Shares”), each of which shall initially consist of one Company Share paired to one ESH REIT Share (the “Pairing”);

WHEREAS, the certificate of incorporation of the Company (the “Company Certificate of Incorporation”) and the certificate of incorporation of ESH REIT (the “ESH REIT Certificate of Incorporation” and together with the Company Certificate of Incorporation, the “Certificates of Incorporation”) provide that, except as provided therein, the Company Shares and the ESH REIT Shares are not transferable, and shall not be transferred on the books of the Company or ESH REIT, as the case may be, except in combination with the shares of the other company; and

WHEREAS, the Company and ESH REIT wish to enter into this Pairing Agreement for the purpose of further effectuating the Pairing, including the establishment of the terms and conditions which will govern the issuance and the transfer of Company Shares and the ESH REIT Shares. All capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the ESH REIT Certificate of Incorporation.

ARTICLE I

Transfer of Shares

Until the restrictions and limitations set forth in this Article I shall have been terminated in the manner provided herein:

1.1 Except as provided herein, no ESH REIT Shares shall be transferable, and they shall not be transferred on the books of ESH REIT, unless (i) a simultaneous transfer is made by the same transferor to the same transferee, or (ii) such transferor has previously arranged with the Company for the transfer or issuance to the transferee, in each case, of the same number of Company Shares (subject to any adjustment required to be made pursuant to an exchange in accordance with Article IV), except that the Company may transfer the ESH REIT Shares acquired by it from ESH REIT to a Person to whom the Company simultaneously issues the same number of Company Shares (subject to any adjustment required to be made pursuant to an

exchange in accordance with Article IV). For purposes of this Agreement, “Person” means an individual, corporation, association, limited liability company, limited liability partnership, partnership, estate, trust, joint venture, unincorporated organization or a government or any agency or political subdivision thereof.

1.2 Except as provided herein, no Company Shares shall be transferable, and they shall not be transferred on the books of the Company, unless (i) a simultaneous transfer is made by the same transferor to the same transferee, or (ii) such transferor has previously arranged with ESH REIT for the transfer or issuance to the transferee, in each case, of the same number of ESH REIT Shares (subject to any adjustment required to be made pursuant to an exchange in accordance with Article IV), except that ESH REIT may transfer the Company Shares acquired by it to a Person to whom ESH REIT simultaneously issues the same number of ESH REIT Shares (subject to any adjustment required to be made pursuant to an exchange in accordance with Article IV).

ARTICLE II

Issuance of Shares

Until such time as the Pairing shall have been terminated in the manner provided herein:

2.1 Except as provided in Article III, ESH REIT shall not issue or agree to issue any of the ESH REIT Shares to any Person except the Company unless effective provision has been made for (i) the simultaneous issuance or transfer to the same Person of the same number of Company Shares (subject to any adjustment required to be made pursuant to an exchange in accordance with Article IV), (ii) the pairing of the Company Shares and the ESH REIT Shares and (iii) the allocation of the consideration to be received upon such issuance between the Company and ESH REIT or, if allocation of such consideration between them is not practicable, on the payment by one company to the other of cash or other consideration in lieu thereof. Any such allocation or payment shall be based on the respective fair market values of the Company Shares and the ESH REIT Shares, as determined in accordance with Section 2.3, unless otherwise agreed by the Company and ESH REIT.

2.2 Except as provided in Article III, the Company shall not issue or agree to issue any Company Shares to any Person except ESH REIT unless effective provision has been made for (i) the simultaneous issuance or transfer to the same Person of the same number of ESH REIT Shares (subject to any adjustment required to be made pursuant to an exchange in accordance with Article IV), (ii) the pairing of the Company Shares and the ESH REIT Shares and (iii) the allocation of the consideration to be received upon such issuance between the Company and ESH REIT or, if allocation of such consideration between them is not practicable, on the payment by one company to the other of cash or other consideration in lieu thereof. Any such allocation or payment shall be based on the respective fair market values of the Company Shares and the ESH REIT Shares, as determined in accordance with Section 2.3 unless otherwise agreed by the Company and ESH REIT, and any allocation or payment based upon the most recently determined Valuation Percentage should be conclusively deemed based on the respective fair market values of the Company Shares and the ESH REIT Shares, as determined in accordance with Section 2.3.

2.3 At the time of each issuance of Class B Common Stock pursuant to this Article II, and in any event not less often than once each calendar quarter, the Company and ESH REIT shall jointly arrange for the determination by a third party valuation, investment banking or other financial advisory firm as of a date specified by the Company and ESH REIT (the “Valuation Date”) of the fair market value of each Company Share outstanding on the Valuation Date (the “Fair Market Value of a Company Share”) and the fair market value of each ESH REIT Share outstanding on the Valuation Date (the “Fair Market Value of an ESH REIT Share”).

ARTICLE III

Limitations on Restrictions on Transfer and Issuance of Shares

3.1 Notwithstanding the restrictions set forth in Article I and Article II herein, any of the Company Shares issued or transferred in accordance with Article I and Article II after November 6, 2013, the date of the filing of the Company Certificate of Incorporation, which are issued on an unpaired basis by the Company pursuant to the terms of Section 6.6 of the Company Certificate of Incorporation may be transferred on an unpaired basis (subject to any adjustment required to be made pursuant to an exchange in accordance with Article IV).

3.2 Notwithstanding the restrictions set forth in Article I and Article II herein, any of the ESH REIT Shares issued or transferred in accordance with Article I and Article II herein after November 6, 2013, the date of the filing of the ESH REIT Certificate of Incorporation, which are issued on an unpaired basis by ESH REIT pursuant to the terms of Section 6.6 of the ESH REIT Certificate of Incorporation may be transferred on an unpaired basis (subject to any adjustment required to be made pursuant to an exchange in accordance with Article IV).

ARTICLE IV

Exchange Rights

4.1 Company Exchange Right

4.2 ESH REIT Exchange Right

4.3 Unless otherwise determined by ESH REIT or the Company or set forth in an Exchange Notice, no fractional Company Stock or other fractional securities or scrip evidencing fractions thereof shall be issued upon the exchanges under Sections 4.1 and 4.2. Instead of any fractional interest in Company Stock or in any other securities that would otherwise be deliverable upon the exchanges under Sections 4.1 and 4.2, the Company or ESH REIT, as applicable, shall pay to the exchanging holder an amount in cash equal to the corresponding fraction of Market Price of the Equity Stock on the Trading Day immediately preceding the Company Exchange Issuance Date or ESH REIT Exchange Issuance Date, as applicable. If more than one ESH REIT Share or Company Share, as applicable, shall be surrendered for exchange at one time by the same holder, the number of full Company Shares or other securities issuable upon exchange shall be computed on the basis of the aggregate number of the ESH REIT Shares or the Company Shares so surrendered.

4.4 ESH REIT or the Company, as applicable, shall pay or cause to be paid any and all documentary stamp or similar issue or transfer taxes payable in respect of the issue or delivery of any Exchange Amount upon any such exchange; provided, however, that neither ESH REIT nor the Company shall be required to pay or cause to be paid any tax that may be payable in respect of any transfer involved in the issue or delivery of any Exchange Amount in a name or to any Person other than that of the holder of the ESH REIT Shares or the Company Shares being exchanged, and no such issue or delivery shall be made unless and until the Person requesting such issue or delivery has paid to ESH REIT the amount of any such tax or established, to the reasonable satisfaction of ESH REIT or the Company, as applicable, that such tax has been paid.

4.5 Any determination required or permitted to be made by the Company Board and the ESH REIT Board by this Article IV shall, to the fullest extent of the law, be final, conclusive and binding on the holders of the ESH REIT Shares and the Company Shares.

ARTICLE V

Registration

5.1 The Company agrees to cause the Company Shares to be duly registered and to maintain effective such registration with the U.S. Securities and Exchange Commission (the “SEC”) pursuant to Section 12 of the Securities Exchange Act of 1934 (as amended, the “Exchange Act”).

5.2 ESH REIT agrees to cause the ESH REIT Shares to be duly registered and to maintain effective such registration with SEC pursuant to Section 12 of the Exchange Act.

ARTICLE VI

Stock Dividends, Reclassifications, etc.

6.1 Until such time as the Pairing shall have been terminated in the manner herein provided and as provided in the Certificates of Incorporation, and except pursuant to an exchange made in accordance with Article IV, neither the Company nor ESH REIT, as the case may be, shall declare or pay any stock dividend consisting in whole or in part of the Company Shares or the ESH REIT Shares, as the case may be, issue any rights or warrants to purchase any shares of the Company Shares or the ESH REIT Shares, as the case may be, or subdivide, combine or otherwise reclassify the Company shares or the ESH REIT Shares, unless the other party hereto (the Company or ESH REIT, as the case may be) simultaneously takes the same or equivalent action with respect to the Company Shares or the ESH REIT Shares, as the case may be, to the end that the outstanding Company Shares and ESH REIT Shares will at all times be effectively paired on a one-for-one basis as contemplated herein (subject to any adjustment required to be made pursuant to an exchange in accordance with Article IV). Notwithstanding the foregoing, no provision in this Article VI shall restrict ESH REIT from distributing the ESH REIT Shares to the Company.

6.2 Notwithstanding Section 6.1, if: (i) (a) ESH REIT is restricted, under the terms of any bona fide loan or credit agreement or indenture relating to a borrowing by ESH REIT or any of its subsidiaries, from paying a cash dividend and (b) the ESH REIT Board determines it necessary or desirable to continue to satisfy the distribution requirements of Section 857 of the Code, or (ii) the ESH REIT Board or Company Board determines it necessary or desirable to prevent ESH REIT and the Company from being treated as “stapled entities” (as defined in Section 269B(c)(2) of the Code), then to the extent necessary to satisfy clauses (i) or (ii) of this Section 6.1, ESH REIT may declare and pay taxable dividends, in cash, in kind or in Equity Stock in respect of the Class A Common Stock of ESH REIT that differ, in kind and/or amount from dividends paid in respect of the ESH REIT Shares, including, but not limited to, (x) the payment of no dividends in respect of the ESH REIT Shares, (y) distributing taxable stock dividends paid in respect of the Class A Common Stock of ESH REIT in the form of Class A Common Stock of ESH REIT, ESH REIT Shares and/or Preferred Stock of ESH REIT and (z) distributing taxable stock dividends paid in respect of the ESH REIT Shares in the form of ESH REIT Shares.

ARTICLE VIII

Termination

Subject to the terms of the Stockholders’ Agreement, this Agreement in its entirety or any provision of this Agreement may be waived, repealed or made inapplicable by action taken by the Company Board or ESH REIT Board, subject to the rights of the Blackstone Group, L.P., Paulson & Co. Inc. and Centerbridge Partners, L.P. or their respective Affiliates (collectively, the “Sponsors”) contained in the Stockholders Agreement. In addition, subject to the rights of the Sponsors contained in the Stockholders’ Agreement, by the affirmative vote of either (i) a majority of the ESH REIT Shares then outstanding as of a record date fixed by the ESH REIT Board for such purpose or (ii) a majority of the Company Shares then outstanding as of a record date fixed by the Company Board for such purpose, the holders of ESH REIT Shares or the holders of the Company Shares, as the case may be, may elect to eliminate the Pairing of all Paired Shares, provided, however that elimination of the Pairing of all Paired Shares shall not be effective until one hundred and eighty (180) days after such affirmative vote. The Pairing of the Paired Shares will be automatically terminated upon the commencement of any bankruptcy or insolvency proceeding of either of the Company or ESH REIT.

ARTICLE IX

Amendment

This Agreement may be amended only by action taken or authorized by the Company Board or the ESH REIT Board or by the majority of the Paired Shares then outstanding as of a record date fixed by the Company Board and the ESH REIT Board for such purpose, all subject to the rights of the Sponsors under the Stockholders’ Agreement.

ARTICLE X

Pairing of Excess Shares

10.1 In the event that (a) ESH REIT issues Excess ESH REIT Shares, par value $0.01 per share of ESH REIT (the “Excess ESH REIT Shares”) or the Company issues shares of Excess Company Shares, par value $0.01 per share of the Company (the “Excess Company Shares”) and (b) the Excess ESH REIT Shares and Excess Company Shares were paired pursuant to this Agreement, and until such time as the Pairing shall have been terminated in the manner provided herein, then in addition to, and not in any respect in limitation of, the provisions of the Certificates of Incorporation (as each may be amended from time to time), such Excess ESH REIT Shares and such Excess Company Shares shall be subject to the restrictions and limitations set forth in Articles I and II of this Agreement.

ARTICLE XI

Counterparts

This Agreement and any amendment hereto may be signed in any number of separate counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one Agreement (or amendment, as applicable).

ARTICLE XII

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to principles of conflicts of laws thereof.

ARTICLE XIII

Entire Agreement

This Agreement constitutes the entire agreement of the parties relating to the subject matter hereof and supersedes all prior contracts or agreements, whether oral or written.

ARTICLE XIV

No Third Party Beneficiaries

The parties hereto agree that there are no third parties who are intended to benefit from or who are entitled to rely on any of the provisions of this Agreement. No third party shall be entitled to assert any claims or to enforce any rights whatsoever pursuant to this Agreement. Except as otherwise expressly provided herein, the covenant and agreements provided in this Agreement are solely for the benefit of the parties hereto and their permitted successors and assigns respectively.

ARTICLE XV

Severability

Each provision of this Agreement shall be severable and an adverse determination as to any provision shall in no way affect the validity of any other provision.

ARTICLE XVI

Forum

To the fullest extent permitted by applicable law, each of the parties hereto (i) consents to submit itself to the personal jurisdiction of the Court of Chancery of the State of Delaware (and any appellate court of the State of Delaware) and the Federal courts of the United States of America located in the State of Delaware (in the event the Court of Chancery does not have jurisdiction) and the Superior Court of the State of Delaware (in the event the Court of Chancery and no such Federal court has jurisdiction) in the event any dispute arises out of this Agreement or the transactions contemplated by this Agreement, (ii) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court and (iii) agrees that it will not bring any action relating to this Agreement or the transactions contemplated by this Agreement in any court other than the Court of Chancery of the State of Delaware or, if the Court of Chancery does not have jurisdiction, a Federal court of the United States of America located in the State of Delaware, or if no such Federal Court has jurisdiction, the Superior Court of the State of Delaware. Each party hereto hereby waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of any suit, action or other proceeding arising out of this Agreement or the transactions contemplated hereby. To the fullest extent permitted by applicable law, each party hereto irrevocably consents to the service of process out of any of the aforementioned courts in any suit, action or other proceeding arising out of this Agreement by the mailing of copies thereof by mail to such party at its principal place of business, such service of process to be effective upon acknowledgement of receipt of such registered mail; provided that nothing in this Agreement shall affect the right of any party to serve legal process in any other manner permitted by law.

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly executed and delivered in its name and on its behalf, all as of the day and year first above written.

IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly executed and delivered in its name and on its behalf, all as of the day and year first above written.