Extended Stay America, Inc. (NYSE:STAY) (Extended Stay America) announced tyesterdayday that Jim Alderman will be appointed Executive Vice President and Chief Asset Merchant of Extended Stay America and its subsidiary, ESH Hospitality, Inc.
In this newly created role, Mr. Alderman will be responsible for executing the Company’s previously-announced 'ESA 2.0'asset merchant strategy, including development of the Company’s next-generation product through new construction and franchise sales, and asset management of the Company’s existing real estate portfolio, including sales and acquisitions, ongoing maintenance, and future renovations. Mr. Alderman will report directly to Gerry Lopez, President and CEO, and function as a member of the Company’s executive leadership team.
Mr. Alderman served most recently as Chief Development Officer with Kimpton Hotels and Restaurants, after prior leadership positions with other industry leaders such as Wyndham Worldwide and Starwood Hotels & Resorts. He brings over 30 years of experience in commercial real estate, with a broad background in hotel and restaurant development, private equity fund investment, management contracts, franchises, public/private partnerships and investor relations.
Gerry Lopez said, “Jim’s vast experience and well documented track record of success makes him uniquely qualified to lead our future growth and development efforts. He is a terrific addition to what I believe is the best leadership team in our industry. Furthermore, hiring an executive of Jim’s caliber is a great example of the progress we have made since sharing our vision and plans for growth and value creation with the investment community last summer.”
Mr. Alderman’s appointment is effective November 7, 2016.
Extended Stay America, Inc., the largest owner/operator of company-branded hotels in North America, owns and operates 629 hotels in the U.S. and Canada comprising approximately 69,400 rooms and employs over 8,400 employees at its hotel properties and headquarters. The Company’s core brand, Extended Stay America®, serves the mid-priced extended stay segment.
Logos, product and company names mentioned are the property of their respective owners.