Jim Alderman has been appointed Executive Vice President and Chief Asset Merchant at Extended Stay America, Inc.
Extended Stay America, Inc. (NYSE:STAY) (Extended Stay America) announced today that Jim Alderman will be appointed Executive Vice President and Chief Asset Merchant of Extended Stay America and its subsidiary, ESH Hospitality, Inc. (“ESH REIT” and together with Extended Stay America, the “Company”). 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.
