On December 18, 2017, the Board of Directors of each of Extended Stay America, Inc. (“Extended Stay”) and ESH Hospitality, Inc. (“ESH REIT”) accepted the voluntary resignation of Gerardo Lopez from his position as President and Chief Executive Officer of each of Extended Stay and ESH REIT, effective January 1, 2018. Mr. Lopez also resigned from his position as a director of each of Extended Stay and ESH REIT, effective January 1, 2018. The Boards of Directors of Extended Stay America, Inc. and its paired-share REIT, ESH Hospitality, Inc. announced that they have appointed Jonathan S. Halkyard to serve as the next President and Chief Executive Officer of both companies, effective from January 1, 2018.

Mr. Halkyard, 52, has served as Chief Financial Officer of Extended Stay and ESH REIT since January 2015. He served as interim Chief Financial Officer of Extended Stay and ESH REIT from August 2014 to January 2015 and as Chief Operating Officer of Extended Stay from November 2013 to January 2015 and served in the same position at HVM LLC from September 2013 to November 2013. Mr. Halkyard currently serves on the board of directors and audit committee of Dave & Buster's, Inc. As President and Chief Executive Officer, Mr. Halkyard will provide the Board of Directors of each of Extended Stay and ESH REIT with valuable insight regarding the Company's operations, management team, associates and culture, as a result of his day-to-day involvement in the operations of the business, and perform a critical role in Board discussions regarding strategic planning and development for the company.

On December 18, 2017, the Board of Directors of each of Extended Stay and ESH REIT appointed David Clarkson, the Vice President of Financial Planning and Analysis and Treasurer of the Company, as the interim Chief Financial Officer of the Company, effective January 1, 2018, until a permanent chief financial officer has been appointed. Mr. Clarkson, 46 has served as Vice President of Financial Planning & Analysis and Treasurer of the Company since 2015 and Treasurer since 2013. Prior to joining the Company in 2011, Mr. Clarkson was Vice President of Finance and Development for The Clarkson Group.

Concurrently with the appointment of Mr. Halkyard, the Company's current President and CEO, Gerry Lopez, will transition to the role of Senior Advisor until March 18, 2018.