Extended Stay America, Inc. and its paired-share REIT, ESH Hospitality, Inc. announced the appointment of Bruce Haase as president and chief executive officer in a press release Friday.

Haase has served as a director of ESH Hospitality since 2018 and has more than 20 years of lodging experience with particular expertise in the extended stay hotel segment. From 2014 to 2016, he served as chief executive officer of WoodSpring Hotels, LLC, the nation’s largest and fastest growing economy extended stay hotel brand.

Haase succeeds Jonathan Halkyard, who will continue to advise the company through Feb. 25.

“I am excited to partner with our management team and 8,000 associates,” stated Haase. “I am confident in the future of the company and have asked the boards to ensure that my compensation is fully aligned with the interests of our shareholders.”

The company also announced the appointment of Kelly Poling as executive vice president, chief commercial officer, and Randy Fox as executive vice president, property operations.

Poling has experience in the extended stay hotel segment, having led all central revenue generating functions at WoodSpring Suites. Fox has 35 years of property operations experience, managing and improving property performance of extended stay lodging assets nationwide.

Extended Stay Chairman Douglas Geoga said the company has recently discontinued a strategic review to increase shareholder value. Geoga said none of the available alternatives provided an “acceptable outcome, or superior value compared to improved execution of the company’s business strategy.”

“We believe that a focus on property-level improvement, franchise acceleration and asset management, together with the company’s industry-leading margins and free cash flow generation, will lead to enhanced strategic and structural alternatives in the future to drive superior returns for all shareholders,” Geoga added.

Extended Stay is the leading brand in the mid-priced extended stay segment in the U.S with 628 hotels. Its paired shares closed at $14.48 Friday, down 35 cents per share.