Mr. Hansen succeeds Thomas W. Storey who will remain on the board as a director. The Company also announced that Jeffrey W. Jones has been appointed to lead independent director, succeeding Dr. Bjorn Hanson, who will also remain on the board as a director and will continue his role as Chair of the Nominating and Corporate Governance Committee. Mr. Jones will also continue his role as Chair of the Audit Committee.

Mr. Hansen has served as the Company's President and Chief Executive Officer and been a member of the board since the Company's formation in 2010. He also serves on the board of the American Hotel and Lodging Association and is a member of multiple advisory councils for brand companies in the lodging industry. Under Hansen's leadership, the Company has nearly quadrupled in size to an enterprise value of $2.4 billion and more than 80 hotels across the country.