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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Choice Hotels International Inc | NYSE:CHH | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-1.32 | -1.06% | 122.91 | 125.90 | 122.67 | 124.66 | 247,060 | 01:00:00 |
Choice Hotels reinforces its leadership and first-mover advantage in extended stay with groundbreakings in Texas, Kansas, and Kentucky
NORTH BETHESDA, Md., Aug. 20, 2024 /PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, continues to strengthen its leadership position in extended stay with three new Everhome Suites breaking ground in San Antonio, Texas; Bowling Green, Kentucky; and Wichita, Kansas. All three were developed in collaboration with Highside Companies. These groundbreakings, along with eight others earlier this year, demonstrate Choice's first-mover advantage in the category, continuing to capitalize on extended stay demand which is currently double the supply. In total, Choice Hotels has four Everhome Suites open, 65 in the pipeline, over 20 under construction, and more than 15 expected to open within the next 12 months. As of the end of Q2 2024, Choice has nearly 400 hotels in the pipeline across four extended stay brands.
Choice continues to break ground and open Everhome Suites extended stay hotels across the country. The Everhome Suites San Antonio marks the sixth property under construction in Texas. This will be Choice's second Everhome Suites in Kentucky and the first in Kansas.
"These three new locations speak to our continued leadership in new construction midscale extended stay," said Ron Burgett, senior vice president, extended stay development, Choice Hotels. "We're opening hotels at a rapid pace and providing franchisees and collaborators like Highside with exceptional operational know-how in the category."
"We're proud to join Choice on the forefront of extended stay delivery with a continued wave of new Everhome Suites openings and groundbreakings, with a total of 25 in the current pipeline," said Justin Roberts, chief executive officer of Highside Companies.
"Choice's first-mover advantage ensures we're able to capitalize on extended stay demand in key markets and continue to cement our leadership position in the category," said Matt McElhare, vice president and lead for extended stay brands, Choice Hotels. "These three groundbreakings in Bowling Green, San Antonio, and Wichita will provide a great extended stay experience to a myriad of travelers looking for an affordable and flexible option whether they are traveling for business or leisure."
The hotel details are as follows:
Everhome Suites offers the comforts of home along with many other convenient amenities, including:
Everhome Suites participates in Choice Privileges, the award-winning rewards program where members earn points on eligible charges during their stay, which can be redeemed for reward nights at over 7,000 hotels across a diverse portfolio of brands in 45 countries and territories. With the Choice Privileges Mastercard, members can earn more points faster, including on everyday purchases.
Choice Hotels, with a franchise-first focus and an industry-leading retention rate, has been committed to providing its hotel owners with the support they need to succeed since it launched the country's first hotel chain in 1941. Today, Choice offers franchisees a suite of cutting-edge cloud-based solutions, including the choiceEDGE guest reservation platform and the choiceADVANTAGE property management system to help franchisees effectively manage room rates, distribution channels, and inventory.
For more information on Everhome Suites development opportunities, visit choicehotelsdevelopment.com/everhome-suites.
Everhome Suites®: Closer to Home
The Everhome Suites brand provides a Closer to Home™ experience that enables guests to live life on their terms during longer-term stays. The newly constructed midscale hotels are designed to help extended stay guests maintain routine on the road with apartment-style suites featuring fully equipped kitchens, spa-like bathrooms and customizable "me" spaces, including movable workstations, full-size closets and additional storage. Everhome Suites properties have modern and sophisticated public spaces, 24/7 fitness centers with Peloton bikes, guest laundry facilities, free Wi-Fi and self-service marketplaces with a variety of fresh and frozen meal and grocery options. For more information, visit https://www.choicehotels.com/everhome-suites.
About Choice Hotels®
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. The challenger in upscale and a leader in midscale and extended stay, Choice® has nearly 7,500 hotels, representing more than 630,000 rooms, in 45 countries and territories. A diverse portfolio of 22 brands that range from full-service upper upscale properties to midscale, extended stay and economy enables Choice® to meet travelers' needs in more places and for more occasions while driving more value for franchise owners and shareholders. The award-winning Choice Privileges® rewards program and co-brand credit card options provide members with a fast and easy way to earn reward nights and personalized perks. For more information, visit www.choicehotels.com.
About Highside Companies
Founded in 2019, Highside Companies is a Denver-based real estate company, with nearly $875 million in active projects across the U.S. and Canada. Under the direction of a leadership team with more than a century of combined experience in every aspect of the commercial real estate lifecycle, Highside offers best-in-class investment, investment management, and development solutions across multiple asset classes. For more information, visit www.highsidecompanies.com.
Forward-Looking Statements
This communication includes "forward-looking statements" about future events, including anticipated development and hotel openings. Such statements are subject to numerous risks and uncertainties, including construction delays, availability and cost of financing and the other "Risk Factors" described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, any of which could cause actual results to be materially different from our expectations.
Addendum
This is not an offering. No offer or sale of a franchise will be made except by a Franchise Disclosure Document first filed and registered with applicable state authorities. A copy of the Franchise Disclosure Document can be obtained through contacting Choice Hotels International at 1 Choice Hotels Circle, Suite 400, Rockville, MD 20850, email: development@choicehotels.com.
© 2024 Choice Hotels International, Inc. All Rights Reserved
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SOURCE Choice Hotels International, Inc.
Copyright 2024 PR Newswire
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