CHOICE HOTELS TARGETS UPSCALE AND EXTENDED STAY MARKET SEGMENTS
US-based Choice Hotels has said it is targeting the extended stay market segment, with new openings on the horizon.
Among Choice Hotels’ offerings in the extended stay segment include the Everhome Suites line of properties, along with a new Cambria Hotel location and a brand relaunch of Suburban Studios.
Choice Hotels also recently acquired Radisson Hotels Americas, seeing the company’s portfolio expand to 22 brands and approximately 7,500 hotels. In total, the portfolio comprises around 630,000 rooms in 46 countries and territories.
Via its Cambria Hotels brand, Choice is aiming to become a leading brand for developers interested in upscale properties. The company claims its low cost prototype should be a draw for the developer community, with Choice completing 20 new agreements by the end of Q3 2022.
“Cambria Hotels is hitting its stride, doubling in size as it has entered nearly 75% of top U.S. markets these past five years,” said Mark Shalala, senior vice president of upscale brands development at Choice Hotels.
There are 65 hotels under the Cambria brand name, with almost 70 hotels in development in cities including Austin, Nashville and Denver.
“Despite the rise in interest rates and cost of materials, deal volume for Cambria has never been stronger. Our impressive growth, design flexibility, and strategic deployment of capital as direct investments in projects with our development partners is attracting more investors and top developers to the brand. As we enter 2023, we look forward to continuing to demonstrate the opportunity all our upscale brands, including Ascend Hotel Collection and new Radisson Hotel Americas properties, provide.”