Choice Hotels expands Everhome Suites across the U.S. with largest transaction in brand history
ServiceStar Capital Management will develop more than 20 Everhome suites in Colorado, Arizona, Utah, Nevada and all along Florida
Rockville, Md., September 20, 2022 /PRNewswire/ — Building on its extended stay growth strategy, Choice Hotels International, Inc. (NYSE: CHH), has signed an agreement to July 29, 2022with Coloradoreal estate investment firm ServiceStar Capital Management, one of the nation’s largest extended-stay developers, to develop 21 new Everhome Suites hotels. This transaction represents Choice’s largest investment in the brand, outlining significant expansion across the United States with future Everhome suites planned in Colorado, Arizona, Utah, Nevada and Florida over the next few years.
“Everhome Suites combines decades of Choice Hotels’ midrange hotel expertise with our proven extended-stay operating model, and this commitment from ServiceStar, one of the most experienced extended-stay investors, confirms the opportunity savvy developers see in this segment. It’s no secret that the extended stay segment has delivered incredible resilience and high returns in any environment,” said Patrick Pacious, President and CEO, Choice Hotels. “Everhome is poised for major growth, with the first hotel set to open this month and over 30 more already in development. Key to the brand’s continued success is our continued collaboration with growth-oriented investors/developers like ServiceStar, whose commitment fuels our shared goal of delivering new hotels in the right markets that meet the needs of longer-staying guests.”
Choice’s new brand, Everhome Suites, is a new build, mid-range extended-stay offering featuring accommodations specifically designed for the way guests live and work during long-term stays.
“Choice Hotels is a leader in extended stays and our new collaboration underscores our shared focus on profitability, which is key to our mutual success. We strongly believe in their ability to bring another highly successful brand to the segment guest market. mid-range extended stays will love, while offering franchisees its industry-leading ROI potential – which is precisely why we and our development partners are excited to grow our relationship with them,” said Marc DeRosedirector and co-founder, ServiceStar Capital Management.
In addition to investing in Everhome Suites, ServiceStar Capital Management and its development partners are developing more than 50 WoodSpring Suites hotels across the country, building on their existing portfolio of open and under-development WoodSpring properties. Colorado, Arizona, Utah, Nevada, Montana and Pennsylvania. They will also develop WoodSpring Suites in Atlanta, Georgia and all along Florida.
For more information on Everhome Suites development opportunities, visit choicehotelsdevelopment.com/everhome-suites.
About Everhome Suites
The never home The Suites brand, franchised by Choice Hotels, allows guests to build life their way during extended stays. Newly built hotels are designed to help maintain routine on the go with apartment-style suites featuring fully equipped kitchens and customizable “me” spaces including workstations, full-size closets, storage additional and spa-like bathrooms. The properties feature modern and sophisticated public spaces with fitness centers, business centers, libraries, laundry facilities and 24/7 self-service markets with a variety of shopping options. hot and cold breakfast with purchase. For more information, visit media.choicehotels.com/everhome-suites.
About Choice Hotels®
Choice Hotels International, Inc. ( New York stock market : CHH) is one of the largest gites franchisors in the world. Recently acquired choice Radisson Hotels Americas, adding to its portfolio nine brands, more than 600 hotels and approximately 67,000 rooms in the United States, Latin America, the Caribbean and Canada. With 22 brands, Choice Hotels has more than 7,500 hotels and nearly 650,000 rooms in 46 countries and territories as of August 11, 2022. The Choice® family of hotel brands offers business and leisure travelers a wide range of high-quality accommodation options, ranging from limited-service to full-service hotels in the upper, upper-midrange, midrange, extended stays and economy segments. Award-Winning Choice Privileges® The loyalty program gives members a faster way to earn rewards, with personalized benefits from day one. For more information, visit www.choicehotels.com.
This communication includes “forward-looking statements” about future events, including planned developments and hotel openings. These statements are subject to numerous risks and uncertainties, including construction delays, availability and cost of financing, and other “risk factors” described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10. -Q, each of which could cause actual results to differ materially from our expectations.
This is not an offering. No offer or sale of a franchise will be made except by a franchise disclosure document filed and registered with the appropriate state authorities. A copy of the Franchise Disclosure Document may be obtained by contacting Choice Hotels International at 1 Choice Hotels Circle, Suite 400, Rockville, MD 20850, [email protected].
© 2022 Choice Hotels International, Inc. All rights reserved.
SOURCE Choice Hotels International, Inc.