(Rockville,
MD) More than 7,000 hotel properties in
more than 40 foreign countries, make up Choice Hotels International’s current
portfolio of franchised hotels. An
approximated 575,000 hotel guestrooms, are the cumulative total of these more
than 7,000 hotel properties. This
interesting fact is based on released information, which is dated, September 30th, 2019. Incidentally, these franchised hotels, can
also be referred to as, hotel brands. As
a business entity that, is the franchisor of hotel brands; Choice Hotels
International, Inc. aims for a customer base of business and leisure
travelers. Through a sample of high
quality hotel lodging options, business and leisure travelers are seductively
pulled into, the Choice Hotels family of brands. In turn this family of brands offers limited
service, and, full service hotels. The
former and the latter are in the upscale, midscale, extended stay and economy
lodging business segments. Recently,
Choice Hotels International, Inc. announced that, its portfolio of franchised
hotels is as strong as ever.
Specifically, the aforementioned business revealed that, it has launched
a new extended stay hotel brand. This
new extended stay hotel brand is appropriately named, Everhome Suites. The latter, is meant for the midscale
extended stay lodging business segment.
The midscale extended stay lodging
business segment, now includes Choice Hotels International’s Everhome
Suites. This is due to the fact that,
the first Choice Hotels Everhome Suites, has broken ground. The groundbreaking ceremony occurred in Corona,
California U.S.A. Obviously, the groundbreaking ceremony was
also, the official brand launch. As an
event, the brand launch includes the signing of a multiple unit development
agreement. The latter; is 13 Everhome
Suites hotels in the Austin Texas, and, Los Angeles
California markets. The first Everhome Suites hotel, is expected
to open sometime in the year, 2021. Continuing with this line of thought, the
Everhome Suites brand, is in step with Choice Hotels International’s business
objectives or model. In fact, once it
has been completely opened to the general public, the following two things are
expected. First, the Everhome Suites brand
is expected to open in newly constructed hotel buildings. The idea and under the Choice Hotels business
model, is the maintenance of routine whilst on the road, through, apartment
style hotel suites. Fully equipped
kitchens, a “me” space, a workstation, a full size closet, a storage space and
a spa like bathroom is how; the previously stated will be accomplished. Second, these newly built hotel buildings
will be highlighted by the following.
Modern spaces, sophisticated public spaces, a fitness center, a business
center, a library, a guest laundry facility and a 24/7 self-service market;
will highlight the newly built hotel buildings.
Returning to, the brand launch, the
aforementioned is also meant to entice potential franchisees. Potential franchisees will be delighted to
know that, Everhome Suites are purpose built.
Another way of saying purpose built is, resilient during economic
downturns. For example, during the hotel
economic downturns of the years; 2001 and 2007-2009, the following occupancy
rates were experienced for midscale extended stay hotels. The occupancy rates were 70% for the 2001
hotel economic downturn, whilst, the occupancy rates were 65% for the 2007-2009
hotel economic downturn. Overall, the
following six things should help place on the marquee an Everhome Suites hotel,
for a potential franchisee. The first
thing is, an Everhome Suites hotel deploys a successful area development
model. The latter, gives potential
franchisees the freedom, to grow in any desired market. The second thing is, an Everhome Suites hotel
deploys a unique and proprietary site modeling tool. The latter, gives potential franchisees the
information so that, he or she can select the perfect location for the Everhome
Suites hotel. The third thing is; an
Everhome Suites hotel comes with development support, and, flexible prototypes. The fourth thing is, an Everhome Suites hotel
has an extremely competitive cost. The
fifth thing is, an Everhome Suites hotel comes with a proven business operations
model. The sixth thing is, an Everhome
Suites hotel as a brand fits perfectly, with the needs of the hotel
market.
To end, Choice Hotels International,
Inc. (NYSE: CHH) did release press
statements. Ron Burgett is the Vice
President of Franchise Development, Extended Stay at Choice Hotels
International, Inc. Through a press
statement, Mr. Burgett said the following.
“There is no better time to invest in extended stay than now. Whether you’re looking to build a new
construction hotel or convert an existing asset, whether your price point is
aligned with economy or midscale brands, or whether you want to sign a single
franchise agreement or enter into a multi-unit development agreement, Choice
has an extended-stay brand for you.”
Anna Scozzafava is the Vice President of Brand Strategy and Operations,
Extended Stay at Choice Hotels International, Inc. Through a press statement, Ms./Mrs.
Scozzafava said the following. “The
demand for hotel stays of seven-plus nights is nearly 20% of all room nights
sold, yet only 9% of the supply is in the extended-stay segment, according to
data from The Highland Group and Kalibri Labs.
Everhome Suites sets out to capture this unmet demand with fresh, modern
hotels that satisfy value-conscious consumer preferences for longer-term
stays. Our target guest is driven to be
successful personally and professionally, and we designed Everhome Suites to
empower them to live and work more efficiently on the road so they can tackle
whatever comes next.” David Pepper is
the Chief Development Officer of Choice Hotels International, Inc. Through a press statement, Mr. Pepper said
the following. “There’s a reason institutional
capital and smart investors are drawn to Choice’s extended stay brands: our proprietary operating model can help
drive higher margins, occupancy rates and anticipated returns in practically
any economic environment. Developers
recognize our long track record of extended-stay success and our brands are in
high demand—Choice Hotels brands represent nearly 20% of the industry’s total
extended-stay room count pipeline, according to data from STR.” Patrick Pacious is the President and the
Chief Executive Officer of Choice Hotels International, Inc. Through a press statement, Mr. Pacious said
the following. “Nobody knows the popular
midscale segment better than Choice—the company that started it. We more than tripled the size of our
extended-stay portfolio over the past two years and now have over 400 hotels
across our well-known brands: WoodSpring
Suites, MainStay Suites and Suburban Extended Stay. With rooms and public spaces designed to be
just as flexible as guests are, backed by our proven extended-stay operating
model, Everhome Suites provides franchisees with another opportunity to
capitalize on one of the fastest-growing segments of the hotel industry.” As previously stated, Choice Hotels International,
Inc. recently announced that, its portfolio of franchised hotels is as strong
as ever. Specifically, the
aforementioned business revealed that, it has launched a new extended stay
hotel brand. This new extended stay
hotel brand is appropriately named, Everhome Suites. The latter, is meant for the midscale
extended stay lodging business segment.
Lastly, the first Choice Hotels Everhome Suites, has broken ground. The groundbreaking ceremony occurred in Corona,
California U.S.A.
###
Written
from Press Release
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R-Berumen28
01/31/2020
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