ROCKVILLE, Md., March 20, 2018 /PRNewswire/ -- Choice Hotels
International, Inc. (NYSE: CHH), franchisor of Cambria Hotels,
recently began a new effort centered on multi-unit development to
help grow the brand even more rapidly. On the heels of opening its
10th property in 10 months earlier this year, the
expanded approach will use part of the $475
million in capital support the company has earmarked for the
Cambria brand to target developers that will build multiple
properties.
"The Cambria brand is coming off a record year of growth in 2017
and progress continues. While we will continue to invest in
individual projects, we are experiencing strong demand from the
development community as well as institutional capital partners who
want to develop and invest in multiple projects with us," said
Mark Shalala, vice president,
development, upscale brands, Choice Hotels. "Taking a more
programmatic investment approach with multi-unit developers is a
winning strategy. It can dramatically help accelerate growth while
driving product and operational consistency across the chain. This
helps increase brand equity for our owners and, most importantly,
it improves the overall guest experience from market to market. For
our developers, this approach establishes a consistent investment
platform and level of capital participation from Choice. It helps
improve return on investment and can make it easier to raise equity
and secure debt for their projects, a critical factor at this point
in the cycle."
As a part of the investment strategy, Choice will be teaming up
with several developers to expand the Cambria brand, including Four
Raines Development and Fillmore Capital Partners.
"Cambria Hotels is a tremendous product that guests love, and
our collaboration with Choice, which provides everything
imaginable, is second to none. We have worked closely for several
years now and our familiarity with one another makes it an easy
decision to agree to build more hotels together," said Grey Raines,
managing partner of Four Raines Development.
There are now nearly 120 Cambria hotels open or in the pipeline,
located in 75 percent of the top 50 U.S. RevPAR markets. The brand
delivered a strong performance in 2017 with a high LTR and results
outpacing the industry in RevPAR, OCC and ADR.
The latest Cambria openings include a mix of new construction
and adaptive reuse projects:
- Cambria Hotel Phoenix Chandler – Fashion Center (opened
January 31, 2018, Arizona) – Located near Loops 101 and 202, the
136-room property is part of the Chandler Viridian, a 25-acre
mixed-use development project that includes office space, luxury
apartments, retail offerings and a pedestrian promenade to the
Chandler Fashion Center.
- Cambria Hotel Nashville (opened January
16, 2018, Tennessee) – The
255-room hotel is located in the city's South of Broadway
neighborhood and is a short distance from top attractions such as
the Music City Center, Bridgestone Arena, Nissan Stadium and
Historic Broad Street.
- Cambria Hotel Dallas (opened December 31, 2017,
Texas) – The 177-room property is
an adaptive reuse project, formally known as the historic Tower
Petroleum building, located near businesses and leisure attractions
in the heart of downtown Dallas.
- Cambria Hotel North Scottsdale Desert
Ridge (opened December 21, 2017, Arizona) – Just
minutes from downtown Phoenix, the
130-room hotel is situated in Desert Ridge, which offers shopping
and dining options at the intersection of Highway
101 and Tatum Boulevard.
- Cambria Hotel Westfield (opened December
19, 2017, Indiana) – Part of
the Westfield Grand Park Village, the 152-room property is directly
across from Westfield's Grand Park Sports Campus and
a short drive from downtown Indianapolis.
- Cambria Hotel Downtown Asheville (opened December
16, 2017, North Carolina) –
The 136-room hotel offers guests rooftop views of Asheville's Blue Ridge Mountains and is
located near the city's award-winning craft breweries, restaurants,
art galleries and music venues.
- Cambria Hotel New Orleans Downtown Warehouse
District (opened October 10, 2017, Louisiana) – Situated in the heart of the Arts
and Warehouse District, the 162-room property is walking distance
from the French Quarter and minutes from the New
Orleans Convention Center.
- Cambria Hotel Newport (opened June 9, 2017,
Rhode Island) – The 143-room hotel
offers guests picturesque waterfront views and is a short distance
from Easton's Beach, the Naval
Station and the iconic Newport
mansions.
- Cambria Hotel Chicago Loop – Theatre
District (opened May 25, 2017, Illinois) – Situated
above the historic Ford Center for the Performing Arts Oriental
Theatre, 199-room hotel is the brand's first adaptive reuse project
and features décor that pays tribute to the building's colorful
past and unique design features.
- Cambria Hotel Los Angeles – LAX (opened May
1, 2017, California) – The
152-room property is the brand's first hotel on the west coast and
features design elements inspired by the surrounding
fashion-forward city. The property is just minutes from Los
Angeles International Airport.
"The Cambria brand is experiencing explosive growth," said
Janis Cannon, senior vice president,
upscale brands at Choice Hotels International. "Progress of this
scale and speed is the result of our tremendous development
collaborators as well as the demands of modern travelers who love
the stylish, yet approachable Cambria brand. We're starting off
strong in 2018 with openings in Nashville and Philadelphia, and we look forward to bringing
our great product to more guests' favorite cities, including
Boston before the end of the
year."
Future openings are planned in Austin,
Texas; Burbank, Calif.;
Baltimore; Calabasas, Calif.; Charleston, S.C.; Houston; Miami; Milwaukee; Minneapolis; Napa,
Calif.; Orlando, Fla.;
San Francisco; Tampa, Fla.; and Washington, D.C.
For more information on Cambria Hotels development
opportunities, please
visit https://choicehotelsdevelopment.com/cambriahotels/.
About Cambria Hotels
Cambria® Hotels are designed for
the modern traveler, offering guests a distinct experience with
simple, guilt-free indulgences allowing them to treat themselves
while on the road. Properties feature compelling design inspired by
the location, spacious and comfortable rooms, flexible meeting
space, and local freshly prepared food and craft beer. Cambria
Hotels is rapidly expanding in major U.S. cities, with hotels open
in Chicago, New York City, Pittsburgh, Washington, D.C., and Los Angeles. There are more than 35 Cambria
properties open across the United
States, and over 100 hotels open or in the pipeline in the
U.S. and Canada. To learn more,
visit www.cambriahotelsandsuites.com.
About Choice Hotels
Choice Hotels International, Inc.
(NYSE: CHH) is one of the world's largest hotel companies. With
over 6,800 hotels franchised in more than 40 countries and
territories, Choice Hotels International represents more than
500,000 rooms around the globe, and as of February 1, 2018, more than 1,000 hotels were in
its development pipeline. Our company's Ascend Hotel Collection®,
Cambria® Hotels, Comfort Inn®, Comfort Suites®, Sleep Inn®,
Quality®, Clarion®, MainStay Suites®, Suburban Extended Stay
Hotel®, WoodSpring Suites®, Econo Lodge®, Rodeway Inn®, and
Vacation Rentals by Choice Hotels® brands provide a spectrum of
lodging choices to meet guests' needs. With more than 35 million
members, our Choice Privileges® rewards program enhances every trip
a guest takes, with benefits ranging from every day rewards to
exceptional experiences, starting right when they join. All hotels
and vacation rentals are independently owned and operated. Visit us
at www.choicehotels.com for more information.
Forward-Looking Statement
This communication includes
"forward-looking statements" about future events, including
anticipated 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, 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,
development@choicehotels.com.
© 2018 Choice Hotels International, Inc. All Rights
Reserved.
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SOURCE Choice Hotels International, Inc.