Choice Hotels' Extended Stay Portfolio Progresses Westward Expansion
Choice Hotels International (NYSE: CHH) has announced the groundbreaking of a new WoodSpring Suites hotel in Corona, Southern California. This 122-room extended stay property is set to open in late 2023, expanding Choice's footprint in California. The hotel will feature smoke-free rooms with kitchen amenities, a 24-hour fitness center, and complimentary amenities for guests. The development is part of a broader strategy that includes multiple new properties, aiming to meet the rising demand for extended stay accommodations across the U.S.
- Groundbreaking of 122-room WoodSpring Suites in Corona, enhancing California's extended stay portfolio.
- Expansion reflects growing demand for extended stay accommodations, positioning CHH favorably in the market.
- Features include fully equipped kitchens and a 24-hour fitness center, catering to diverse guest needs.
- Increased developer interest in extended stay segment, indicating robust growth potential for CHH.
- None.
WoodSpring Suites groundbreaking in Southern California underscores growing nationwide demand
ROCKVILLE, Md., Dec. 14, 2022 /PRNewswire/ -- WoodSpring Suites--the industry's largest economy extended stay brand from Choice Hotels International, Inc. (NYSE:CHH)--continues its successful nationwide expansion with the groundbreaking of the WoodSpring Suites Corona. Situated just an hour south of Los Angles and expected to open in late 2023, the 122-room hotel marks the latest addition to Choice's growing lineup of extended stay properties across California, joining the inaugural Everhome Suites Corona, as well as the largest MainStay Suites hotel, recently opened in greater Los Angeles.
Representatives from Choice Hotels and developer Gold Coast Premier Properties attended a formal groundbreaking ceremony to commemorate the development milestone and express their excitement for the new hotel and growing WoodSpring Suites brand.
"While our successful stewardship of WoodSpring Suites reinvigorated developer interest in the extended stay segment, our lean operating model--designed to help owners maximize returns in practically any economic environment--coupled with our proven ability to innovate new extended stay products and solutions is why Choice remains an industry leader," said Anna Scozzafava, vice president and general manager, extended stay, Choice Hotels. "Gold Coast has been an essential part of Choice's extended stay success story from the very start, helping to take the WoodSpring Suites brand to new heights and new markets over the past three years. We could not be prouder to embark on yet another growth chapter with franchisees who share our vision for the brand and commitment to suit guests' needs and lifestyles with comfortable and affordable accommodations."
Located at 2370 Tuscany Street, the new WoodSpring Suites in Corona is a short drive from top area employers including 3M, Kaiser Permanente, Keller Williams, Merrick Engineering, Monster Beverage and US Foods. Like all WoodSpring Suites hotels, the property is also purpose-built for the unique needs of extended stay travelers and will offer the following features:
- Three suite layouts—all of which are 100-percent smoke free, pet friendly, and equipped with an in-room kitchen featuring a full-size refrigerator, microwave, and stovetop.
- Expanded lobby with a coffee station.
- Free Wi-Fi and guest parking.
- 24-hour fitness center.
- Guest laundry room.
"Developers are realizing now is the time to invest in extended stay, and from real estate support and brand prototype design to ongoing operational guidance, Choice Hotels delivers value and performance guests and owners can count on," said Raul Garcia, CEO of Gold Coast Premier Properties. "The WoodSpring team has been an incredible collaborator as we've rapidly scaled our extended stay portfolio over the past few years, and we look forward to bringing the brand's affordable, smartly-designed accommodations to Southern California and beyond."
The WoodSpring Suites Corona is one of several WoodSpring properties developed by Gold Coast Premier Properties. In addition to nine hotels open in Florida and South Carolina, the Florida-based development firm has three WoodSpring Suites under active construction and agreements to bring four additional hotels to market in California, Connecticut, North Carolina, and Rhode Island. Underscoring its ongoing westward expansion efforts, Choice Hotels also finalized an agreement earlier this year with ServiceStar Capital to build more than 50 WoodSpring Suites and nearly two dozen Everhome Suites hotels in Colorado, Arizona, Utah, and Nevada, and unveiled plans in August to develop six additional MainStay Suites throughout California.
"Demand for extended stay has never been higher--and with Choice's newly refreshed Suburban Studios and WoodSpring Suites in economy extended stay to MainStay Suites and Everhome Suites in the midscale arena, there is no shortage of opportunity in this highly-desired segment," said Ron Burgett, senior vice president, franchise development, extended stay, Choice Hotels. "Our ongoing collaboration with many of the nation's top extended stay investors is a testament to our record helping growth-minded owners accelerate their extended stay development goals, and a preview of the tremendous growth still to come."
For more information about Choice's extended stay development opportunities, visit www.choicehotelsdevelopment.com.
About WoodSpring Suites®
WoodSpring Suites hotels offer extended stay guests a welcoming environment and straightforward stay – all affordably priced. Franchised by Choice Hotels, WoodSpring Suites is the nation's fastest-growing economy extended stay hotel brand. Each property is newly constructed and built to anticipate the needs of travelers looking for a longer-term stay. Properties feature all-suite rooms with fully equipped kitchens, flexible workspaces, and guest laundry facilities. There are more than 200 WoodSpring Suites hotels open in 32 states and 205 hotels in the pipeline across the U.S. as of September 30, 2022. For more information, visit www.woodspring.com/ourbrand.
About Choice Hotels®
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. Choice Hotels has more than 7,500 hotels, and nearly 630,000 rooms, in 46 countries and territories as of September 30, 2022. The Choice® family of hotel brands provide business and leisure travelers with a broad range of high-quality lodging options from limited service to full-service hotels in the upper upscale, upper mid-scale, midscale, extended-stay and economy segments. The award-winning Choice Privileges® loyalty program offers members a faster way to rewards, with personalized benefits starting on day one. For more information, visit www.choicehotels.com.
Forward-Looking Statement
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, development@choicehotels.com.
© 2022 Choice Hotels International, Inc. All rights reserved.
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SOURCE Choice Hotels International, Inc.
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