Choice Hotels is proud to offer AARP members discounts on over 7,000 Hotels Across 22 Hotel Brands
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Insights
The partnership between Choice Hotels International and AARP to offer discounts to AARP members is a strategic move that can potentially increase the customer base for Choice Hotels. With the aging population and the high propensity for travel among the 50-plus demographic, this collaboration taps into a significant market segment. The 10% discount serves as an incentive for AARP's nearly 38 million members to prefer Choice Hotels over competitors, which could lead to an increase in occupancy rates and revenue for the hotel franchisor.
Furthermore, the targeted communication through Choice and AARP channels ensures that the marketing efforts are focused and likely to reach the intended audience efficiently. It is important to monitor the uptake of this offer and its actual impact on the company's financial performance in subsequent quarters. The success of such a partnership could set a precedent for similar deals in the hospitality industry, influencing customer loyalty and brand preference.
Investors should consider the potential revenue implications of the agreement between Choice Hotels and AARP. The discount offering is likely to attract a higher volume of bookings from AARP members, which could positively affect the average daily rate (ADR) and revenue per available room (RevPAR), two critical metrics in the hospitality industry. However, it is crucial to balance the increased volume against the reduced rate per booking due to the discount.
Choice Hotels' strategic decision to partner with AARP may also be viewed favorably by the stock market as an effort to diversify its customer base and strengthen its competitive positioning. If the agreement leads to a sustained increase in bookings, it could potentially have a positive impact on the company's stock price. Nonetheless, investors should look for evidence of this strategy's effectiveness in the company's quarterly earnings reports and any changes in market share.
From an economic standpoint, the agreement between Choice Hotels and AARP reflects a broader trend of businesses tailoring their offerings to specific demographic groups with strong purchasing power. The travel industry, in particular, benefits from understanding and catering to the preferences of the baby boomer generation, which includes a significant portion of AARP's membership. This demographic is known for its disposable income and willingness to spend on travel and leisure.
The initiative could also stimulate economic activity in the destinations popular among the 50-plus age group, as increased travel could lead to higher spending on local businesses and services. However, the overall economic impact will depend on the extent to which the discount encourages new travel versus simply shifting existing travel preferences to Choice Hotels.
"We are delighted to provide AARP's nearly 38 million members with discounts on hotel accommodations," said Abhijit Patel, vice president, revenue management and distribution, Choice Hotels. "Many AARP members are avid travelers who frequently book hotel accommodations, and Choice's portfolio offers members a diverse range of hotels to meet their needs. We are excited to extend our commitment to exceptional experiences and value to the AARP member community."
According to AARP Research's 2023 Travel Trends Study, the most popular destinations in 2023 for the 50-plus were
Through this agreement, AARP members will enjoy a
"We are excited that AARP members may choose Choice Hotels in popular destinations across the globe," said Jason Mugg, senior vice president of lifestyle, AARP. "Their reach offers AARP members a broad selection of brands and properties with a discount to meet their needs."
Reservations can be made directly on ChoiceHotels.com, through Choice's reservation line at (800)-228-5050, hotel sites, or travel agencies. For more information about Choice Hotels and how to use your AARP member benefit, please visit www.choicehotels.com/deals/aarp.
About Choice Hotels®
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. The challenger in upscale and a leader in midscale and extended stay, Choice® has over 7,500 hotels, representing more than 630,000 rooms, in 46 countries and territories. A diverse portfolio of 22 brands that range from full-service upper upscale properties to midscale, extended stay and economy enables Choice® to meet travelers' needs in more places and for more occasions while driving more value for franchise owners and shareholders. The award-winning Choice Privileges® rewards program and co-brand credit card options provide members with a fast and easy way to earn reward nights and personalized perks. For more information, visit www.choicehotels.com.
About AARP
AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence, AARP strengthens communities and advocates for what matters most to the more than 100 million Americans 50-plus and their families: health security, financial stability and personal fulfillment. AARP also produces the nation's largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org/about-aarp/, www.aarp.org/español or follow @AARP, @AARPenEspañol and @AARPadvocates on social media.
About AARP Services
AARP Services, founded in 1999, is a wholly-owned taxable subsidiary of AARP. AARP Services manages the provider relationships for and performs quality control oversight of the wide range of products and services that carry the AARP name and are made available by independent providers as benefits to AARP's millions of members. The provider offers currently span health products, financial products, travel and leisure products, and life event services. Specific products include Medicare supplemental insurance; credit cards, auto and home, mobile home and motorcycle insurance, life insurance and annuities; member discounts on rental cars, cruises, vacation packages and lodging; special offers on technology and gifts; pharmacy services and legal services. AARP Services also engages in new product development activities for AARP and provides certain consulting services to outside companies.
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SOURCE Choice Hotels International, Inc.
FAQ
What is the partnership between Choice Hotels International, Inc. and AARP about?
What kind of discount will AARP members receive on their hotel stays?
Where can reservations be made for the discounted hotel stays?
Which popular destinations were highlighted in AARP Research's 2023 Travel Trends Study?
Who are the key individuals mentioned in the press release?
