Everhome Suites Debuts in Kentucky, Continuing the Brand's Growth

Rhea-AI Summary

Choice Hotels International (NYSE: CHH) has opened a new Everhome Suites in Lexington, Kentucky, marking its fourth operational Everhome Suites. The company boasts over 60 Everhome Suites in development and 20 currently under construction, with more than 10 expected to open within the next year. As of Q1 2024, Choice Hotels has a pipeline of over 400 properties across its four extended stay brands. The Everhome Suites Lexington North, developed by New Circle Investments and managed by H&W Hotels, features 114 rooms and offers amenities like fully equipped kitchens, spa-style bathrooms, and free Wi-Fi. Choice Hotels' extended stay portfolio grew by 17.4% from March 31, 2023, to March 31, 2024.

Positive

• Choice Hotels has over 60 Everhome Suites in development and 20 under construction.
• More than 10 new Everhome Suites are expected to open within the next year.
• The company's extended stay portfolio grew by 17.4% from March 31, 2023, to March 31, 2024.
• Choice Hotels has a pipeline of over 400 properties across its extended stay brands as of Q1 2024.
• The new Everhome Suites Lexington North offers modern amenities like fully equipped kitchens, spa-style bathrooms, and free Wi-Fi.
• Choice Hotels provides extensive support to franchisees, including site selection, development, operations, sales, and marketing.

Negative

• The press release does not provide specific financial data or projections for the new Everhome Suites.
• Potential risks include market saturation in the extended stay sector and competition from other brands.
• Costs associated with developing and constructing 60+ Everhome Suites could impact short-term profitability.

Choice Hotels Continues Growth in Extended Stay, with Over 60 Everhome Suites in Development and 20 Under Construction

NORTH BETHESDA, Md., June 11, 2024 /PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, continues to strengthen its leadership position in extended stay with a new Everhome Suites opening in Lexington, Kentucky. With this opening, the company has four Everhome Suites open, over 60 in development, 20 under construction, and more than 10 are expected to open within the next year. In the category, Choice has more than 400 properties in the pipeline across its four extended stay brands, as of the first quarter of 2024. Choice's domestic extended stay hotel portfolio grew by 17.4% from March 31, 2023 to March 31, 2024, driven by increases in economy and midscale extended stay brands.

"At Choice Hotels, we were pioneers in the extended stay hotel category, and our first-mover advantage has been solidified by the performance track record of our extended stay brands," said Matt McElhare, vice president and lead for extended stay brands, Choice Hotels. "Our deep expertise and comprehensive understanding of extended stay have positioned us to help our franchisees successfully launch and expand the Everhome Suites brand across key markets including Lexington, Kentucky. With a dedicated team of nearly 70 experts, we provide unparalleled support from site selection and development to operations, sales, and marketing. Our ongoing investment in the category ensures that we continue to lead and innovate from the front in the highest opportunity categories within extended stay."

Everhome Suites Lexington North is a four-story, 114-room hotel located off I-64 in the heart of Lexington. Developed by New Circle Investments and managed by H&W Hotels, Everhome Suites will serve the University of Kentucky market and the greater Lexington area. Guests can experience Kentucky horse racing history at Red Mile Gaming & Racing, major events at the Rupp Arena, and visit the Central Bank Center for conventions. This hotel features a mural that is a tribute to the Kentucky Wildcats team and highlights pivotal moments and players, created by OSRS.

Everhome Suites offers the comforts of home along with many other convenient amenities, including:

• Every room has a fully equipped kitchen with full-sized refrigerator, dishwasher, stovetop, microwave, flatware, cookware and plenty of counter space
• Spa-style bathrooms with high-quality fixtures
• Large closets and additional open and closed storage
• Select number of premium one-bedroom suites featuring in-room washer and dryer
• Locally inspired touches including artwork, food and beverage offerings in the HomeBase Market, and a signature mural at the main entrance
• Weekly housekeeping
• Free WiFi
• Pet-friendly options
• Contemporary multipurpose lobby
• Communal outdoor amenity area with barbeque grills, firepits, and green spaces; pools at select locations
• 24/7 self-serve, tech-enabled Homebase Market with food, beverages and groceries
• 24/7 fitness center with state-of-the-art cardio and strength-training equipment, including Peloton bikes
• 24/7 guest laundry facilities

Everhome Suites participates in Choice Privileges, the award-winning rewards program where members earn points on eligible charges during their stay, which can be redeemed for reward nights at over 7,000 hotels across a diverse portfolio of brands in 45 countries and territories. With the Choice Privileges Mastercard, members can earn more points faster, including on everyday purchases.   

Choice Hotels, with a franchise-first focus and an industry-leading retention rate, has been committed to providing its hotel owners with the support they need to succeed since it launched the country's first hotel chain in 1941. Today, Choice offers franchisees a suite of cutting-edge cloud-based solutions, including the choiceEDGE guest reservation platform and the choiceADVANTAGE property management system to help franchisees effectively manage room rates, distribution channels, and inventory.

For more information on Everhome Suites development opportunities, visit choicehotelsdevelopment.com/everhome-suites.  

Everhome Suites®: Closer to Home 
The Everhome Suites brand provides a Closer to Home™ experience that enables guests to live life on their terms during longer-term stays. The new construction midscale hotels are designed to help extended stay guests maintain routine on the road with spacious suites with long stay amenities featuring fully equipped kitchens, spa-style bathrooms, and customizable "me" spaces, including movable workstations, full-size closets, and additional storage. Everhome Suites properties have modern and sophisticated public spaces, 24/7 fitness centers with Peloton bikes, guest laundry facilities, free Wi-Fi, and self-service marketplaces with a variety of fresh and frozen meal and grocery options. For more information, visit www.choicehotels.com/everhome-suites.  

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 nearly 7,500 hotels, representing more than 630,000 rooms, in 45 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. 

Forward-Looking Statements  
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 915 Meeting St, Suite 600, North Bethesda, MD 20852, email: development@choicehotels.com.  

© 2024 Choice Hotels International, Inc. All Rights Reserved  

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/everhome-suites-debuts-in-kentucky-continuing-the-brands-growth-302169016.html

SOURCE Choice Hotels International, Inc.

FAQ

What is the significance of the new Everhome Suites opening in Lexington, Kentucky?

The new Everhome Suites in Lexington, Kentucky, signifies Choice Hotels' expansion in the extended stay market and marks the fourth operational Everhome Suites.

How many Everhome Suites are currently in development by Choice Hotels?

Choice Hotels currently has over 60 Everhome Suites in development and 20 under construction.

What amenities does the new Everhome Suites in Lexington, Kentucky offer?

The Everhome Suites Lexington North offers amenities such as fully equipped kitchens, spa-style bathrooms, free Wi-Fi, and more.

How has Choice Hotels' extended stay portfolio grown recently?

Choice Hotels' extended stay portfolio grew by 17.4% from March 31, 2023, to March 31, 2024.

What is the pipeline status of Choice Hotels' extended stay brands as of Q1 2024?

As of Q1 2024, Choice Hotels has a pipeline of over 400 properties across its four extended stay brands.