Choice Hotels Continues Texas Midscale Expansion with Multi-Unit Agreement
Five New-Construction Sleep Inn Hotels Coming to Houston Area
All five Houston-area Sleep Inn hotels will have four stories and 60 rooms. The hotels will be built in the following cities:
- Crosby, Texas
- Waller, Texas
- Liberty, Texas
- Dayton, Texas
- Humble, Texas
The locations are within driving distance to several major corporate headquarters in the region's booming energy industry, including ConocoPhillips, Enterprise Products Partners, and Plains All American Pipeline. Once open, the hotels will be a short distance from popular leisure attractions, such as Minute Maid Park, NRG Stadium, and The Galleria shopping mall.
"Houston, an ever-growing city, has thriving industries in healthcare, energy, and manufacturing," said Sazmin Momin, Owner, Legacy Partners LLC. "We knew signing this agreement to develop properties with Choice was a good investment. Sleep Inn's prototype targets both business and leisure travelers that are looking for an inviting, simple but timeless space - the ultimate 'home away from home'."
"We are fortunate to be given an opportunity to grow and represent Choice Hotels in communities across Houston. These properties, once completed, will be a wonderful addition to our service portfolio as a company," said Afsha Maknojia, Owner, Legacy Partners LLC.
Sleep Inn's Designed to Dream prototype and nature-inspired aesthetic have sparked its rapid expansion across the U.S. and resonated with guests. Choice Hotels also recently unveiled a new Sleep Inn logo with a cursive design and eclipsing moon against its signature purple background. Sleep Inn hotels are planned to open in top markets across the U.S., including in Bronx, N.Y., Oklahoma City, and Spokane, Wash.
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. With more than 7,000 hotels, representing over 590,000 rooms, in over 40 countries and territories as of December 31, 2019, the Choice® family of hotel brands provide business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upscale, midscale, extended-stay and economy segments. The award-winning Choice Privileges® loyalty program offers members benefits ranging from everyday rewards to exceptional experiences. For more information, visit www.choicehotels.com.
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, our use of words such as "expect," "estimate," "believe," "anticipate," "should," "will," "forecast," "plan," "project," "assume," or similar words of futurity identify such forward-looking statements. These forward-looking statements are based on management's current beliefs, assumptions, and expectations regarding future events, which, in turn, are based on information currently available to management. Such statements may relate to projections of the company's revenue, earnings, and other financial and operational measures, our liquidity, our ability to assist franchisees through relief or other financial measures, our ability to minimize or manage disruptions posed by COVID-19, and the impact of COVID-19 and economic conditions on our future operations, among other matters. We caution you not to place undue reliance on any such forward-looking statements. Forward-looking statements do not guarantee future performance and involve known and unknown risks, uncertainties, and other factors.
Several factors could cause actual results, performance, or achievements of the company to differ materially from those expressed in or contemplated by the forward-looking statements. Such risks include, but are not limited to, continuation or worsening of COVID-19 pandemic; changes in consumer demand; the impact of COVID-19 on the global hospitality industry, particularly in the U.S. travel market, changes to general, domestic, and foreign economic conditions, including as a result of COVID-19; future global outbreaks of pandemics or contagious diseases or fear of such outbreaks; foreign currency fluctuations; operating risks common in the lodging and franchising industries; impairments or losses relating to acquired businesses, changes to the desirability of our brands as viewed by hotel operators and customers; changes to the terms or termination of our contracts with franchisees; our ability to keep pace with improvements in technology utilized for marketing and reservations systems and other operating systems; our ability to grow our franchise system; exposure to risks related to our hotel-development, ownership and financing activities; fluctuations in the supply and demand for hotels rooms; our ability to realize anticipated benefits from acquired businesses; the level of acceptance of alternative growth strategies we may implement; operating risks associated with our international operations, especially in areas currently most affected by COVID-19; the outcome of litigation; and our ability to manage our indebtedness. These and other risk factors are discussed in detail in the company's filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our quarterly reports filed on Form 10-Q. Except as may be required by law, we undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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