Choice Hotels' Upscale Brands Continue Segment Leadership
Ascend Hotel Collection and Cambria Hotels See 33% Increase in U.S. Room Count in Third Quarter 2020
Choice Hotels International, Inc.'s (NYSE: CHH) popular upscale brands, the Ascend Hotel Collection and Cambria Hotels, achieved impressive year-over-year room count growth and outperformed local competitors in RevPAR share gains in the third quarter of 2020. The success of Ascend, a global portfolio of resort, boutique and historic hotels, and Cambria, which is designed for modern travelers and offers a distinct local experience, further validates the company's strategic focus on growing this revenue-intense segment.
Choice's upscale brands experienced several notable achievements in the third quarter, including:
- Ascend Hotel Collection outperformed the upscale segment in year-over-year revenue per available room (RevPAR) change by over 26 percentage points, while achieving RevPAR share gains of nearly 19 percentage points and average daily rate index gains of approximately 9 percentage points against local competitors. In fact, for the past six months, Ascend has significantly outperformed upscale soft brands and the segment overall in terms of year-over-year RevPAR change.
- Cambria Hotels: achieved RevPAR share gains versus local competitors of nearly 15 percentage points.
- These brands combined increased Choice's domestic upscale room counts by an impressive 33%, despite the COVID-19 pandemic.
"Just as guests love Ascend and Cambria hotels, developers continue to seek out Choice brands to boost the value of their hotels," said Mark Shalala, senior vice president of development, upscale brands, Choice Hotels. "While Ascend continues to extend its leadership position as the industry's first and largest soft brand, Cambria's pipeline of nearly 80 hotels makes it one of the top hotel brands expanding in North America, as recently ranked by TOPHOTELNEWS."
For more information about Choice's upscale development opportunities, visit https://choicehotelsdevelopment.com.
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.
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.
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