Choice Hotels Awards MainStay Suites Franchise Agreements To Its Largest Privately Owned Extended Stay Franchisee
ROCKVILLE, Md. - Choice Hotels International, Inc. (NYSE: CHH) has awarded two MainStay Suites franchise agreements to longtime Choice franchisee and multi-unit developer Gulf Coast Hotel Management, Inc. The latest signings add to Gulf Coasts' growing portfolio of extended stay properties, which now total 39 hotels and make them the largest privately owned extended stay franchisee in the Choice system.
The two recently converted hotels are located in Wichita, KS and Overland Park, KS, furthering the brand's foothold in the midscale extended stay segment.
"Nationwide, there is far more demand for extended stay properties than there is supply, which is why we have seen such an uptick in franchisees focusing on the segment," said Ron Burgett, senior vice president, franchise development, extended stay, Choice Hotels. "Sophisticated owners and investors such as Gulf Coast Hotel Management were ahead of the curve in recognizing this value and were strategically positioned to maximize the return-on-investment potential of their MainStay and WoodSpring Suites hotels throughout the pandemic. We look forward to helping them take their resilient portfolio to the next level in the years to come."
Choice Hotels has operated in the extended stay segment since its infancy when it added the Suburban Extended Stay brand nearly two decades ago. Today, Choice features the newly refreshed Suburban Studios and WoodSpring Suites brands in economy extended stay and MainStay Suites and Everhome Suites in midscale extended stay. A leader in the segment, Choice has enhanced the extended stay operating model to help maximize developers' return on investment and offers best-in-class design, industry-leading tailored support and dedicated sales training.
These new MainStay Suites hotels, purposefully designed for long-staying guests, feature spacious, apartment-style suites with fully equipped kitchens and hotel amenities such as fitness rooms, on-site marketplaces, and guest laundry facilities.
"Across the industry, Choice has a reputation for building brands that resonate strongly with guests while delivering exceptional results for owners, and their robust extended stay portfolio is no exception. Each of the company's extended stay brands is cycle-resistant and purpose-built to suit the evolving needs of travelers for today and tomorrow, making it a savvy investment," said Ian McClure, CEO, Gulf Coast Hotel Management, Inc. "It's why we were among the first to sign multi-pack development deals for the company's MainStay and WoodSpring brands two years ago, and why we're proud to build on our relationship with these additional development agreements today."
For more information about Choice's extended stay development opportunities, visit choicehotelsdevelopment.com.
About Gulf Coast Hotel Management, Inc.
Gulf Coast Hotel Management, Inc. operates 40 hotels in 13 states and is dedicated to the high-level and professional operation of hotels to provide superior service and accommodations for our guests, personal and professional growth and a positive workplace for our associates and strong financial performance and return on investment for ownership. Our senior operations team of dedicated professionals brings decades of relevant experience and expertise and a track record of success in all areas of hotel operations. For more information, visit www.gulfcoasthm.com
About Choice Hotels®
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. The challenger in the upscale segment 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.
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.
