Strong Results Across Multiple Segments
Underscores Effectiveness of Franchisee Success System
NORTH
BETHESDA, Md., Jan. 27,
2025 /PRNewswire/ -- Choice Hotels International,
Inc. (NYSE: CHH), one of the world's largest and most
successful lodging franchisors, celebrated another year of
development success across key brands and multiple segments in
2024. Choice achieved remarkable milestones over the course of the
year that underscore its position as a leader in the hospitality
industry and its strong potential for continued growth in 2025 and
beyond.
"Choice Hotels ran through the finish line in 2024, and we're
determined to build on that strong momentum in the coming year,"
said Choice Hotels International President and CEO Patrick Pacious. "Our unique revenue-intense
growth strategy and unyielding focus on driving our owners' revenue
up and their costs down will continue to power the future for
Choice and our hotel owners — and that future is bright."
Leading from the Front in Extended Stay
In the fast-growing extended stay segment, Choice matched its
previous annual record with a total of 61 hotel openings,
highlighted by the grand opening of its 500th extended
stay property in October. That growth included the opening of
25 WoodSpring Suites and six Everhome Suites hotels — both records
for the respective new-construction brands — as well as 16 MainStay
Suites and 14 Suburban Studios properties. WoodSpring, which was
named the #1 economy extended stay brand by the J.D. Power
North America Hotel Guest Satisfaction Index Study for a second
year in a row, accounted for 70% of all new hotels under
construction and 65% of all 2024 ground breaks in the segment, as
of November.
The One to Watch in Upscale
In the upscale segment, where Choice has become the industry's
one to watch, the company opened 27 new hotels, including 18 Ascend
Hotel Collection properties, an 80% year-over-year increase for the
brand, as well as seven Cambria Hotels and a pair of new Radisson
properties. The new upscale hotels include The Quincy, Ascend Hotel
Collection, in Washington, D.C.,
the Cambria Hotel Niagara Falls in New York, and the Radisson Fairview Heights –
St. Louis in Illinois. In its first full year since
Choice's integration of the Radisson Americas brands in 2023, the
upscale Radisson brand saw a nearly 7.5% year-over-year increase in
RevPAR, paving the way for continued growth.
Continuing the Momentum in Midscale and More
In midscale, where Choice has long been a leader, the company
opened 41 Quality Inn hotels in a year where the brand celebrated
its 85-year anniversary. Choice also drove strong development
growth across its upper midscale portfolio, with 26 openings for
its flagship Comfort brand and six for Country Inn & Suites by
Radisson. Choice continued to boost the value proposition offered
by Country Inn & Suites in 2024, driving a 19-point increase in
RevPAR Index, a 20% increase in direct online contribution and a
10% increase in revenue from the Global Sales team,
year-over-year.
Additional highlights from 2024 and early 2025 include:
- Relaunching Radisson Individuals as an upper upscale soft brand
to complement the Ascend Hotel Collection and relaunching Radisson
Blu and Radisson with new guestroom design packages. Earlier this
month, the company unveiled new logos for all three brands.
- Introducing a proprietary "Lobby in a Box" modular design
package that enables hoteliers to transform public spaces such as
lobby dining areas into multi-functional, revenue-generating spaces
in as little as 120 days for its Suburban Studios and MainStay
Suites extended stay conversion brands. The innovative solution
follows on the success of Choice's exclusive "Kitchen in a Box"
package.
- Opening 20 properties and awarding 37 franchise agreements —
both all-time highs — under its Supporting Ownership Access and
Representation (SOAR) program, which aims to attract, mentor and
support entrepreneurs from historically underrepresented groups on
their path to hotel ownership.
Capitalizing on Conversions
Choice is poised for continued growth in 2025 as it capitalizes
on its world-class conversion capability, which enables the company
to quickly move properties through its development pipeline,
providing tremendous value to new or existing owners in any market
conditions.
"Industry projections show that hotel demand growth will
continue to outpace supply growth this year and in 2026," explained
Dominic Dragisich, Executive Vice
President for Operations and Chief Global Brand Officer at Choice Hotels International.
"That's the type of environment in which our unrivaled hotel
conversion capability really shines. Our ability to efficiently
convert existing hotels into Choice-branded properties is a core
competency that will continue to help fuel the growth of our global
portfolio in 2025 and beyond."
About Choice Hotels®
Choice Hotels International, Inc. (NYSE: CHH), is one of
the largest lodging franchisors in the world. The one to watch in
upscale and a leader in midscale and extended stay, Choice® has
over 7,500 hotels, representing nearly 635,000 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 Street, Suite
600, North Bethesda, MD 20852, or
by email at development@choicehotels.com.
© 2025 Choice Hotels International, Inc. All Rights
Reserved
View original content to download
multimedia:https://www.prnewswire.com/news-releases/choice-hotels-international-celebrates-year-of-development-success-302360095.html
SOURCE Choice Hotels International, Inc.