By james art 
Choice Hotels International, Inc. (NYSE: CHH) is celebrating a key moment in its growth journey with the opening of its 500th extended stay property, Everhome Suites in Glendale, Arizona. This achievement underscores Choice’s rapid growth and leadership in the economy and mid-range extended stay market, driven by a guide that helps increase revenue and lower total cost of ownership with strategic new buildings and targeted redevelopments that meet the growing demand for accommodation from 7+ nights. Across the hospitality industry, Choice has the fastest-growing extended-stay economy portfolio and is the leader in the new-build economy category, according to August 2024 STR pipeline data. As of the end of the second quarter of 2024, Choice had more than 350 hotels in the pipeline across four extended-stay brands: Everhome Suites, WoodSpring Suites, Suburban Studios and MainStay Suites.
“Reaching 500 open extended-stay properties is a testament to our strategic focus on this high-growth category, proven extended-stay hotel operating model and tried-and-true brand prototypes, all of which make Choice’s expertise the best in the industry “, he said Patrick PacesPresident and CEO of Choice Hotels, International. “As we continue to grow, we are committed to working with developers to deliver high-quality, cost-effective properties that deliver an excellent long-term guest experience and unmatched financial returns.”
Targeting high demand markets to drive extended stay growth
There are 500th property, the newly opened Everhome Suites in Glendale, Arizonamarks the brand’s entry into one of the South West’s high growth regions. Located along the Nova Reka with scenic views and a riverside promenade, the hotel is close Luka air force base, Arizona Western State University Valley Campus, State Farm Stadium, Desert Diamond Casino, St. Joseph’s Westgate Medical Center and others. The property will serve the booming infrastructure projects and industries in the area, providing much-needed long-term accommodation options. Choice’s extended stay properties provide essential accommodations for a rapidly growing demographic of temporary workers, including infrastructure projects and other long-term stays that stimulate the economy.
With the addition of GlendaleChoice has six Everhome Suites open nationwide and more than 65 in the pipeline, including more than 20 under construction, with more than 15 expected to open in the next 12 months. WoodSpring Suites is on track for another record opening year with a forecast of 25 openings by the end of the year. The company also opened 13 MainStay Suites and Suburban Studios between January 1 and September 2024 in key Las Vegas markets; Moreno Valley, California; Orlando and Tampa, Florida.
“Our dedicated team of experts knows where there is unmet demand in the category and provides best-in-class support for our franchisees from site selection to opening and day-to-day operations,” said Matt McElhartVice President and Segment Lead for Extended Stay Brands, Choice Hotels International. “We are extremely proud to be a leader in one of the fastest growing segments in hospitality and look forward to opening the next 500 extended stay hotels.”
Demand for extended stays continues to outstrip supply, and with its Choice Maps platform, which analyzes proprietary data through AI and best-in-class data science tools, the company can help ensure its properties provide the best sites on the markets with the highest demand.
Leveraging owner/operator experience to drive more value through innovation
A cornerstone of Choice Hotels’ success is close collaboration with developers. The development of its largest brand, WoodSpring Suites, set the stage for the company’s extended-stay portfolio, which includes a lean staffing model and optimized operational efficiencies to help owners maximize gross operating profit (GOP). WoodSpring Suites is one of the top performing brands in the extended stay industry – named the #1 Economy Extended Stay Brand by JD Power in 2024, 2023 and 2022 – with an astounding average GOP of 55.5% in 2023. *. By refining its extended stay brands with continuous feedback from owner and operators, the company created a model designed for quick conversions in just 3 to 4 months for its MainStay Suites and Suburban Studios brands through proprietary innovations such as Kitchen and lounge in a box and efficient new construction prototypes with Everhome Suites and WoodSpring Suites.
“This milestone is just the beginning of our growth. We are working hand in hand with our developer network to design the best possible product for the extended stay market and there is no stopping Choice,” said Ron Burgett, senior vice president, extended stay development at Choice Hotels. “Through value engineering, we’ve created a model that helps reduce construction costs and operational complexity, resulting in faster turnaround and new hotel development.”
Everhome Suites Glendale Sports Entertainment District
Everhome Suites Glendale has 122 rooms and was developed in collaboration with Highside Companies and is managed by Superhost Hospitality. Everhome Suites offers the comforts of home along with many other convenient amenities including:
- Fully equipped kitchens with full size appliances in every room
- Spa style bathrooms and large walk-in closets
- 24/7 guest laundry facilities; Choose premium apartments with in-room washers and dryers
- Pet options, free Wi-Fi, weekly housekeeping and a fitness center with Peloton bikes
- Common outdoor areas with barbecue grills, fire pits and green areas; swimming pools in selected locations
- Locally inspired touches including artwork, food and drink offerings at Homebase Market and a signature mural at the main entrance
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See Item 19 of the 2024 Franchise Disclosure Document Of the 161 Woodspring properties in the performance sample, 93 Woodspring hotels or 58% meet or exceed this GOP of 55.5%. |
About Choice Hotels®
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest accommodation franchisors in the world. The high-end contender and leader in medium and extended stays, 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 high-end, full-service properties to mid-range, extended-stay and economy allows Choice® to meet the needs of travelers in more places and for more occasions, while delivering more value to franchise owners and shareholders . The award-winning Choice Privileges® rewards program and co-branded credit card options provide members with a quick and easy way to earn bonus nights and personalized benefits. For more information, visit www.choicehotels.com.