ROCKVILLE, Md., Jan. 22, 2018 /PRNewswire/ -- Cambria Hotels finished 2017 by opening the most properties in a single year and increasing the pipeline to the largest in the brand's history. The upscale brand franchised by Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest hotel companies, now has 37 open hotels across the United States, including 10 that opened last year. In addition, there are more than 70 properties in the pipeline.
"Cambria Hotels' rapid growth strengthens our position in the upscale segment. In addition to setting a record for openings this year, we also established important brand firsts, like opening on the West Coast in Los Angeles and bringing our first adaptive reuse to life in Chicago," said Janis Cannon, senior vice president, upscale brands, Choice Hotels. "From the incredible relationships we have built with our developers, to the beautiful, locally-inspired designs of our properties, this brand is on the move. We look forward to introducing customers to more Cambria hotels in the coming year, including in Nashville and Philadelphia opening early in 2018."
The brand's aggressive expansion strategy includes locally-inspired new construction, adaptive reuse and conversion projects. The 10 properties that opened in 2017 include:
Choice Hotels is committed to expanding the Cambria brand and expects to invest $475 million in corporate capital to grow the brand. The Cambria pipeline includes many of the top 50 U.S. markets, such as, Austin, Texas; Burbank, Calif.; Baltimore; Calabasas, Calif.; Charleston, S.C.; Houston; Miami; Milwaukee; Minneapolis; Napa, Calif.; Orlando, Fla.; San Francisco; Tampa, Fla.; and Washington, D.C. In total, 36 franchise signings were executed in 2017, and the brand continues to perform with a high LTR and RevPAR.
"The Cambria brand's growing pipeline is a direct result of the emphasis Choice Hotels places on the brand and the tremendous value proposition that it offers franchisees and guests. Developers are experiencing a strong return on investment, and we have created a product that perfectly caters to the needs of the modern traveler," said Mark Shalala, vice president, development, upscale brands, Choice Hotels. "With 12 properties slated to open in 2018, we're excited to keep our strong Cambria development progress going and continuing to help drive distribution in top RevPAR markets, and gain significant share in the upscale space."
For more information on Cambria Hotels development opportunities, please visit https://choicehotelsdevelopment.com/cambriahotels/ to learn more.
About Cambria Hotels
Cambria® Hotels are designed for the modern traveler, offering guests a distinct experience with simple, guilt-free indulgences allowing them to treat themselves while on the road. Properties feature compelling design inspired by the location, spacious and comfortable rooms, flexible meeting space, and local freshly prepared food and craft beer. Cambria Hotels is rapidly expanding in major U.S. cities, with hotels open in Chicago, New York City, Pittsburgh, Washington, D.C., and Los Angeles. Cambria now has 37 hotels open across the United States, and there are more than 100 hotels open or in the pipeline in the U.S. and Canada. To learn more, visit www.cambriahotelsandsuites.com.
About Choice Hotels
Choice Hotels International, Inc. (NYSE: CHH) is one of the world's largest hotel companies. With over 6,500 hotels franchised in more than 40 countries and territories, Choice Hotels International represents more than 500,000 rooms around the globe. As of September 30, 2017, over 800 hotels were in our development pipeline. Our company's Ascend Hotel Collection®, Cambria® Hotels, Comfort Inn®, Comfort Suites®, Sleep Inn®, Quality®, Clarion®, MainStay Suites®, Suburban Extended Stay Hotel®, Econo Lodge®, Rodeway Inn®, and Vacation Rentals by Choice Hotels® brands provide a spectrum of lodging choices to meet guests' needs. With more than 33 million members, our Choice Privileges® rewards program enhances every trip a guest takes, with benefits ranging from instant, every day rewards to exceptional experiences, starting right when they join. All hotels and vacation rentals are independently owned and operated. Visit us at www.choicehotels.com for more information.
Forward-Looking Statement
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. 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 factors include, but are not limited to, changes to general, domestic and foreign economic conditions; foreign currency fluctuations; operating risks common in the lodging and franchising industries; 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 development 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; 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 reports on Form 10-K and our quarterly reports filed on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
© 2018 Choice Hotels International, Inc. All Rights Reserved.
SOURCE Choice Hotels International, Inc.
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