ROCKVILLE, Md. (Sept. 26, 2018) – Choice Hotels International, Inc. (NYSE: CHH) announced plans to bring seven additional hotels to Saudi Arabia under its Comfort and Quality brands. The new hotels represent the first tranche of a broader strategy to open 30 Choice-branded hotels to the Kingdom.
The hotels include:
The announcement advances Choice’s strategy to expand internationally and follows the previously signed master development agreement with an affiliate of one of the largest tourism and travel companies in the Middle East, Al-Tayyar Travel Group.
All seven hotels will be operated through hotel-management agreements between CHME Ltd., a subsidiary of Al-Tayyar Travel Group, under a master license agreement with Choice Hotels. Four of these hotels already are under construction and expected to open beginning in the third quarter of 2019.
At a signing ceremony yesterday in Riyadh, Choice Hotels President and CEO Patrick Pacious said, “International growth remains a key strategic focus for Choice, and the Kingdom presents an attractive market for expansion. We are proud to leverage our decades of midscale experience to bring more hospitality options that travelers desire to the region.”
Al-Tayyar Travel Group CEO Abdullah Al Dawood said, “This is only the beginning of our group’s transformation plan, announced last year, to develop and operate 6,000 keys by 2022. We are confident in Choice’s expertise and ability to help us deliver a high-quality hospitality experience to meet the needs of the fast-growing midscale segment in line with the Kingdom’s Vision 2030.”
Mark Pearce, senior vice president, international division, Choice Hotels International added, “This agreement anchors our portfolio in the Kingdom and is symbolic of Choice Hotels’ strong international presence. The seven new-build projects are exemplary hotels to showcase our Quality and Comfort brands, as well as the guest experience Choice Hotels offers.”
About Choice Hotels
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest and most successful lodging franchisors in the world. With more than 6,800 franchised hotels, representing more than 550,000 rooms, in over 40 countries and territories as of June 30, 2018, 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. Comfort, Comfort Suites, Comfort Inn & Suites, Quality, and Quality Inn & Suites are registered trademarks of Choice Hotels International. For more information, visit www.choicehotels.com.
About Al-Tayyar Travel Group
Al-Tayyar Travel Group Holding Company (ALTAYYAR: AB) is one of the largest travel and tourism service providers in the Kingdom of Saudi Arabia. A publicly listed Saudi corporation with over 14 affiliated companies across the globe, Al-Tayyar was established in 1979 as a single reservation office in Riyadh. Today, the group operates across four main business areas: travel and tourism, hospitality, supporting businesses, and investment. The company provides services through more than 300 branches in Saudi Arabia as well as across 20 international offices. www.altayyargroup.com
Forward-Looking Statement
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, any of which could cause actual results to be materially different from our expectations.
© 2018 Choice Hotels International, Inc. All Rights Reserved
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