SILVER SPRING, Md., Aug. 24, 2011 /PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH) is proud to announce their new partnership with Access Point Financial, Inc., a full-service lending and advisory platform that will provide financing to qualified franchisees of major hotel brands. Choice Hotels, one of the world's largest hotel franchisors, is the first hospitality franchisor to team up with Access Point and negotiate a formal finance program. This breakthrough partnership between Choice Hotels and Access Point Financial will focus on aiding the Sleep Inn brand implement the Designed to Dream(TM) renovation program.
Choice Hotels and Access Point will partner together to provide creative, responsive and comprehensive programs specifically designed to meet the financing needs of Sleep Inn franchisees. The initial phase of the partnership will focus on creating lending programs to facilitate renovation loans for Sleep Inn hotels. The overall goal of this program is to help Choice Hotels franchisees continue their mission of innovation and guest satisfaction at their properties across the globe.
"The recent recession made it difficult for our franchisees and hoteliers across the industry to invest capital in their hotels and to secure financing; this alliance with Access Point Financial gives us the opportunity to offer our Sleep Inn franchisees the ability to secure capital to keep their properties competitive in the marketplace," said Stephen P. Joyce, president and chief executive officer of Choice Hotels.
When asked about the new partnership, Access Point Financial CEO Jon Wright said, "Choice Hotels selected Access Point as its partner in developing financing solutions for their franchisees for several reasons. They recognize that our industry experience and relationships enables us to reliably underwrite loans, provide high-quality loan servicing and maximize distribution opportunities in the capital markets. The timing is excellent for a financing organization like ours, and we anticipate a long and successful partnership with Choice Hotels."
Started in 2010, the Sleep Inn Designed to Dream program competitively positions the brand in the mid-scale hotel market with nature-oriented simply stylish decor. Highlights of the Designed to Dream program include guestrooms with black-and-white nature photography and contemporary bedding with bed scarves, and a newly designed lobby with modern lighting, natural finishes, and a large accent wall.
About Access Point Financial
Access Point Financial is a full-service lending and advisory platform focused on the hospitality industry. Access Point provides financing to qualified franchisees of major hotel brands throughout the United States. Access Point was formed by Stone Point Capital LLC, a private equity firm based in Greenwich, Connecticut, and the company's management team.
About Choice Hotels
Choice Hotels International, Inc. franchises more than 6,100 hotels, representing more than 490,000 rooms, in the United States and more than 30 other countries and territories. As of June 30, 2011, more than 450 hotels were under construction, awaiting conversion or approved for development in the United States, representing more than 37,000 rooms, and approximately 100 hotels, representing approximately 8,700 rooms, were under construction, awaiting conversion or approved for development in more than 20 other countries and territories. The company's Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brands serve guests worldwide. In addition, via its Ascend Collection membership program, travelers in the United States, Canada and the Caribbean have upscale lodging options at historic, boutique and unique hotels.
Additional corporate information may be found on the Choice Hotels International, Inc. Web site, which may be accessed at www.choicehotels.com.
About Stone Point Capital
Stone Point Capital LLC is a global private equity firm based in Greenwich, Connecticut, that has a 25-year record of making successful investments in the financial services industry. Stone Point Capital serves as the manager of the Trident Funds, which have raised more than $9 billion in committed capital to make investments in lending, banking, asset management and other financial services companies. For further information about Stone Point Capital, see www.stonepoint.com.
Choice Hotels, Choice Hotels International, Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge, Rodeway Inn and Ascend Collection are proprietary trademarks and service marks of Choice Hotels International.
(C) 2011 Choice Hotels International, Inc. All rights reserved.
SOURCE Choice Hotels International, Inc.
SOURCE: Choice Hotels International, Inc.
PR Newswire
SILVER SPRING, Md., Aug. 24, 2011
SILVER SPRING, Md., Aug. 24, 2011 /PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH) is proud to announce their new partnership with Access Point Financial, Inc., a full-service lending and advisory platform that will provide financing to qualified franchisees of major hotel brands. Choice Hotels, one of the world's largest hotel franchisors, is the first hospitality franchisor to team up with Access Point and negotiate a formal finance program. This breakthrough partnership between Choice Hotels and Access Point Financial will focus on aiding the Sleep Inn brand implement the Designed to Dream™ renovation program.
Choice Hotels and Access Point will partner together to provide creative, responsive and comprehensive programs specifically designed to meet the financing needs of Sleep Inn franchisees. The initial phase of the partnership will focus on creating lending programs to facilitate renovation loans for Sleep Inn hotels. The overall goal of this program is to help Choice Hotels franchisees continue their mission of innovation and guest satisfaction at their properties across the globe.
"The recent recession made it difficult for our franchisees and hoteliers across the industry to invest capital in their hotels and to secure financing; this alliance with Access Point Financial gives us the opportunity to offer our Sleep Inn franchisees the ability to secure capital to keep their properties competitive in the marketplace," said Stephen P. Joyce, president and chief executive officer of Choice Hotels.
When asked about the new partnership, Access Point Financial CEO Jon Wright said, "Choice Hotels selected Access Point as its partner in developing financing solutions for their franchisees for several reasons. They recognize that our industry experience and relationships enables us to reliably underwrite loans, provide high-quality loan servicing and maximize distribution opportunities in the capital markets. The timing is excellent for a financing organization like ours, and we anticipate a long and successful partnership with Choice Hotels."
Started in 2010, the Sleep Inn Designed to Dream program competitively positions the brand in the mid-scale hotel market with nature-oriented simply stylish decor. Highlights of the Designed to Dream program include guestrooms with black-and-white nature photography and contemporary bedding with bed scarves, and a newly designed lobby with modern lighting, natural finishes, and a large accent wall.
About Access Point Financial
Access Point Financial is a full-service lending and advisory platform focused on the hospitality industry. Access Point provides financing to qualified franchisees of major hotel brands throughout the United States. Access Point was formed by Stone Point Capital LLC, a private equity firm based in Greenwich, Connecticut, and the company's management team.
About Choice Hotels
Choice Hotels International, Inc. franchises more than 6,100 hotels, representing more than 490,000 rooms, in the United States and more than 30 other countries and territories. As of June 30, 2011, more than 450 hotels were under construction, awaiting conversion or approved for development in the United States, representing more than 37,000 rooms, and approximately 100 hotels, representing approximately 8,700 rooms, were under construction, awaiting conversion or approved for development in more than 20 other countries and territories. The company's Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brands serve guests worldwide. In addition, via its Ascend Collection membership program, travelers in the United States, Canada and the Caribbean have upscale lodging options at historic, boutique and unique hotels.
Additional corporate information may be found on the Choice Hotels International, Inc. Web site, which may be accessed at www.choicehotels.com.
About Stone Point Capital
Stone Point Capital LLC is a global private equity firm based in Greenwich, Connecticut, that has a 25-year record of making successful investments in the financial services industry. Stone Point Capital serves as the manager of the Trident Funds, which have raised more than $9 billion in committed capital to make investments in lending, banking, asset management and other financial services companies. For further information about Stone Point Capital, see www.stonepoint.com.
Choice Hotels, Choice Hotels International, Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge, Rodeway Inn and Ascend Collection are proprietary trademarks and service marks of Choice Hotels International.
(C) 2011 Choice Hotels International, Inc. All rights reserved.
SOURCE Choice Hotels International, Inc.
CONTACT: Heather Soule, +1-301-628-4361, heather_soule@choicehotels.com
Web Site: http://www.choicehotels.com
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