Choice Hotels' newest extended stay brand fuels segment leadership and offers growth opportunity for developers
ROCKVILLE, Md. , Sept. 29, 2022 /PRNewswire/ -- Everhome Suites—the newest brand launched by Choice Hotels International, Inc. (NYSE: CHH)—today celebrates the grand opening of its first hotel: the Everhome Suites Corona. The milestone opening comes two years after Choice unveiled the Everhome brand—a new construction, midscale extended stay product uniquely designed for the way longer-staying guests live and work—and builds on the company's leadership in the extended stay segment.
To commemorate the milestone opening, executives from Choice Hotels and the property's developers Paladin Equity Capital, will welcome community members and city officials, including Wes Speake, Mayor of the City of Corona and Deserie Ramirez, vice president of operations, Corona Chamber of Commerce, to the hotel for an official ribbon cutting ceremony and property tours.
"Two years ago, when we launched Everhome Suites, we set out to breathe new life into the segment with the first new midscale extended stay brand in nearly a decade. Today, we are elated to bring the first hotel to life to meet the growing demand from franchisees seeking to capitalize on one of the industry's fastest growing segments while also empowering guests' success on the road," said Anna Scozzafava, vice president and general manager, extended stay, Choice Hotels. "This grand opening represents the first of many milestones to come for the brand, and as Everhome begins to take off around the country, we can't wait for guests to experience our hotels, which are designed to be just as flexible as them, so they can maintain their routine when away from home for days, weeks, or longer."
Located at 1961 Foothill Parkway in Riverside, California, the inaugural Everhome Suites features 98 apartment style rooms and is ideally situated off I-15. In addition to providing extended stay guests with easy access to nearby Los Angeles and surrounding Riverside County towns, the Everhome Suites Corona is located just a short drive from top area employers including 3M, Kaiser Permanente, Keller Williams, Merrick Engineering, Monster Beverage and US Foods.
The Everhome Suites brand, like its first property, was developed with the needs of both extended stay guests and owners in mind. In addition to helping growth-minded developers leverage opportunities within the resilient extended-stay segment, Everhome Suites helps guests to live as they want during extended trips with comfort, convenience and stability. The brand's unique, value-engineered prototype is crafted to anticipate the needs of today's extended-stay guests by offering amenities that help them maintain their routine on the road, including:
"There's a reason why investors and developers continue to turn to Choice to grow their extended stay portfolio: our smart development model, designed to bring projects to market quickly and streamline operational costs, and our proven track record of success within the segment during any environment," said Ron Burgett, senior vice president, franchise development, extended stay, Choice Hotels. "Everhome Suites perfectly marries Choice's more than 80 years of midscale leadership with the company's decades of experience bringing next-generation extended stay offerings to life and, since its introduction two years ago, the brand has gained enormous traction across the development community. The brand's early success—thanks in part to its ability to resonate with guests combined with the company's proven performance in the segment—is yet another testament to Choice's extended stay leadership, and a preview of the growth still to come."
Paladin Equity Capital is a full-service real estate investment and development company based in California, and Hotel Management & Consulting will manage the Everhome Suites Corona.
"Teaming with Choice Hotels to develop the new Everhome Suites brand was a major strategic decision for us at Paladin. Creating a new brand is a journey into uncharted territory, but Choice has been extraordinarily supportive on every level in working with us to bring the very first Everhome Suites to market," said Philip Powers, partner, Paladin Equity Capital. "The Everhome brand represents the culmination of Choice's many years of experience in the extended stay arena, with a focus on the guest experience and a high-quality, stylish product. The Everhome Suites Corona represents the first of at least 10 Everhome Suites we plan to build in Southern California, with five already in various stages of development currently."
The new construction extended stay brand now boasts more than 30 hotels in the pipeline as of June 30, 2022, and additional commitments under master development agreements with Paladin Equity Capital and ServiceStar Capital Management to develop more than 30 new Everhome Suites hotels. Future openings are anticipated in Arizona, California, Georgia, South Carolina, and Texas. Choice Hotels currently features the newly refreshed Suburban Studios and WoodSpring Suites brands in economy extended stay and MainStay Suites and Everhome Suites in midscale extended stay. For more information on Everhome Suites development opportunities, visit choicehotelsdevelopment.com/everhome-suites.
About Everhome Suites
The Everhome Suites brand, franchised by Choice Hotels, allows guests to build life on their terms during longer-term stays. The newly constructed hotels are designed to help maintain routine on the road with apartment-style suites that have fully equipped kitchens and customizable "me" spaces, including workstations, full-size closets, additional storage and spa-like bathrooms. Properties feature modern and sophisticated public spaces with fitness centers, guest laundry facilities and 24/7 self-service marketplaces with a variety of hot and cold breakfast options. For more information, visit media.choicehotels.com/everhome-suites.
About Choice Hotels®
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. Choice recently acquired Radisson Hotels Americas, adding nine brands, more than 600 hotels, and approximately 67,000 rooms in the United States, Latin America, the Caribbean, and Canada to its portfolio. With 22 brands, Choice Hotels has more than 7,500 hotels, and nearly 650,000 rooms, in 46 countries and territories as of August 11, 2022. The Choice® family of hotel brands provide business and leisure travelers with a broad range of high-quality lodging options from limited service to full-service hotels in the upper upscale, upper mid-scale, midscale, extended-stay and economy segments. The award-winning Choice Privileges® loyalty program offers members a faster way to rewards, with personalized benefits starting on day one. For more information, visit www.choicehotels.com.
Forward-Looking Statement
This communication includes "forward-looking statements" about future events, including development and anticipated 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 1 Choice Hotels Circle, Suite 400, Rockville, MD 20850, development@choicehotels.com.
© 2022 Choice Hotels International, Inc. All rights reserved.
SOURCE Choice Hotels International, Inc.
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