Nearly 600 Radisson hotels to gain access to Choice platform as integration moves forward at rapid pace
ROCKVILLE, Md., June 28, 2023 /PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's leading hotel franchisors, is on pace to integrate the nearly 600 Radisson Americas hotels onto its world-class reservation delivery engine and its award-winning Choice Privileges loyalty program by the end of the summer.
As the integration moves forward quickly due to the company's integration expertise and its investments in advanced technology, Choice Hotels, its guests, and its franchisees across the entire portfolio of brands are already reaping substantial benefits. Choice achieved the following Radisson Americas-related accomplishments since the August 2022 acquisition:
Choice is now on pace to complete several major integration milestones ahead of schedule. Full integration is expected by the end of the year. The following key steps are expected to be completed during the third quarter – within just a year of the acquisition:
"Our proven expertise in integrating hotel brands is enabling us to complete the onboarding of the Radisson Americas properties onto our industry-leading business platform well ahead of plan," explained Choice Hotels President and CEO Pat Pacious. "Complete integration of the nearly six hundred hotels will enable us to help drive their performance and profitability to the next level."
Choice has a track record of success when it comes to acquisitions: The company acquired WoodSpring Suites in 2018 and designed a new development model for the extended stay brand that brings projects to market quickly while streamlining operational costs. Today, WoodSpring Suites is growing rapidly across the country, with 12 hotels opened year to date, including six in May alone – a record for the brand. It currently has 300 more hotels in the pipeline.
Choice boasts an industry-leading voluntary franchise retention rate and best-in-class franchisee tools, and Radisson Americas hotel owners are excited to be part of the Choice family.
"We've already seen a bump in direct bookings thanks to the improvements Choice made to the Radisson Americas website, and they've given us benchmarking data and profitability consultations to help further drive our revenue," says Bob Patel, owner of four Country Inn & Suites hotels. "Choice is clearly a company that's committed to providing franchisees like me with the tools, resources and support we need to succeed, and I can't wait to have my properties on their platform."
For information on Radisson development opportunities, visit https://choicehotelsdevelopment.com/brands/#radisson.
About Choice Hotels®
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. A challenger in the upscale segment and a leader in midscale and extended stay, Choice® has more than 7,400 hotels, representing over 625,000 rooms, in 45 countries and territories. A diverse portfolio of 22 brands that run the gamut from full-service upper upscale properties to midscale, extended stay and economy enables Choice® to meet travelers' needs in more places and for more occasions while driving more value for franchise owners and shareholders. The award-winning Choice Privileges® loyalty program and co-brand credit card options provide members with a fast and easy way to earn reward nights and personalized perks. For more information, visit www.choicehotels.com.
Forward-Looking Statements
Certain matters discussed in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. 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. Such statements are subject to numerous risks and uncertainties, including changes to general, domestic and foreign economic conditions, the company's ability to successfully integrate Radisson Hotels Americas' employees and operations, the ability to realize the anticipated benefits and synergies of the acquisition of Radisson Hotels Americas as rapidly or to the extent anticipated, our relationships with our franchisees, operating risks common in the travel, lodging or franchising industries, 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. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
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, email: development@choicehotels.com.
© 2023 Choice Hotels International, Inc. All Rights Reserved
SOURCE Choice Hotels International, Inc.
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