WoodSpring Suites Continues Record-Setting Growth
Choice Hotels International, Inc. (CHH)
Last choice hotels international, inc. earnings: 2/18 08:12 am
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Source: PR Newswire
ROCKVILLE, Md., Aug. 23, 2018 /PRNewswire/ -- WoodSpring Suites is on pace to significantly exceed the brand's previous record for the number of new franchise agreements awarded in a single year. Through the first half of the year, the brand, which is franchised by Choice Hotels International, Inc. (NYSE: CHH), executed 46 franchise agreements, all but two of which took place after being acquired by Choice on February 1. WoodSpring now boasts more than 340 hotels open or in the pipeline. "Since the acquisition, developer interest in the WoodSpring Suites brand has grown tremendously. With demand continuing to increase for longer-term stays, coupled with the host of resources Choice Hotels provides, the brand is an attractive option for growth-minded owners," said Ron Burgett, vice president, WoodSpring Suites development, Choice Hotels. "The WoodSpring prototype and business model resonates with developers and guests, and we expect to build upon this success wit
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- Choice Hotels International, Inc. (NYSE: CHH) had its price target lowered by analysts at Barclays PLC from $122.00 to $114.00. They now have an "underweight" rating on the stock.MarketBeat
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