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MarketScreener Homepage  >  Equities  >  Nyse  >  Choice Hotels International Inc    CHH

CHOICE HOTELS INTERNATIONAL INC (CHH)
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Choice Hotels International : WoodSpring Suites Arrives in Reno, Nevada

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12/11/2018 | 03:02pm CET

ROCKVILLE, Md., Dec. 11, 2018 /PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, in collaboration with Brookwood Hotels, announced the opening of the WoodSpring Suites Reno Sparks, the brand's first hotel in Nevada.

(PRNewsfoto/Choice Hotels International, In)

Located at 140 Salomon Court, the new-construction hotel is minutes away from downtown Reno, providing extended-stay travelers with convenient access to the Reno-Tahoe International Airport; the University of Nevada, Reno; the Reno-Sparks Convention Center; and the Tesla Gigafactory, as well as several hospitals and local businesses.

"Reno is experiencing a renaissance, making it the ideal place to debut Nevada's first WoodSpring hotel," said Ron Burgett, vice president, WoodSpring Suites development, Choice Hotels. "In addition to its growing technology sector—which earned the city a reputation as 'the next Silicon Valley'—Reno benefits from one of the fastest-growing job markets in the nation. This makes the area perfectly positioned for future growth. We look forward to working with Brookwood Hotels once again to meet increased demand with the WoodSpring Suites Reno Sparks."

The four-story, 122-room WoodSpring Suites Reno Sparks is purpose-built for the unique needs of extended-stay travelers. Each suite features an in-room kitchen with a full-size refrigerator and complimentary Wi-Fi. The hotel also includes an expanded lobby with a coffee station, a fitness center, and a guest laundry room.

The WoodSpring Suites Reno Sparks will join Brookwood Hotels' rapidly expanding portfolio of more than 100 WoodSpring hotels throughout the country, with additional projects currently under construction.

"The opening of the WoodSpring Suites Reno Sparks is an important milestone. It not only marks the continued expansion of the brand and our portfolio in new markets, but also the growth of our relationship with Choice Hotels," said Darien Wright, chief operating officer, Brookwood Hotels. "We are also excited the property will be managed by Nationwide Hotel Management Company."

To learn more about WoodSpring Suites, visit www.woodspringfranchise.com.

About WoodSpring Suites®
WoodSpring Suites hotels offer extended stay guests a welcoming environment and straightforward stay – all affordably priced. Franchised by Choice Hotels, WoodSpring Suites is the nation's fastest-growing economy extended stay hotel brand. Each property is newly constructed and built to anticipate the needs of travelers looking for a longer-term stay. Properties feature all-suite rooms with fully-equipped kitchens, flexible workspaces, and guest laundry facilities. There are more than 240 WoodSpring Suites hotels open in over 35 states and nearly 100 in the pipeline across the country as of September 30, 2018. For more information, visit www.woodspring.com/ourbrand/

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 6,900 hotels, representing more than 560,000 rooms, in over 40 countries and territories as of September 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. For more information, visit www.choicehotels.com.

About Brookwood Hotels
Brookwood Hotels (the "Company") is a hospitality platform company which was formed simultaneously with the acquisition of the WoodSpring Suites brand by Choice Hotels in February 2018. The Company owns more than 100 hotels in the economy extended-stay segment across the U.S., with the largest concentration in Florida. The Company is owned by a Brookfield Asset Management-sponsored private real estate fund.

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.

© 2018 Choice Hotels International, Inc. All rights reserved.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/woodspring-suites-arrives-in-reno-nevada-300763288.html

SOURCE Choice Hotels International, Inc.


© PRNewswire 2018
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Financials ($)
Sales 2018 1 064 M
EBIT 2018 320 M
Net income 2018 213 M
Debt 2018 712 M
Yield 2018 1,17%
P/E ratio 2018 19,55
P/E ratio 2019 17,59
EV / Sales 2018 4,53x
EV / Sales 2019 4,14x
Capitalization 4 111 M
Chart CHOICE HOTELS INTERNATIONAL INC
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Technical analysis trends CHOICE HOTELS INTERNATIONA
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 11
Average target price 81,4 $
Spread / Average Target 11%
EPS Revisions
Managers
NameTitle
Patrick S. Pacious President, Chief Executive Officer & Director
Stewart W. Bainum Chairman
Abhijit Patel VP-Marketing, Distribution Strategy & Operations
Dominic E. Dragisich Chief Financial Officer
Todd Davis Chief Information Officer
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