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Choice Hotels International to Add 46 Hotels
By: PR Newswire
Jan. 14, 2013 10:05 AM
SILVER SPRING, Md., Jan. 14, 2013 /PRNewswire/ -- Lodging giant Choice Hotels International (NYSE: CHH) announced today the addition of 46 hotels to its family of brands. Under an agreement reached with affiliates of Colony Capital, LLC, including Colony Financial, Inc., and hospitality management company Aimbridge Hospitality, the properties will be franchised under the Quality Inn, Comfort Inn and Econo Lodge brands. The addition of these hotels, which all formerly operated as Jameson Inns, is Choice Hotels' largest single conversion transaction, excluding brand acquisitions.
"This is a significant addition of hotels to our system and a true testament to the strength of our brands," says Steve Joyce, President and CEO of Choice Hotels International. "Investors, developers and franchisees know the great value our brands deliver. We are thrilled to bring these hotels into our system and to be working with two prominent hotel companies."
Thomas J. Barrack, Jr., Chairman and CEO of Colony, said, "While we considered many brands for our hotels, we recognized that Choice is a leader in the midscale lodging segment and are delighted to be franchising with them."
The newly Choice-branded hotels are located in Alabama, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Virginia. Under this agreement, the hotels will be managed by Dallas-based Aimbridge Hospitality, one of the nation's leading hotel management firms.
"We view this as a tremendous opportunity to reposition these properties and enhance their operating performance as well as expand our relationship with Choice Hotels," said Dave Johnson, President and CEO of Aimbridge Hospitality. "In doing so this collaboration will help open the door to pursue additional investment and management opportunities together."
Under the Quality Inn, Comfort Inn and Econo Lodge brands, the renovated hotels will provide for an enhanced guest experience. Forty-two properties will operate as Quality Inn hotels, two as Comfort Inn hotels and two will be branded as Econo Lodge hotels.
About Choice Hotels
Choice Hotels International, Inc. franchises approximately 6,200 hotels, representing more than 495,000 rooms, in the United States and more than 30 other countries and territories. As of September 30, 2012, 360 hotels, representing 29,000 rooms, were under construction, awaiting conversion or approved for development in the United States. Additionally, 75 hotels, representing approximately 7,000 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, as well as its Ascend Hotel Collection membership program, serve guests worldwide.
Additional corporate information may be found on the Choice Hotels International, Inc. website, which may be accessed at www.choicehotels.com.
About Colony Capital, LLC
Founded in 1991 by Chairman and Chief Executive Officer Thomas J. Barrack, Jr., Colony Capital is a private, international investment firm focusing primarily on debt and equity investments in real estate-related assets and operating companies. The firm has invested $48 billion in over 19,000 loans/assets through various corporate, portfolio and complex property transactions. Colony has a team of more than 250 and is headquartered in Los Angeles, with offices in New York, Boston, Scottsdale, London, Madrid, Paris, Rome, Beirut, Hong Kong, Seoul and Taipei. For more information, visit www.colonyinc.com.
About Aimbridge Hospitality
Aimbridge Hospitality is one of the nation's leading independent hotel investment and management firms with a proven track record for delivering superior returns for its strategic partners in a variety of markets and economic cycles. Aimbridge provides management, asset management, development, renovation and consulting services. Based in Dallas, Texas and with development offices in Chicago, Dallas and Puerto Rico, Aimbridge currently owns and/or manages more than 180 upscale, independent and branded hotels with nearly 25,000 rooms across the United States and the Caribbean, including such affiliations as Marriott, Hilton, Embassy Suites, DoubleTree, Hilton Garden Inn, Hampton Inn & Suites, Aloft, Hyatt, Wyndham, Choice Hotels and the Phoenix Inn Suites chain of hotels. For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.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 Hotel Collection are proprietary trademarks and service marks of Choice Hotels International.
© 2013 Choice Hotels International, Inc. All rights reserved.
SOURCE Choice Hotels International, Inc.
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