Choice Hotels International, Inc. (NYSE: CHH), franchisor of the Cambria Hotels brand, entered into a multi-unit agreement with Stratus Development Partners, LLC to develop five Cambria properties, beginning with a 180-room new construction hotel in Santa Clara, Calif.
"The Cambria Hotels brand is experiencing tremendous success and our strategy centered on multi-unit development is accelerating the brand's growth," said Mark Shalala, vice president, development, upscale brands, Choice Hotels. "Choice Hotels is currently collaborating with Stratus Development Partners on three Cambria hotels in Napa, Calif.; Orlando, Fla.; and Sonoma, Calif. When they approached us about developing five more hotels, we knew it would be a win-win."
Choice Hotels and Stratus Development Partners have secured a site in Santa Clara, Calif., as the first location, and a second site in the greater San Francisco market has already been identified.
"We have worked with Choice Hotels for several years now and believe strongly in our relationship and that the Cambria Hotels brand is best-in-class in the upscale segment. Stratus has been a part of the Cambria brand's early growth and this new agreement will expand the depth of our joint effort to fuel the brand's continued expansion in major markets," said Andrew Wood of Stratus Development Partners.
Cambria Hotels has nearly 120 properties open or in the pipeline, located in 42 of the top 50 RevPAR markets. Future openings are planned in Austin, Texas; Baltimore; Boston; Calabasas, Calif.; Charleston, S.C.; Houston; Miami; Minneapolis; Napa, Calif.; San Francisco and Washington, D.C.
"Cambria Hotels is a brand on the move, thanks in part to our collaboration with leading developers as well as Choice's $475 million in capital support to help grow the brand," said Janis Cannon, senior vice president, upscale brands at Choice Hotels. "Within the past six months, we have brought Cambria Hotels to some of the country's top RevPAR markets, such as Asheville, N.C.; Dallas; Nashville, Tenn.; Philadelphia and Phoenix – and we plan to enter more popular cities this year."
For more information on Cambria Hotels development opportunities, please visit choicehotelsdevelopment.com/cambriahotels/.
About Cambria Hotels Cambria® Hotels is designed for the modern traveler, offering guests a distinct experience with simple, guilt-free indulgences allowing them to treat themselves while on the road. Properties feature compelling design inspired by the location, spacious and comfortable rooms, flexible meeting space, and local freshly prepared food and craft beer. Cambria Hotels is rapidly expanding in major U.S. cities, with hotels open in Chicago, New York City, Pittsburgh, Washington, D.C., and Los Angeles. There are more than 35 Cambria properties open across the United States, and over 100 hotels open or in the pipeline in the U.S. and Canada. To learn more, visit www.cambriahotelsandsuites.com.
About Choice Hotels Choice Hotels International, Inc. (NYSE: CHH) is one of the world's largest hotel companies. With over 6,800 hotels franchised in more than 40 countries and territories, Choice Hotels International represents more than 550,000 rooms around the globe and as of March 31, 2018, there are more than 900 hotels in our development pipeline. Our company's Ascend Hotel Collection®, Cambria® Hotels, Comfort®, Sleep Inn®, Quality®, Clarion®, MainStay Suites®, Suburban Extended Stay Hotel®, WoodSpring Suites®, Econo Lodge®, Rodeway Inn®, and Vacation Rentals by Choice Hotels® brands provide a spectrum of lodging choices to meet guests' needs. With more than 36 million members, our Choice Privileges® rewards program enhances every trip a guest takes, with benefits ranging from every day rewards to exceptional experiences, starting right when they join. All hotels and vacation rentals are independently owned and operated. Visit us at www.choicehotels.com for more information.
About Stratus Development Partners, LLC Stratus is a full-service real estate firm established in 1993 and based in Newport Beach, CA. Together the highly talented team of principals encompass over 40 years of institutional real estate development experience in origination, entitlement, repositioning and management focused on value-added strategic acquisitions and innovative developments. Stratus over the last 25-years have designed, developed, repositioned, financed and actively managed over 50 premier hospitality properties totaling over 9,000 keys though out the US including Copley Square in Boston, Mass and The Southland in Dallas, Texas. To learn more, visit www.stratusdev.com/company.
