Choice Hotels International, Inc. (NYSE: CHH) signed an agreement with Brookwood Hotels to develop more than 20 new WoodSpring Suites hotels over the next few years. The brand now has more than 130 hotels in the pipeline and more than 245 are open.
"Sustained interest in the WoodSpring Suites brand and the performance of the business model affirms our growth strategy is working," said Ron Burgett, vice president, WoodSpring Suites development, Choice Hotels. "WoodSpring has experienced tremendous success since Choice's acquisition, breaking the brand's record for most franchise contracts awarded in a single year. We look forward to accelerating the brand's expansion with Brookwood Hotels. Together, we'll bring WoodSpring to even more markets to meet the demand for longer-term stays."
Brookwood Hotels is the largest Choice Hotels franchisee and has an existing portfolio of more than 100 WoodSpring-branded hotels across the U.S. This latest agreement outlines a plan for aggressive brand expansion across the country.
"WoodSpring Suites is a proven performer in the extended-stay segment and we're excited to increase our investment in the brand," said Darien Wright, chief operating officer, Brookwood Hotels.
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 June 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 6,800 franchised hotels, representing more than 550,000 rooms, in over 40 countries and territories as of June 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 (Brookfield) -sponsored private real estate fund.
