Having assembled a diverse lineup of extended-stay flags over the past several years through both brand development as well as acquisition, Choice Hotels International is celebrating the opening of its 500th property in the popular segment.
The company recognized the milestone at the newly opened Everhome Suites in Glendale, Arizona, which represents the sixth property for the new construction midscale extended-stay brand launched in 2020. Matt McElhare, vice president and segment lead for extended-stay brands, Choice Hotels International, detailed the significance of the event.
“This milestone is in some ways I think a validation of the strategy that we put in place back in 2018 to really lean into the segment,” he told LODGING.
Furthermore, as of the end of Q2 2024, Choice had nearly 400 hotels in the pipeline across its four extended-stay brands: Everhome Suites, WoodSpring Suites, Suburban Studios, and MainStay Suites. Choice has the fastest-growing economy extended-stay portfolio and leads in the economy new construction category, according to August 2024 STR Pipeline Data.
McElhare further touted the company’s affordable extended-stay pipeline.
“Having 500 hotels in the midscale [segment] and below really provides us with unparalleled scale, particularly when you think about the fact we’ve got another 400 hotels in development. That will allow us to continue to invest in new commercial capabilities, new resources, and support tools and in ways to help our developers get deals done,” he said.
With the addition of Glendale, Choice now has six Everhome Suites open and more than 65 in the pipeline, including over 20 under construction, 15 of which are expected to open within the next 12 months. Meanwhile, WoodSpring Suites—an economy extended-stay brand that the company acquired in 2017—is expected to reach the 300-milestone within the next 12-18 months, according to McElhare. The brand is on track for a record year with a forecast of 25 openings by year-end.
McElhare further elaborated on the continued evolution of WoodSpring Suites, many of which were renovated and repositioned from the economy Value Place chain. “We will be a completely transformed brand when we cross that 300-hotel milestone. That gives me such confidence because it’s about to get really competitive for [extended-stay] guests and new product that’s high quality is a differentiator,” he said.
Choice also opened 13 MainStay Suites and Suburban Studios between January 1 and September 2024 in the markets of Las Vegas, Nevada; Moreno Valley, California; and Orlando and Tampa, Florida.
The 122-room Everhome Suites Glendale was developed in collaboration with the Highside Companies and is managed by Superhost Hospitality. According to McElhare, who described the Everhome Suites brand as having “500-hotel potential,” it was particularly appropriate for this hotel to mark the occasion.
“We’re thrilled to be able to celebrate this milestone with that brand in the most ideal market for a brand like that with huge growth and RevPAR potential. The hotel’s only been open for four weeks and we’ve already had a sellout. I think it’s very indicative of our strategy, which is to target high-premium markets and get in first with a really good product, a strong operations partner, and let that kind of build the proof of concept for the brand,” he said.