Conversion Agreement Signed with Choice's
Suburban Studios Extended Stay Brand
NORTH
BETHESDA, Md., Aug. 27,
2024 /PRNewswire/ -- Choice Hotels International,
Inc. (NYSE: CHH), one of the world's largest hotel companies,
announced its first contract under the recently reintroduced SOAR
(Supporting Ownership Access and Representation) program, designed
to create hotel ownership opportunities for underrepresented
entrepreneurs. Damon Healey of
Eternal Companies, a real estate investment and asset management
firm, executed a contract to convert two hotels in Georgia to Suburban Studios, one of Choice's
four extended stay brands. The pair of properties opened on
May 30.
"We're so excited to announce the first contract under the newly
reintroduced SOAR program and to work with franchisees like
Damon Healey. Our team is dedicated
to opening doors so that underrepresented entrepreneurs can soar as
hotel owners," said John Lancaster,
vice president of franchise development and strategic programs at
Choice Hotels International.
"Choice has, if not the best, one of the best franchise models,
especially in the extended stay category. That's why I'm thrilled
that our hard work and dedication, with the help of SOAR and our
investors, including partners also within the African American
community, have paid off and we've been able to successfully open
two Suburban Studios in Georgia,"
said Damon Healey, founder of
Eternal Companies. "The level of support we have received from
Choice on how to navigate hotel ownership every step of the way has
been next level. I hope my journey will help inspire others to get
into hotel ownership."
Suburban Studios' "Extended Stay Made Easy" design package
provides flexibility to help enable quick and efficient
conversions. The new Suburban Studios property details are as
follows:
- Suburban Studios Columbus Bradley Park is located at
1721 Rollins Way in Columbus,
Georgia, and has 92 rooms. The hotel is close to local
attractions such as the National Infantry Museum, Flat Rock Park,
the National Civil War Naval Museum, and the Columbus Botanical
Garden.
- Suburban Studios Macon North is located at 3980
Riverside Drive in Macon, Georgia,
and has 73 rooms. The hotel is conveniently located off I-75 and
close to local attractions such as Ocmulgee Mounds National
Historical Park, the Museum of Arts and Sciences, Amerson River Park, and the Allman Brothers Band
Museum at the Big House.
"Choice is a leader in extended stay and the category continues
to be one of the hottest in the hospitality industry with double
the demand to supply," said Matt
McElhare, vice president and lead for extended stay brands,
Choice Hotels. "That's why we're so excited to welcome Damon Healey and Eternal Companies to the Choice
extended stay family and hope to work with him on more projects in
the future."
The reintroduction of the SOAR program earlier this year
reaffirmed Choice's longstanding commitment to support
underrepresented entrepreneurs in reaching their goal of making
small business ownership a reality. Choice Hotels is the only
hospitality company with a dedicated team solely focused on
extending the opportunity of hotel ownership to underrepresented
populations. Since the program's inception more than 20 years ago,
Choice has proudly awarded and financially supported more than 370
franchise agreements with underrepresented minority and veteran
entrepreneurs.
In 2023, Choice's Emerging Markets program, now SOAR, executed
28 new franchise contracts, including with African American,
Hispanic, Native American, veteran and women entrepreneurs.
This included 9 contracts with African American hotel owners and 17
contracts with women owners through the HERtels by Choice program,
a program designed by women for women to empower female
entrepreneurs throughout their ownership journeys. In 2023, the
number of agreements signed with Native American hotel owners
doubled over the prior year, and the number of agreements with
Hispanic and Latino owners increased by 30%. Since the HERtels by
Choice program launched in 2021, approximately 80 women have
participated in the program, leading to 59 new female-owned
hotels.
Read more about Damon Healey's
experience as a Choice Hotels franchisee here:
https://lodgingmagazine.com/paving-the-way-to-extended-stay-how-franchisors-can-set-up-developers-for-success/
For more information about SOAR, as well as Choice Hotels
development opportunities,
visit www.choicehotelsdevelopment.com/diversity.
Suburban Studios®: Hotels for Real Life
Suburban Studios offers longer-staying guests a comfortable,
affordable extended stay experience with hassle-free registration
and just the right hotel amenities. With more than 100 locations
across the United States, our
hotels feature studio suites with in-room kitchens, 24/7 laundry
facilities, free Wi-Fi and premium movie channels, and bi-weekly
housekeeping. For more information, visit
www.choicehotels.com/suburban.
About Choice Hotels®
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest
lodging franchisors in the world. The challenger in upscale and a
leader in midscale and extended stay, Choice® has nearly 7,500
hotels, representing more than 630,000 rooms, in 45 countries and
territories. A diverse portfolio of 22 brands that range from
full-service upper upscale properties to midscale, extended stay
and economy enables Choice® to meet travelers' needs in
more places and for more occasions while driving more value for
franchise owners and shareholders. The award-winning Choice
Privileges® rewards program and co-brand credit card options
provide members with a fast and easy way to earn reward nights and
personalized perks. For more information,
visit www.choicehotels.com.
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 915 Meeting Street, Suite 600,
North Bethesda, Maryland 20852 or
by email at: development@choicehotels.com.
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SOURCE Choice Hotels International, Inc.