#Choice Hotels #Radisson #WoodSpring Suites

Celebrating Growth: Choice Hotels' Success Story for 2024

Choice Hotels International, Inc. has marked another remarkable year in 2024, reinforcing its stature as one of the leading lodging franchisors globally. With a focus on development success across various segments, the company demonstrated its potential for continuous growth, gearing up for an even more ambitious 2025. In a recent address, President and CEO Patrick Pacious expressed confidence in the company's growth trajectory, underpinned by a unique revenue-intense strategy aimed at enhancing revenue for hotel owners while reducing their operational costs.

Expansion in Extended Stay Segment

In the booming extended stay sector, Choice Hotels set a new benchmark, achieving a total of 61 hotel openings, reaching a significant milestone with the inauguration of its 500th extended stay property in October 2024. Notable openings included 25 WoodSpring Suites and six Everhome Suites, both setting construction records for their categories. Furthermore, WoodSpring earned the title of the top economy extended stay brand in the J.D. Power North America Hotel Guest Satisfaction Index Study for the second consecutive year. As of November, the WoodSpring Suites represented a staggering 70% of all new hotels under construction within that segment.

Upscale Segment Growth

Shifting focus to the upscale segment, Choice Hotels showcased impressive growth, introducing 27 new hotels, including 18 properties from the Ascend Hotel Collection. This represents an 80% increase compared to the previous year. Additional openings included seven Cambria Hotels and a couple of new Radisson locations. The integration of the Radisson Americas brands in 2023 significantly impacted the upscale segment, as evidenced by a 7.5% increase in Revenue Per Available Room (RevPAR) year-over-year, paving the way for further growth in this pivotal area.

Midscale Segment Achievements

Choice Hotels has also excelled in the midscale market, celebrating 41 openings for its flagship Quality Inn brand, which coincided with its 85-year anniversary. A notable contributor to its success was the continued expansion of the Comfort brand and the Country Inn & Suites by Radisson, marking 26 and six openings respectively. The year was marked by robust improvements in the Country Inn & Suites, which boasted a remarkable 19-point increase in its RevPAR Index and significant growth in direct online contributions as well as sales revenue.

Innovations and New Initiatives

In addition to strong growth metrics, Choice Hotels also made strides in innovation and support programs. The company relaunched Radisson Individuals as an upscale soft brand, alongside the Radisson Blu and Radisson brands, which featured updated guestroom design packages. They introduced a unique