Choice Hotels International has entered into agreement with Noble Investment Group, an investment manager specialising in extended-stay travel and hospitality, to open nine WoodSpring Suites hotels.
As per the agreement, these hotels will be developed in Georgia and South Carolina in the next two years.
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Designed to meet the needs of extended stay travellers, WoodSpring Suites hotels offer suites featuring in-room kitchens and full-size refrigerators as well as other amenities such as laundry rooms, vending facilities, and complimentary Wi-Fi.
Some locations also offer fitness centres, lobby coffee service and other amenities.
Choice Hotels acquired the brand and franchise business of WoodSpring Suites from WoodSpring Hotels in a deal valued at approximately $231m in 2017.
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As of 30 September 2022, WoodSpring Suites has more than 200 hotels open in 32 states, with 205 hotels in the pipeline across the US.
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By GlobalDataChoice Hotels chief development officer David Pepper said: “When we acquired WoodSpring Suites four years ago, few other hotel brands were competing in the extended stay segment in a meaningful way.
“Choice Hotels not only breathed new life into this category–innovating new ways to deliver exceptional value to extended stay developers and longer-term guests–but successfully demonstrated our ability to take the industry’s largest economy extended stay brand to even greater heights.
“Our continued work with institutional investors like Noble is a key component of this success. We look forward to bringing our best-in-class extended stay offerings to more and more markets nationwide, so travellers everywhere can make the most of their time on the road, whether they stay for a week, a month, or longer.”
In September this year, Choice Hotels entered into agreement with ServiceStar Capital Management to develop 21 new Everhome Suites hotels in the US.
