SILVER SPRING, Md., Dec. 6, 2012 /PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH), Concord Hospitality, We Care Trading Co., Ltd, and Meyer Jabara Hotels today announced the official groundbreaking of three Cambria Suites hotels in New York. The properties will be located in Times Square and Chelsea in Manhattan, and downtown White Plains in nearby Westchester County. Entry into New York builds on Choice Hotels' growth in the upscale lodging segment and the expansion of Cambria Suites in key urban markets, offering business travelers a stylish, new all-suite hotel product with exceptional services and amenities at a great value. The three projects represent a combined investment of approximately $141 million in New York, the creation of nearly 1,000 jobs and 461 hotel rooms.
"Having three hotels under simultaneous construction in the New York metro area speaks volumes about the great appeal and performance potential of Cambria Suites," says Steve Joyce, President and Chief Executive Officer of Choice Hotels International. "Working with the industry's top developers gives us that extra edge in bringing this brand to New York, one of the most dynamic and highly competitive hotel and real estate markets in the country. Development demand for Cambria Suites hotels in major metropolitan markets is stronger than ever. Our rapidly-growing, award-winning brand appeals to business travelers looking for stylish, accommodations at a great price."
These new developments underscore the growing appeal of Cambria Suites to guests and franchisees. All hotels are new-construction and the brand leads the rest of the upscale lodging segment in guest satisfaction scores as measured by guests' likelihood to recommend (LTR). As of today, many Cambria Suites hotels are ranked #1 and #2 in their respective markets on TripAdvisor. Right now, across the hotel industry, demand is outpacing supply for upscale hotels which tend to primarily attract the business traveler.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV