This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Choice Hotels International To Add 46 Hotels

SILVER SPRING, Md., Jan. 14, 2013 /PRNewswire/ -- Lodging giant Choice Hotels International (NYSE: CHH) announced today the addition of 46 hotels to its family of brands. Under an agreement reached with affiliates of Colony Capital, LLC, including Colony Financial, Inc., and hospitality management company Aimbridge Hospitality, the properties will be franchised under the Quality Inn, Comfort Inn and Econo Lodge brands. The addition of these hotels, which all formerly operated as Jameson Inns, is Choice Hotels' largest single conversion transaction, excluding brand acquisitions.

"This is a significant addition of hotels to our system and a true testament to the strength of our brands," says Steve Joyce, President and CEO of Choice Hotels International. "Investors, developers and franchisees know the great value our brands deliver. We are thrilled to bring these hotels into our system and to be working with two prominent hotel companies."

Thomas J. Barrack, Jr., Chairman and CEO of Colony, said, "While we considered many brands for our hotels, we recognized that Choice is a leader in the midscale lodging segment and are delighted to be franchising with them."

The newly Choice-branded hotels are located in Alabama, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Virginia. Under this agreement, the hotels will be managed by Dallas-based Aimbridge Hospitality, one of the nation's leading hotel management firms. 

"We view this as a tremendous opportunity to reposition these properties and enhance their operating performance as well as expand our relationship with Choice Hotels," said Dave Johnson, President and CEO of Aimbridge Hospitality. "In doing so this collaboration will help open the door to pursue additional investment and management opportunities together."

Under the Quality Inn, Comfort Inn and Econo Lodge brands, the renovated hotels will provide for an enhanced guest experience.  Forty-two properties will operate as Quality Inn hotels, two as Comfort Inn hotels and two will be branded as Econo Lodge hotels.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs