Choice Hotels has lost Stewart Bainum, Sr., one of the company’s founders and a former president and chief executive officer. Bainum was 94 years old.
In a statement Steve Joyce, president and CEO of the hotel chain, offered his condolences to the Bainum family, including members of the board of directors, Stewart Bainum, Jr., and Scott Renschler.
Choice’s business began as a marketing cooperative formed by a group of seven Florida motor court owners in 1939. The group had five hotels in Florida, one in South Carolina, and one in Virginia. Already an owner of several hotels, Stewart Bainum, Sr. purchased a Quality brand hotel, and ultimately became a primary shareholder of the company. Under Bainum’s leadership, the company grew into Choice Hotels International.
“I am honored to lead Choice Hotels and honor Stewart’s legacy,” said Joyce. “He will be missed by the many lives he touched.”