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WoodSpring Suites Signed Record Number of Franchise Agreements in Q1 2018

WoodSpring Suites Signed Record Number of Franchise Agreements in Q1 2018

ROCKVILLE, Md.—The WoodSpring Suites brand has been strengthening its position in the extended-stay segment since joining the Choice Hotels family of brands on February 1, 2018. In total, the company signed 33 new franchise agreements in the first quarter, the highest level of quarterly activity in the brand’s history, including 31 since the acquisition. The brand expects to surpass 250 open hotels this year.

“Developers have embraced the WoodSpring Suites brand. The acquisition by Choice Hotels and all of the resources that they bring to the table furthers interest in the brand, and resulted in our record-setting first quarter, including 19 franchise agreements with the brand’s largest developer,” says Ron Burgett, vice president, WoodSpring Suites development, Choice Hotels. “The extended-stay segment is on fire, and the WoodSpring Suites brand continues to be a leader in the category.”

The brand recorded a RevPAR increase of 13.5 percent compared to the same period of the prior year. A total of 17 hotel openings and more than 50 groundbreakings are planned for 2018, including the first property in Oregon state. Four hotels opened in the first quarter in top-tier markets across the country, including near Chicago in Tinley Park, Ill.; between Detroit and Pontiac, Mich.; near Providence, R.I.; and in Seattle-Redmond, 16 miles from Seattle.

“There have been many significant accomplishments for the WoodSpring Suites brand in the first 90 days since welcoming the brand to the Choice family,” says Ralph Thiergart, vice president and general manager, extended-stay brands, Choice Hotels. “WoodSpring Suites owners have expressed excitement for being a part of Choice to help them grow, which includes our world-class franchise-development team, distribution channels, and technology platform. In fact, we have leveraged best practices, talent, and operations from the WoodSpring Suites brand’s successful model to benefit our entire portfolio of more than 350 extended-stay properties, which includes the brands MainStay Suites and Suburban.”

The MainStay Suites and Suburban Extended Stay hotel brands also experienced record growth in the first quarter of 2018. Choice awarded 13 franchise agreements combined for the MainStay Suites and Suburban brands. Additionally, the MainStay Suites brand experienced an 11.4 percent increase in RevPAR as compared to the same period of the prior year.

 

Top photo: WoodSpring Suites Chicago-Tinley Park

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