Choice Hotels' Upscale Brands Continue Portfolio Growth
Cambria Hotels Produces Strongest RevPAR Index in 2021 Versus Local Competitors in Brand History, while Ascend Hotel Collection Outperforms Upscale Chain Scale in RevPAR by 26 Percentage Points in Second Quarter 2021, Compared to 2019
ROCKVILLE, Md., Sept. 21, 2021 /PRNewswire/ -- Choice Hotels International, Inc.'s (NYSE: CHH) upscale brands, the Ascend Hotel Collection and Cambria Hotels, achieved impressive domestic room count growth of 24% year-over-year and outperformed local competitors in RevPAR share gains by 12 and 14 percentage points respectively in the first half of 2021. The success of Ascend, a global portfolio of resort, boutique and historic hotels, and Cambria, designed for modern travelers with a distinct local experience, further validates the company's strategic focus on growing this revenue-intense segment.
"With Americans rediscovering domestic destinations and the continued return to travel, as well as the trend of work from anywhere, guests are increasingly turning to Ascend and Cambria, thanks to their uniquely local experience and upscale amenities that allow for exploration. As a result, our upscale brands are outperforming the local competition at record levels," said Janis Cannon, senior vice president, upscale brands, Choice Hotels. "In addition to the brands' performance strength compared to the competition, both Ascend and Cambria have continued to expand. Recently, we've added several waterfront and mountain retreats to Ascend — from the Eastern Shore of Maryland to the scenic mountains in the southeast corner of New Mexico. Plus, Cambria has welcomed hotels in Washington D.C., Orlando, Fort Lauderdale and Napa Valley so far this year and expects to open several additional properties before the end of the year, including in Austin, Texas; Nashville, Tennessee; and Louisville, Kentucky."
Choice's upscale brands experienced several notable achievements in the first half of the year, including:
Both Ascend and Cambria led its local competitors in occupancy and average daily rate in the first half of the year. Combined, these brands set a record for upscale domestic openings in the first half of the year, including 22 properties added as part of the company's strategic alliance with Penn National Gaming.
"Our results in the first half of the year are proof that our upscale brands offer an attractive value proposition for current and prospective owners," said Mark Shalala, senior vice president of development, upscale brands, Choice Hotels. "While Ascend affords franchisees the opportunity to convert an existing asset and tap into our industry-leading tools and resources, Cambria allows developers to build new-construction or adaptive reuse hotels in major markets. Further, with guests enjoying the brands as much as they do, developers recognize their value and return-on-investment potential."
For more information about Choice's upscale development opportunities, visit https://choicehotelsdevelopment.com.
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