Choice Hotels International, Inc. (NYSE: CHH) opened a company record, six WoodSpring Suites hotels during the month of May. These openings, which were led by a dedicated, extended stay team, account for 732 new economy extended stay rooms from coast to coast and 1,414 total new rooms for the brand since the start of 2023, with nearly 38,000 rooms in the domestic pipeline.
As interest in extended stay from traditional hoteliers and larger commercial real estate developers picks up—due to the historical outperformance of extended stay hotels verses traditional hotels (average 15% occupancy premium), higher profitability, and more efficient operating model—Choice remains a leader in the sector. WoodSpring Suites is growing rapidly across the country, accounting for approximately 94% of the economy extended stay rooms under construction at the end of 2022.
