US: Choice Hotels International has signed an agreement with Noble Investment Group to develop nine WoodSpring Suites.
The nine properties will be developed in Georgia and South Carolina over the next two years.
David Pepper, chief development officer, Choice Hotels said: “When we acquired WoodSpring Suites four years ago, few other hotel brands were competing in the extended stay segment in a meaningful way. Choice Hotels not only breathed new life into this category, innovating new ways to deliver exceptional value to extended stay developers and longer-term guests, but successfully demonstrated our ability to take the industry’s largest economy extended stay brand to even greater heights.”
WoodSpring Suites hotels are purpose-built for extended stay travellers, offering suites with in-room kitchens and full-size refrigerators, in addition to amenities like guest laundry rooms, vending facilities, and complimentary wifi. Some locations also feature fitness centres and lobby coffee service.
Pepper added: “Our continued work with institutional investors like Noble is a key component of this success. We look forward to bringing our best-in-class extended stay offerings to more and more markets nationwide, so travellers everywhere can make the most of their time on the road, whether they stay for a week, a month, or longer.”
Noble is an industry-leading real estate investment manager specialising in select service and extended stay travel and hospitality with over $5 billion in assets.
Ben Brunt, Noble’s chief investment officer said: “Noble continues to add substantial scale to our extended stay travel and hospitality platform. WoodSpring Suites has an outstanding track record of high performance across economic cycles, and we are pleased to welcome these new investments into our portfolio.”
Choice Hotels has franchised in the extended stay segment since its infancy, currently featuring WoodSpring Suites and the refreshed Suburban Studios brands (economy extended stay), as well as MainStay and Everhome Suites (midscale extended stay) – we recently reported the first Everhome Suites opening in California.
