USA: Choice Hotels international’s domestic pipeline grew by 14 per cent in the year to 31 December 2022.
Choice reported that its extended-stay US pipeline was reaching 496 hotels as of 31 December 2022. Patrick S. Pacious, president, CEO and director, said: “In 2022, we grew the system size across our 20 brands in the higher revenue segments by approximately 10 per cent year-over-year. In addition to our traditional strength in the upper midscale and midscale segments, the company has well-established brands with significant growth potential in the two segments with the highest developer and guest demand: extended-stay and upscale.”
The hotel now stands at 1,029 sites, representing approximately 100,000 rooms. Choice revealed its latest development figures within its quarter four 2022 earnings results. The company awarded 590 US agreements last year and an 11 per cent increase compared to the previous year.
Of the total agreements awarded, 87 per cent were for the company’s upscale, midscale and extended-stay brands. The company also awarded a record number of franchise agreements to underrepresented and minority owners in 2022, bringing the total number of executed contracts to 345 since the inception of the programme. There was a company record for domestic extended-stay franchise agreements in 2022, increasing 77 per cent compared to the same period of 2021.
Choice’s domestic U.S. hotels and rooms rose 6.5 per cent and 7.9 per cent respectively, during 2022. Therefore, the U.S. system size was 6,296 hotels and 494,409 keys at year end. Internationally, the key count rose by 9.6% across the year, from 121,716 to 133,395 rooms. In terms of site numbers, global hotels increased by 6.6% from 1,117 to 1,191.
Together this means Choice’s system now comprises 7,487 properties and 627,804 keys, equating to 6.5 per cent and 8.3 per cent upticks, year on year.
