Choice Hotels International Welcomes Woodspring Suites To Their Franchise Family

Choice Hotels International adds WoodSpring Suites to their portfolio of franchised brands.

One of the world’s hotel giants, Choice Hotels International has announced the acquisition of the fastest growing value extended-stay hotel company in the US - WoodSpring SuitesSM from WoodSpring Hotels Holdings LLC. A portfolio company of Lindsay Goldberg, WoodSpring SuitesSM was amassed for approximately $231 million and will add 240 extended-stay hotels to Choice Hotel portfolio of over 350 properties with existing brands, MainStay Suites® and Suburban Extended Stay®.

WoodSpring Suites brings Choice Hotel’s portfolio of existing extended-stay brands a franchise business with a wealth of market leading capabilities. As part of the deal, Choice Hotels International will take onboard WoodSpring Suites franchise business employees, strengthening the franchisee relationships responsible for the brand’s success and providing generous returns and resilience through market cycles. Choice Hotels International president and chief executive officer, Patrick Pacious said: "We are pleased to announce our plans to welcome WoodSpring Suites to our portfolio of brands. Like Choice Hotels, WoodSpring Suites has demonstrated exceptional customer service, attractive franchisee returns on investment, and tremendous growth.”

"Extended stay is a fast-growing segment, reporting some of the strongest gains in demand and has led the hospitality industry in annual RevPAR growth. The addition of the WoodSpring Suites brand will allow us to strengthen our scale within the attractive extended-stay segment, expand our runway for growth, and continue to create value for our customers, franchisees and shareholders."

In recent years, WoodSpring Suites has carried out a successful brand relaunch and repositioning that resulted in unit growth of over 25% and a 45% increase of franchise fee revenue growth. Twenty-five more hotels are scheduled to open in 2018.

WoodSpring’s president and chief executive officer, Gary A. DeLapp said: "Choice Hotels and WoodSpring Suites share the same values and dedication to customer service and franchisees. We are thrilled that our brand will join the powerful value proposition that Choice Hotels offers and know our commitment to providing the best guest experience will remain a priority."