Choice Hotels International, Inc. (NYSE: CHH) signed an agreement with Brookwood Hotels to develop more than 20 new WoodSpring Suites hotels over the next few years. The brand now has more than 130 hotels in the pipeline and more than 245 are open.
"Sustained interest in the WoodSpring Suites brand and the performance of the business model affirms our growth strategy is working," said Ron Burgett, vice president, WoodSpring Suites development, Choice Hotels. "WoodSpring has experienced tremendous success since Choice's acquisition, breaking the brand's record for most franchise contracts awarded in a single year. We look forward to accelerating the brand's expansion with Brookwood Hotels. Together, we'll bring WoodSpring to even more markets to meet the demand for longer-term stays."
Brookwood Hotels is the largest Choice Hotels franchisee and has an existing portfolio of more than 100 WoodSpring-branded hotels across the U.S. This latest agreement outlines a plan for aggressive brand expansion across the country.
"WoodSpring Suites is a proven performer in the extended-stay segment and we're excited to increase our investment in the brand," said Darien Wright, chief operating officer, Brookwood Hotels.
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