Choice Hotels International, Inc. (NYSE: CHH) awarded an agreement to ServiceStar Hospitality to develop 14 new WoodSpring Suites hotels throughout Colorado, Arizona, and Nevada.
"The WoodSpring Suites brand continues to draw strong interest from developers across the country, furthering its position as a leader both in extended stay and the economy segment overall," said Ron Burgett, vice president, extended stay hotels development, Choice Hotels. "This transaction builds on WoodSpring's record-setting 2018 growth and will accelerate the brand's presence across the western United States. ServiceStar Hospitality has an intimate knowledge of the region and is the ideal developer to bring WoodSpring to these new markets for travelers."
All WoodSpring Suites hotels are purpose-built for the unique needs of extended-stay travelers. Hotels offer suites with in-room kitchens and full-size refrigerators in addition to amenities like fitness centers, guest laundry rooms, and complimentary Wi-Fi.
ServiceStar Hospitality is part of ServiceStar Capital Management, a Colorado real estate investment firm.
"We are very impressed with WoodSpring Suites' brand equity, operating model, franchisor support, and expected return on investment," said Jim Stilwell, co-founder and principal with ServiceStar Capital Management. "ServiceStar and our development partners are looking forward to welcoming guests across Colorado, Arizona and Nevada to experience this top-notch, extended-stay product. Our objective is to build a long and successful relationship with Choice Hotels."
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