With improving economic conditions, the hotel industry seems to be growing in the U.S. Revenue per available room is improving due to lower supply, strong demand and constant higher pricing in the country. In order to benefit from such lucrative opportunities, leading hotelier Choice Hotels International Inc. (CHH) is consistently trying to grow on the national front.
The company has been taking significant initiatives to expand the presence of its independently owned and operated high-end, historic and boutique style Ascend Collection brand. In this regard, Choice Hotels recently launched 5 properties under the brand across the U.S.
These properties — La Posada Lodge & Casitas, Parc England Boutique Hotel, Salvatore's Garden Place Hotel, Port Inn and Atherton Hotel — are located in Tucson, Ariz., Central Louisiana, La., Buffalo, N.Y., Portsmouth, N.H., and State College, Penn., respectively.
This Zacks Rank #2 (Buy) company has set a trend in hotel design with the Ascend Collection brand. Since its Jan 2008 launch, the brand has built a substantial development pipeline and is poised to benefit from the increase in demand for hotels, going forward.
With this latest inclusion, the Ascend Hotel will have 121 hotels spread across the U.S., Canada, the Caribbean, Europe and Central America. As part of the Choice Hotels group, these properties get to reap the benefits of its much greater scale, its industry leading reservations and marketing system, as well as the rewards from their loyalty program.
Several other hoteliers including Intercontinental Hotels Group plc (IHG), Starwood Hotels & Resorts Worldwide Inc. (HOT) and Marriott International, Inc. (MAR) have also introduced similar contemporary lifestyle brand concepts like Ascend Hotel. These brands are Holiday Inn, Four Points by Sheraton and Autograph Collection by Intercontinental Hotels and Starwood and Marriott, respectively.
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