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Choice Hotels (CHH) Expands Presence in Maryland & California
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Choice Hotels International, Inc.’s (CHH - Free Report) Cambria Hotels — an upscale brand — continues to expand presence. The company has expanded footprint across both the east and west coasts of the United States this month.
Cambria brand has opened Waterfront Hotel in Ocean City, MD and Wine Country Retreat in Sonoma, CA. Apart from these two properties, the company has also opened hotels in Bloomington, MN; Greenville, SC; Madeira Beach, FL and Summerville, SC.
Janis Cannon, senior vice president, upscale brands, Choice Hotels said “With leisure travel returning faster than business travel right now, we're thrilled to offer these getaways so guests can have the chance to relax, rejuvenate and disconnect.”
The four-story, 135-room Cambria Hotel Sonoma Wine Country is the brand's third property in California. Meanwhile, the eight-story, 137-room Cambria Hotel Ocean City - Bayfront is Cambria's fourth property in Maryland.
The Cambria brand has been doing solid business. In 2019, the brand opened 11 new hotels, representing over 1,700 upscale rooms in major markets like Boston, Houston and Phoenix.
Continual Expansion Bodes Well
Choice Hotels relies heavily on expansion in both domestic and international markets. Alongside domestic growth, the company continues to expand its international footprint in new countries. Key international operating markets include Spain, Colombia, Panama, the Caribbean and Canada. Relatively new to the midscale portfolio, Clarion Pointe — part of the popular Clarion brand — is experiencing great success with more than 30 domestic franchise agreements in 2019.
So far this year, shares of Choice Hotels have fallen 9.7% compared with the industry’s decline of 28.7%.
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Choice Hotels (CHH) Expands Presence in Maryland & California
Choice Hotels International, Inc.’s (CHH - Free Report) Cambria Hotels — an upscale brand — continues to expand presence. The company has expanded footprint across both the east and west coasts of the United States this month.
Cambria brand has opened Waterfront Hotel in Ocean City, MD and Wine Country Retreat in Sonoma, CA. Apart from these two properties, the company has also opened hotels in Bloomington, MN; Greenville, SC; Madeira Beach, FL and Summerville, SC.
Janis Cannon, senior vice president, upscale brands, Choice Hotels said “With leisure travel returning faster than business travel right now, we're thrilled to offer these getaways so guests can have the chance to relax, rejuvenate and disconnect.”
The four-story, 135-room Cambria Hotel Sonoma Wine Country is the brand's third property in California. Meanwhile, the eight-story, 137-room Cambria Hotel Ocean City - Bayfront is Cambria's fourth property in Maryland.
The Cambria brand has been doing solid business. In 2019, the brand opened 11 new hotels, representing over 1,700 upscale rooms in major markets like Boston, Houston and Phoenix.
Continual Expansion Bodes Well
Choice Hotels relies heavily on expansion in both domestic and international markets. Alongside domestic growth, the company continues to expand its international footprint in new countries. Key international operating markets include Spain, Colombia, Panama, the Caribbean and Canada. Relatively new to the midscale portfolio, Clarion Pointe — part of the popular Clarion brand — is experiencing great success with more than 30 domestic franchise agreements in 2019.
So far this year, shares of Choice Hotels have fallen 9.7% compared with the industry’s decline of 28.7%.
Choice Hotels, which shares space with Marriott (MAR - Free Report) , Hilton (HLT - Free Report) and Hyatt (H - Free Report) , carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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