We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Choice Hotels (CHH) On Expansion Spree, Opens Hotel In Michigan
Read MoreHide Full Article
In a bid to expand its footprint across United States, Choice Hotels International, Inc. (CHH - Free Report) announced the opening of the Cambria Hotel Detroit-Shelby Township. This marks the second location for the Cambria Hotels brand in Michigan (after Cambria Hotel Traverse City) and the fifth new hotel opening since June 2020. Markedly, the new hotel will be joining the likes of properties in Greenville (South Carolina), Madeira Beach (Florida), Ocean City (Maryland) and Sonoma (California).
The four-story, 98-room upscale hotel provides guests access to amenities such as fitness centers, on-site dining and multi-function indoor-outdoor meeting spaces. It also provides convenient access to Michigan highway as well as office headquarters like Ford, General Motors, Chrysler and Quicken Loans.
Janis Cannon, senior vice president, upscale brands, Choice Hotels, stated, "The opening of the Cambria Hotel Detroit-Shelby Township is a tremendous example of the hard work put in by all Cambria stakeholders to increase the brand's footprint around the U.S., even while facing a challenging travel and construction environment.”
Increased Focus on Expansion Initiatives
Choice Hotels relies heavily on expansion in domestic and international markets. Despite the coronavirus pandemic, the company awarded 81 domestic franchise agreements, out of which nearly three-fourth accounted for conversion hotels. Year to date through Sep 30, the company awarded nearly 230 new domestic franchise agreements. Notably, the company expects to ramp up expansion across major U.S. cities.
Alongside domestic growth, the company continues to expand its international footprint. The key international operating markets include Spain, Colombia, Panama, the Caribbean and Canada. Currently, the company has more than 50 hotels (open or in the pipeline), thereby suggesting strong growth in its coast-to-coast expansion.
In the past six months, shares of Choice Hotels have gained 30.3% compared with the industry’s 40.3% rally.
Acushnet has a trailing four-quarter earnings surprise of 12.9%, on average.
YETI Holdings has a three-five year earnings per share growth rate of 18.3%.
2021 earnings for Vista Outdoor are expected to surge 1,033.3%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
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.
Image: Bigstock
Choice Hotels (CHH) On Expansion Spree, Opens Hotel In Michigan
In a bid to expand its footprint across United States, Choice Hotels International, Inc. (CHH - Free Report) announced the opening of the Cambria Hotel Detroit-Shelby Township. This marks the second location for the Cambria Hotels brand in Michigan (after Cambria Hotel Traverse City) and the fifth new hotel opening since June 2020. Markedly, the new hotel will be joining the likes of properties in Greenville (South Carolina), Madeira Beach (Florida), Ocean City (Maryland) and Sonoma (California).
The four-story, 98-room upscale hotel provides guests access to amenities such as fitness centers, on-site dining and multi-function indoor-outdoor meeting spaces. It also provides convenient access to Michigan highway as well as office headquarters like Ford, General Motors, Chrysler and Quicken Loans.
Janis Cannon, senior vice president, upscale brands, Choice Hotels, stated, "The opening of the Cambria Hotel Detroit-Shelby Township is a tremendous example of the hard work put in by all Cambria stakeholders to increase the brand's footprint around the U.S., even while facing a challenging travel and construction environment.”
Increased Focus on Expansion Initiatives
Choice Hotels relies heavily on expansion in domestic and international markets. Despite the coronavirus pandemic, the company awarded 81 domestic franchise agreements, out of which nearly three-fourth accounted for conversion hotels. Year to date through Sep 30, the company awarded nearly 230 new domestic franchise agreements. Notably, the company expects to ramp up expansion across major U.S. cities.
Alongside domestic growth, the company continues to expand its international footprint. The key international operating markets include Spain, Colombia, Panama, the Caribbean and Canada. Currently, the company has more than 50 hotels (open or in the pipeline), thereby suggesting strong growth in its coast-to-coast expansion.
In the past six months, shares of Choice Hotels have gained 30.3% compared with the industry’s 40.3% rally.
Zacks Rank & Key Picks
Choice Hotels currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the Zacks Consumer Discretionary sector are Acushnet Holdings Corp. (GOLF - Free Report) , YETI Holdings, Inc. (YETI - Free Report) and Vista Outdoor Inc. (VSTO - Free Report) , each sporting a Zacks Rank #1.
Acushnet has a trailing four-quarter earnings surprise of 12.9%, on average.
YETI Holdings has a three-five year earnings per share growth rate of 18.3%.
2021 earnings for Vista Outdoor are expected to surge 1,033.3%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
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.
See these 7 breakthrough stocks now>>