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Choice Hotels (CHH) Boost Presence in California With New Hotel
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Choice Hotels International, Inc.’s (CHH - Free Report) Cambria brand recently announced the addition of the Cambria Hotel Calabasas in California. This marks the brand’s fifth property in the region, joining the likes of Cambria Hotel Anaheim Resort Area, Cambria Hotel LAX, Cambria Hotel Sonoma Wine Country and Cambria Hotel Napa Valley.
Located at 26400 Rondell Street, the 125-room upscale hotel provides guests access to amenities like fitness centers, on-site dining and multi-function indoor-outdoor meeting spaces. The property is in proximity to several leisure attractions such as the Malibu Creek State Park, Pepperdine University, the Ronald Reagan Presidential Library, Camarillo Premiere Outlet Malls and Thousand Oaks Civic Arts Plaza. It also offers convenient access to several corporations, including Cheesecake Factory and Harbor Freight.
With reference to the opening, Janis Cannon, senior vice president, upscale brands, Choice Hotels, stated, "With everything California has to offer — from beaches, a top-notch culinary scene and world-class entertainment to many Fortune 500 company headquarters — we're thrilled to bring our modern, upscale experience to another Golden State location."
The Cambria Hotels brand is a major growth driver for the company. During third-quarter 2021, the company’s upscale portfolio reported impressive unit growth of 22% year over year, primarily driven by Cambria and the Ascend Hotel Collection. During the quarter, the Cambria brand continued its positive momentum with unit growth of more than 9% year over year. The company stated that it has almost 60 Cambria hotels open across cities such as Chicago, Los Angeles, New York, New Orleans and Phoenix. The company anticipates ramped-up expansion across major U.S. cities. Further, it stated that it has 70 Cambria hotels in the pipeline. The company announced the addition of Cambria Hotel Austin Airport in Austin, TX in 2022.
Price Performance
Image Source: Zacks Investment Research
So far this year, shares of Choice Hotels have gained 38.4% compared with the industry’s 7.2% growth. The company is benefiting from continual expansion strategies through acquisitions and franchise agreements. Also, its focus on the loyalty program bodes well. Going forward, the company continues to focus on expansion strategies, enhancement of the mid-scale brand as well as transformation and advancement of the Comfort brands to drive growth in the upcoming periods. Earnings estimates for 2022 have moved up in the past 30 days, depicting analysts’ optimism regarding the stock’s growth potential.
Some better-ranked stocks in the Consumer Discretionary sector include Hilton Grand Vacations Inc. (HGV - Free Report) , Bluegreen Vacations Holding Corporation and Camping World Holdings, Inc. (CWH - Free Report) .
Hilton Grand Vacations sports a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 411.1%, on average. Shares of the company have increased 54.1% so far this year.
The Zacks Consensus Estimate for Hilton Grand Vacations’ current financial-year sales and earnings per share (EPS) suggests growth of 189.5% and 158.1%, respectively, from the year-ago period’s levels.
Bluegreen Vacations flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 695%, on average. Shares of the company have surged 149.6% so far this year.
The Zacks Consensus Estimate for Bluegreen Vacations’ current financial-year sales and EPS indicates growth of 27.5% and 199.3%, respectively, from the year-ago period’s levels.
Camping World carries a Zacks Rank #2 (Buy). The company benefits from the launch of a fresh peer-to-peer RV rental marketplace and a mobile service marketplace. It has been investing heavily in product development.
Camping World has a trailing four-quarter earnings surprise of 70.9%, on average. Shares of the company have appreciated 47.2% so far this year. The Zacks Consensus Estimate for CWH’s financial-year sales and EPS suggests growth of 25.9% and 80.1%, respectively, from the year-ago period’s levels.
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Choice Hotels (CHH) Boost Presence in California With New Hotel
Choice Hotels International, Inc.’s (CHH - Free Report) Cambria brand recently announced the addition of the Cambria Hotel Calabasas in California. This marks the brand’s fifth property in the region, joining the likes of Cambria Hotel Anaheim Resort Area, Cambria Hotel LAX, Cambria Hotel Sonoma Wine Country and Cambria Hotel Napa Valley.
Located at 26400 Rondell Street, the 125-room upscale hotel provides guests access to amenities like fitness centers, on-site dining and multi-function indoor-outdoor meeting spaces. The property is in proximity to several leisure attractions such as the Malibu Creek State Park, Pepperdine University, the Ronald Reagan Presidential Library, Camarillo Premiere Outlet Malls and Thousand Oaks Civic Arts Plaza. It also offers convenient access to several corporations, including Cheesecake Factory and Harbor Freight.
With reference to the opening, Janis Cannon, senior vice president, upscale brands, Choice Hotels, stated, "With everything California has to offer — from beaches, a top-notch culinary scene and world-class entertainment to many Fortune 500 company headquarters — we're thrilled to bring our modern, upscale experience to another Golden State location."
The Cambria Hotels brand is a major growth driver for the company. During third-quarter 2021, the company’s upscale portfolio reported impressive unit growth of 22% year over year, primarily driven by Cambria and the Ascend Hotel Collection. During the quarter, the Cambria brand continued its positive momentum with unit growth of more than 9% year over year. The company stated that it has almost 60 Cambria hotels open across cities such as Chicago, Los Angeles, New York, New Orleans and Phoenix. The company anticipates ramped-up expansion across major U.S. cities. Further, it stated that it has 70 Cambria hotels in the pipeline. The company announced the addition of Cambria Hotel Austin Airport in Austin, TX in 2022.
Price Performance
So far this year, shares of Choice Hotels have gained 38.4% compared with the industry’s 7.2% growth. The company is benefiting from continual expansion strategies through acquisitions and franchise agreements. Also, its focus on the loyalty program bodes well. Going forward, the company continues to focus on expansion strategies, enhancement of the mid-scale brand as well as transformation and advancement of the Comfort brands to drive growth in the upcoming periods. Earnings estimates for 2022 have moved up in the past 30 days, depicting analysts’ optimism regarding the stock’s growth potential.
Zacks Rank & Stocks to Consider
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 Consumer Discretionary sector include Hilton Grand Vacations Inc. (HGV - Free Report) , Bluegreen Vacations Holding Corporation and Camping World Holdings, Inc. (CWH - Free Report) .
Hilton Grand Vacations sports a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 411.1%, on average. Shares of the company have increased 54.1% so far this year.
The Zacks Consensus Estimate for Hilton Grand Vacations’ current financial-year sales and earnings per share (EPS) suggests growth of 189.5% and 158.1%, respectively, from the year-ago period’s levels.
Bluegreen Vacations flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 695%, on average. Shares of the company have surged 149.6% so far this year.
The Zacks Consensus Estimate for Bluegreen Vacations’ current financial-year sales and EPS indicates growth of 27.5% and 199.3%, respectively, from the year-ago period’s levels.
Camping World carries a Zacks Rank #2 (Buy). The company benefits from the launch of a fresh peer-to-peer RV rental marketplace and a mobile service marketplace. It has been investing heavily in product development.
Camping World has a trailing four-quarter earnings surprise of 70.9%, on average. Shares of the company have appreciated 47.2% so far this year. The Zacks Consensus Estimate for CWH’s financial-year sales and EPS suggests growth of 25.9% and 80.1%, respectively, from the year-ago period’s levels.