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Choice Hotels' (CHH) Everhome Suites Expands With 3 New Hotels
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Choice Hotels International, Inc. (CHH - Free Report) will expand the footprint of one of its extended stay brands, Everhome Suites, with three new properties across the Northeast markets of the United States.
Developed in partnership with Highside Companies, the new extended stay properties will be located in Portsmouth, NH; Rochester, NY; and Somerset, NJ. The properties are named Everhome Suites Portsmouth, Everhome Suites Rochester and Everhome Suites Somerset, and are expected to open for service in the summer, spring and fall of 2025, respectively.
The new properties will house amenities including a selected number of premium one-bedroom suites, a fully equipped kitchen in every room, spa-style bathrooms, ample storage availabilities, a multipurpose lobby, communal outdoor space, 24/7 fitness center and related services.
The growing demand for extended stays in these locations makes Everhome Suites the perfect fit for fulfilling the needs of business as well as leisure travelers.
Focus on Extended Stay Properties Bodes Well
Choice Hotels’ initiatives to expand in domestic and international markets are encouraging. Its distinctive unit growth strategy remains effective, bolstering the appeal of its brands. Introduced in 2023, the company’s Everhome Suites extended stay brand is going strong with four hotels already open. The brand is generating significant interest among developers with approximately 70 domestic projects in the pipeline including 20 under construction. As of the first quarter of 2024, more than 10 properties under the brand are expected to open by 2025.
Other than Everhome Suites, Choice Hotels has three more extended stay properties — WoodSpring Suites, Mainstay Suites and Suburban Extended Stay Hotel. As of the first quarter, under this property category, the company had nearly 40 hotels open and more than 400 properties in the pipeline across its four extended-stay brands.
Image Source: Zacks Investment Research
Shares of this global hotel franchisor have gained 0.5% in the past six months compared with the Zacks Hotels and Motels industry’s 11.7% growth. Although shares of CHH have underperformed its industry, its focus on strategic expansion initiatives, hotel conversion opportunities and diversified product portfolio are likely to boost growth momentum in 2024 and beyond.
Zacks Rank & Key Picks
Choice Hotels currently carries a Zacks Rank #3 (Hold).
STRA has a trailing four-quarter earnings surprise of 36.2%, on average. The stock has gained 44.7% in the past year. The Zacks Consensus Estimate for STRA’s 2024 sales and earnings per share (EPS) indicates an increase of 6.4% and 33.3%, respectively, from the year-ago levels.
Netflix, Inc. (NFLX - Free Report) presently sports a Zacks Rank of 1. NFLX has a trailing four-quarter earnings surprise of 9.3%, on average. The stock has risen 58% in the past year.
The consensus estimate for NFLX’s 2024 sales and EPS implies a rise of 14.8% and 52.2%, respectively, from the year-ago levels.
Royal Caribbean Cruises Ltd. (RCL - Free Report) currently sports a Zacks Rank of 1. RCL has a trailing four-quarter earnings surprise of 18.3%, on average. The stock has surged 72% in the past year.
The Zacks Consensus Estimate for RCL’s 2024 sales and EPS implies growth of 16.8% and 63.7%, respectively, from the year-ago levels.
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Choice Hotels' (CHH) Everhome Suites Expands With 3 New Hotels
Choice Hotels International, Inc. (CHH - Free Report) will expand the footprint of one of its extended stay brands, Everhome Suites, with three new properties across the Northeast markets of the United States.
Developed in partnership with Highside Companies, the new extended stay properties will be located in Portsmouth, NH; Rochester, NY; and Somerset, NJ. The properties are named Everhome Suites Portsmouth, Everhome Suites Rochester and Everhome Suites Somerset, and are expected to open for service in the summer, spring and fall of 2025, respectively.
The new properties will house amenities including a selected number of premium one-bedroom suites, a fully equipped kitchen in every room, spa-style bathrooms, ample storage availabilities, a multipurpose lobby, communal outdoor space, 24/7 fitness center and related services.
The growing demand for extended stays in these locations makes Everhome Suites the perfect fit for fulfilling the needs of business as well as leisure travelers.
Focus on Extended Stay Properties Bodes Well
Choice Hotels’ initiatives to expand in domestic and international markets are encouraging. Its distinctive unit growth strategy remains effective, bolstering the appeal of its brands. Introduced in 2023, the company’s Everhome Suites extended stay brand is going strong with four hotels already open. The brand is generating significant interest among developers with approximately 70 domestic projects in the pipeline including 20 under construction. As of the first quarter of 2024, more than 10 properties under the brand are expected to open by 2025.
Other than Everhome Suites, Choice Hotels has three more extended stay properties — WoodSpring Suites, Mainstay Suites and Suburban Extended Stay Hotel. As of the first quarter, under this property category, the company had nearly 40 hotels open and more than 400 properties in the pipeline across its four extended-stay brands.
Image Source: Zacks Investment Research
Shares of this global hotel franchisor have gained 0.5% in the past six months compared with the Zacks Hotels and Motels industry’s 11.7% growth. Although shares of CHH have underperformed its industry, its focus on strategic expansion initiatives, hotel conversion opportunities and diversified product portfolio are likely to boost growth momentum in 2024 and beyond.
Zacks Rank & Key Picks
Choice Hotels currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Zacks Consumer Discretionary sector.
Strategic Education, Inc. (STRA - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
STRA has a trailing four-quarter earnings surprise of 36.2%, on average. The stock has gained 44.7% in the past year. The Zacks Consensus Estimate for STRA’s 2024 sales and earnings per share (EPS) indicates an increase of 6.4% and 33.3%, respectively, from the year-ago levels.
Netflix, Inc. (NFLX - Free Report) presently sports a Zacks Rank of 1. NFLX has a trailing four-quarter earnings surprise of 9.3%, on average. The stock has risen 58% in the past year.
The consensus estimate for NFLX’s 2024 sales and EPS implies a rise of 14.8% and 52.2%, respectively, from the year-ago levels.
Royal Caribbean Cruises Ltd. (RCL - Free Report) currently sports a Zacks Rank of 1. RCL has a trailing four-quarter earnings surprise of 18.3%, on average. The stock has surged 72% in the past year.
The Zacks Consensus Estimate for RCL’s 2024 sales and EPS implies growth of 16.8% and 63.7%, respectively, from the year-ago levels.