Choice Hotels International Inc.’s (CHH - Snapshot Report) boutique style brand – Ascend Hotel Collection (luxury, design-led and contemporary facilities) – recently unveiled a new hotel in Calgary, Canada. Christened Hotel Elan, the new property is the first Ascend Hotel branded property in the city.
Strategically positioned at the Beltline District, Hotel Elan is near Uptown 17th Avenue and is in proximity to Calgary Tower, University of Calgary and Downtown Calgary. We expect the strategic position, wide range of amenities offered at the 62-room hotel and its contemporary ambience to create a strong guest base, going ahead.
Choice Hotels has set a trend in hotel design with its high-end, historic and boutique style Ascend Collection brand. Since its launch in Jan 2008, the brand has built a substantial development pipeline especially in the international market and is poised to benefit from the increase in demand for hotels, going forward. Year-to-date, Ascend Hotel has added 30 hotels to its portfolio with its entry into Las Vegas, Napa Valley, Sedona and Baltimore.
With this latest inclusion, the Ascend Hotel will have 100 hotels spread across the U.S., Canada, the Caribbean, Europe and Central America. As a 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 - Snapshot Report) and Starwood Hotels & Resorts Worldwide Inc. (HOT - Analyst Report) have introduced similar contemporary lifestyle brand concepts like Ascend Hotel. These brands are Holiday Inn and Four Points by Sheraton, Intercontinental Hotels and Starwood, respectively.
Choice Hotels currently carries a Zacks Rank #3 (Hold). Another hotelier that is likely to perform well in the future is Marriott Vacations Worldwide Corp. (VAC - Snapshot Report) with a Zacks Rank #1 (Strong Buy).