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Choice Hotels (CHH) Boosts Cambria Brand, Expands in Florida

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Choice Hotels International, Inc.’s (CHH - Free Report) Cambria Hotels — an upscale brand — continues to expand in Florida with the opening of Cambria Hotel Fort Lauderdale Beach. Notably, this marks the fourth Cambria hotel in Florida after Cambria Hotel Ft. Lauderdale Airport South & Cruise Port and the Cambria Hotel Miami Airport – Blue Lagoon. By the end of February, Cambria Hotels expects to open four more hotels in Ft. Lauderdale Beach and Orlando, Florida; Rock Hill, South Carolina; and Washington DC.

The deluxe hotel in Fort Lauderdale Beach provides high-end amenities to attract modern travelers. These luxuries include all-purpose spaces for productive or relaxation work like a pool and rooftop bar with ocean view. Additionally, there are sophisticated guest rooms with local decorations along with spa-style bathrooms with bluetooth mirrors. The onsite dining offers fresh food, local craft beer, wine and specialty cocktails, multi-function meeting and event spaces. Also, it has a state-of-the-art fitness center.

Janis Cannon, senior vice president, upscale brands, Choice Hotels said “Cambria maintained a solid cadence of openings during a challenging 2020, and for 2021, we're looking forward to three additional hotels planned to open in February across the country.”

Expansion to Drive Growth

Choice Hotels depends largely on expansion, both in domestic and international markets. Despite the coronavirus pandemic, the company signed nearly 81 new domestic agreements in third-quarter 2020. Notably, the company opened 7100 hotels, representing nearly 600,000 rooms, in more than 40 countries and territories, as of Sep 30, 2020.

Apart from domestic growth, the company continues to expand its international footprint. The key international operating markets include Spain, Colombia, Panama, the Caribbean and Canada.

Over the past year, shares of Choice Hotels has gained 8.6% against the industry’s decline of 5.5%.

Zacks Rank

Choice Hotels — which shares space with Marriott International, Inc.(MAR - Free Report) , Hilton Worldwide Holdings Inc. (HLT - Free Report) and Hyatt Hotels Corporation (H - Free Report) in the same industry — currently 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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