Choice Hotels International, Inc.’s ( CHH Quick Quote CHH - Free Report) Ascend brand recently announced the addition of The Bluff Hotel, The Cranberry, The Landon and Smart Suites to its global line of hotels and resorts. Located in Florida, Georgia, West Virginia and Vermont, respectively, the hotels are likely to offer a range of outdoor springtime activities coupled with Ascend brand’s services and hotel amenities. The Bluff Hotel is in proximity to popular attractions, such as the SCAD Art Museum and Plant Riverside District. The Cranberry hotel provides adventure-seeking guests with access to top outdoor activities and attractions such as golfing, hiking at Coopers Rock State Forest and fishing and water sports at the nearby Cheat Lake. The Landon hotel is a modern beach house that offers guests an island-inspired retreat with boutique appeal. Meanwhile, Smart Suites comes in near proximity with Lake Champlin waterfront, University of Vermont, Kwiniaska Golf Course and family-friendly ski resorts. With respect to the addition, Neerav Dudhwala, head of Ascend Hotel Collection, Choice Hotels, stated, "We know that when guests travel, they are decisive about the destinations they select for their next escape and easy access to a range of outdoor activities is a key feature they look for in a hotel, which is why we're pleased to add these exciting hotels to the Ascend portfolio." Ascend Brand a Driving Factor
Choice Hotels’ Ascend portfolio has been doing solid business. With nearly 300 hotels around the globe, Ascend has significantly outperformed the upscale soft brands (as well as the segment on a whole) in terms of year-over-year RevPAR change. During the fourth quarter of 2020, RevPAR change outperformed the upscale segment by more than 20 percentage points. Average daily rate index gained approximately 2.4 percentage points.
Moreover, in January 2021, Choice Hotels announced a strategic agreement with Penn National to offer reciprocal earning and redemption benefits to members of Choice Privileges and Penn's mychoice loyalty program. Slated for a phased roll out in 2021, the alliance will facilitate customers to earn and redeem Choice Privileges points and mychoice tier points at 22 Penn locations and more than 7,100 Choice-branded hotels. Moreover, members can access gaming brands, such as Hollywood, Ameristar and L'Auberge that include approximately 50,000 gaming machines, 1,300 table games as well as live racing and sports betting. Notably, the agreement signals an expansion in benefits for loyalty members of both the companies.
In the past six months, shares of Choice Hotels have gained 9.7% compared with the
industry’s 38.6% rally. Zacks Rank & Key Picks
Choice Hotels currently carries a Zacks Rank #3 (Hold). You can see
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