Choice Hotels International, Inc. (NYSE: CHH) today announced aggressive growth and development plans for its upscale brand Cambria Hotels in 2017. Cambria now has 30 hotels open across the United States, and more than 70 in the pipeline. Four hotels have opened in 2017 and 10 more will open by the end of the year. In addition, 18 ground breakings and multiple executed franchise agreements are expected.
Two Cambria properties opened in May, in Los Angeles – LAX and Chicago Loop-Theatre District, following the celebration of two openings in Texas earlier this year in Southlake (Dallas) and McAllen. The Cambria in Newport, R.I. also will be opening soon.
Here are additional details about the recently and soon-to-be open properties:
- Cambria Hotel Los Angeles – LAX – The Los Angeles – LAX property opened on May 2, as the first Cambria in California and first of five properties planned for the Los Angeles area. The 152-room upscale property is minutes from Los Angeles International Airport. The property features a modern design that takes its cues from the fashion-forward city that surrounds it, including Mid-century modern accents and exclusive vibrant local artwork reminiscent of 1950s Los Angeles.
- Cambria Hotel Chicago Loop - Theatre District – The 22-story, 199-room property opened on May 25 and is the brand's first adaptive reuse project and second hotel in Chicago. Situated above the historic Ford Center for the Performing Arts Oriental Theatre, Cambria repurposed this former office building, matching the landmark status of the property with the aesthetic of the hotel. The hotel is also in the center of the Chicago Loop, an energetic business district, and home to a number of Fortune 500 company headquarters, as well as directly across the street from Block Thirty Seven, a hub of high-end restaurants and local retail outlets.
- Cambria Hotel Newport – The 129-room property is within walking distance of Easton's Beach, the iconic Newport mansions, as well as near the Naval Station and a variety of businesses. The hotel offers guests picturesque waterfront views, and opens this month.
"This is an exciting time for Choice Hotels and our upscale segment. We have great momentum with the Cambria brand expanding throughout the country, including on the west coast, in the Midwest and on the east coast," said Janis Cannon, senior vice president, upscale brands, Choice Hotels. "The pipeline is the largest that it ever has been, and we will continue to grow the brand in key U.S. markets through our aggressive acquisition of numerous land sites and buildings."
Choice Hotels is investing more than $450 million in corporate capital investment to expand the Cambria brand, and bring great properties to the right markets faster. This strategy includes identifying and purchasing land and buildings in key urban destinations, and leveraging these locations to secure Cambria franchise agreements. In fact, of the nearly 100 hotels that are currently open and in the Cambria pipeline, a third of these properties are a result of land or a building that was identified and secured through Choice Hotels.
Key downtown, urban locations where Choice Hotels is currently seeking partners includes Denver, Colo.; Austin, Texas, Minneapolis, Minn., Portland, Ore., Seattle, Wash., San Francisco, Calif., and Boston, Mass.
"The Cambria brand is a great investment, offering a strong value proposition for developers. We are providing meaningful levels of capital support for the right projects, enhancing developer returns and allowing them to secure construction debt at competitive terms. On top of that, we deliver all the critical tools and resources to successfully operate an upscale hotel in prime locations," said Mark Shalala, vice president, development, upscale brands, Choice Hotels. "The incredible pace of Cambria's growth is a result of a carefully planned development strategy, and our determination to make a significant impact in the upscale space. Plus, we partner with fantastic developers who recognize this compelling opportunity and share our passion and vision for the Cambria brand and its future."
Additional Cambria openings this year include properties in Dallas, New Orleans and Phoenix.
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