ROCKVILLE, MD. - The WoodSpring Suites brand recently surpassed another milestone with the opening of its 250th hotel in the greater Portland, Ore., area. This landmark achievement coincides with the one-year anniversary of the Choice Hotels International, Inc. acquisition of the WoodSpring brand and franchise business.
Since the acquisition of WoodSpring Suites in February 2018, Choice Hotels has grown the extended-stay brand's system size, development pipeline, RevPAR and Choice delivered proprietary contribution, specifically:
RevPAR increased 7.6 percent in 2018 over the previous year, exceeding the industry by 470 basis points.
Coast-to-coast expansion in key markets, including Atlanta; Charlotte, N.C.; Chicago; Houston; Reno, Nev.; and Seattle.
A year of record-setting development growth with 75 contracts awarded, which significantly exceeds the number of new franchise agreements previously granted in a single year for the WoodSpring brand. In fact, the total number of new extended-stay franchise agreements Choice awarded increased by 156 percent, including a 37-percent increase for MainStay and Suburban.
A pipeline of 117 hotels, the largest in brand history.
Operational improvements, including a 24-percent increase in website revenue delivery, a 5.5-percent improvement in call-center conversion rate, and an 18-percent increase in the brand's corporate accounts.
Impressive extended-stay occupancy with almost 90 percent of WoodSpring Suites guests staying for over a week.
"Choice evaluates growth opportunities carefully - and our deliberate strategy to welcome WoodSpring Suites into our family of brands is paying off," said Patrick Pacious, president and CEO, Choice Hotels. "The WoodSpring Suites brand has seen significant business delivery growth nearly every month since the acquisition. As we continue to integrate the power of Choice with the brand, WoodSpring Suites' trajectory as one of the fastest growing and most profitable hotel brands is expected to yield high returns on investment for its owners. In addition, the acquisition has benefited our entire extended-stay portfolio, including the MainStay Suites and Suburban Extended Stay brands, and solidifies our position as a leader in the extended-stay segment."
The WoodSpring Suites brand expects to open approximately 20 hotels this year in markets, such as Miami and Orlando, Fla.; Sacramento, Calif.; and San Antonio. Choice anticipates having around 300 WoodSpring Suites hotels open and serving guests across the country by the end of 2020.
WoodSpring Suites Debuts First Hotel in Oregon
Choice Hotels International, Inc., in collaboration with Brookwood Hotels, announced the opening of the WoodSpring Suites Portland North Gresham. The new hotel is the brand's 250th and the first to open in the state of Oregon, marking its continued coast-to-coast expansion.
Choice Hotels International, Inc., in collaboration with Brookwood Hotels, announced the opening of the WoodSpring Suites Portland North Gresham. The new hotel is the brand's 250th and the first to open in the state of Oregon, marking its continued coast-to-coast expansion.
"The WoodSpring Suites Portland North Gresham represents an important next step for the brand as we seek opportunities in key markets throughout the country with strong extended-stay demand drivers and diverse economic landscapes," said Ralph Thiergart, vice president and general manager, extended stay brands, Choice Hotels. "Portland is one of the most business-friendly cities in the nation and an ideal fit for the brand's milestone 250th opening. We look forward to continuing the brand's nationwide growth with Brookwood Hotels."
The four-story, 122 room WoodSpring hotel is located at 3013 Northeast 181st Avenue in Portland's Gresham neighborhood, providing convenient access to downtown Portland attractions and Portland International Airport. The hotel is also a short drive to several universities, hospitals and corporate offices, including Fortune 500 companies Nike, Boeing, and Lithia Motors Inc. and subsidiaries of Intel, eBAY, and Hewlett-Packard.
The new construction hotel is purpose-built for the unique needs of extended-stay travelers. Each suite features an in-room kitchen equipped with a full-size refrigerator and free Wi-Fi. The WoodSpring Suites Portland North Gresham is also 100-percent smoke free and offers an expanded lobby with a coffee station, free parking, as well as a guest laundry room and fitness center that are available 24/7.
"Last year, we teamed with Choice to debut the WoodSpring Suites brand in Nevada and are thrilled to build upon that growth in new markets with another milestone opening," said Darien Wright, chief operating officer, Brookwood Hotels. "The WoodSpring Suites Portland North Gresham offers guests the perfect location and all of the amenities needed to make for a successful longer-term stay."
The WoodSpring Suites Portland North Gresham will join Brookwood Hotels' rapidly expanding portfolio of more than 100 WoodSpring hotels throughout the country, with additional projects currently under construction. The hotel is managed by Nationwide Hotel Management Company.
