Choice Hotels International Inc. continues its growth in the extended-stay segment with three new Everhome Suites under construction, and six more in various stages of development across the Southern California region.
For the first nine months of 2023, Choice’s extended-stay hotel openings grew by 38% compared to the same period in 2022. Choice’s extended-stay domestic pipeline increased 12% year over year to more than 47,000 rooms in the third quarter of this year. The company currently has 60 Everhome Suites properties in the pipeline and more than 250 across three other extended-stay brands: MainStay Suites, Suburban Studios and WoodSpring Suites.
“With three new properties under construction in key California growth markets and six more Everhome Suites under development, Choice is continuing its leadership and growth in the extended stay segment,” said Ron Burgett, SVP, franchise development, extended-stay, Choice Hotels. “Despite challenges in new construction projects, our successful track record and strategic development approach, in collaboration with outstanding developers like Paladin Equity Capital, enable us to efficiently bring projects to fruition.”
The new California properties under construction are Everhome Suites Temecula, Everhome Suites Ontario and Everhome Suites San Bernardino. There’s currently double the demand compared to the supply of extended-stay hotels, and some of the largest areas in demand are in Los Angeles and San Bernardino. Paladin Equity Capital established the inaugural Everhome Suites in Corona, CA in 2022, and is expanding with these three additional Everhome Suites and six additional projects in various stages of development.
The hotels under construction are slated to open in the second half of 2024 and early 2025. Each will feature apartment-style rooms with well-defined areas that separate working from relaxing, as well as built-in ways for guests to customize the space.
“Choice Hotels has been an exceptionally supportive partner as we continue to build the Everhome Suites brand,” said Philip Powers, partner, Paladin Equity Capital. “Our first Everhome Suites has been open for a year and really hit its stride. We have been in close collaboration with the Choice extended-stay brand and marketing teams, working to effectively drive brand awareness and book long staying guests. Their highly sophisticated approach has been a huge asset and we’re confident the next three opening in 2024 will be very successful.”