Choice Hotels Announces Alliance With Sercotel Hotels
ROCKVILLE, Md., April 11, 2018 /PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest hotel companies, reinforces its focus on international growth through a strategic alliance announced today with Sercotel Hotels, a leading hotel operator and franchisor based in Spain. The alliance establishes the framework for the extension of Choice Hotels' global footprint into Spain and other markets, as well as the creation of new opportunities for additional hotel development across Europe and Latin America.
Through this alliance, Choice Hotels' brands will leverage the hotel management arm of Sercotel Hotels to provide hotel owners with a comprehensive solution and strong value proposition in international markets, specifically the force of Choice's brand awareness and distribution channels, supported by its leading digital platform, united with the proven hotel management expertise of Sercotel Hotels.
The strategic alliance also contemplates Choice expanding its presence in Spain and Latin America by adding select Sercotel Hotels properties to the Choice Hotels global hotel distribution network, enabling guests to shop and book certain Sercotel hotels on ChoiceHotels.com and the Choice Hotels mobile app. Guests at participating properties can also enjoy the benefits of Choice Privileges, Choice's award-winning hotel loyalty program.
"This relationship has the potential to create a unique and attractive offering for our worldwide guests and hotel owners seeking to improve their return on investment," said Patrick Pacious, president and CEO of Choice Hotels. "Sercotel is one of Spain's premier management companies and complements Choice's global leadership in hotel and technology innovation. We believe that this alliance provides us a competitive edge in international markets, and in turn, enables us to enter new markets."
"Teaming up with Choice Hotels is a natural fit. Both companies value quality and are committed to providing unmatched service to guests and franchisees. By combining the complementary attributes of Sercotel and Choice Hotels, we can continue to deliver a high level of service at our hotels, while benefiting from the global reach of Choice," added Marisol Turró, president of Sercotel Hotels. "This is especially true in the flourishing Latin American market where the combination of Choice's powerful hotel brands and our Spanish hospitality management have great appeal."
About Choice Hotels
Choice Hotels International, Inc. (NYSE: CHH) is one of the world's largest hotel companies. With over 6,800 hotels franchised in more than 40 countries and territories, Choice Hotels International represents more than 500,000 rooms around the globe, and as of February 1, 2018, more than 1,000 hotels were in its development pipeline. Our company's Ascend Hotel Collection®, Cambria® Hotels, Comfort Inn®, Comfort Suites®, Sleep Inn®, Quality®, Clarion®, MainStay Suites®, Suburban Extended Stay Hotel®, WoodSpring Suites®, Econo Lodge®, Rodeway Inn®, and Vacation Rentals by Choice Hotels® brands provide a spectrum of lodging choices to meet guests' needs. With more than 35 million members, our Choice Privileges® rewards program enhances every trip a guest takes, with benefits ranging from every day rewards to exceptional experiences, starting right when they join. All hotels and vacation rentals are independently owned and operated. Visit us at www.choicehotels.com for more information.
About Sercotel Hotels
Well-known for its center-city locations and sought-after destinations, Sercotel Hotels has a leading position in Spain with a large network of mid-to-upscale properties, marketed under its 3 different collections which segment quality and brand standards, and is rapidly increasing its presence in Latin America. The company currently has over 170 hotels representing 17,194 rooms and more than 100 destinations throughout Spain, Andorra, Portugal, Italy and several Latin American countries including Colombia and Panama.
Forward-Looking Statements
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, our use of words such as "expect," "estimate," "believe," "anticipate," "should," "will," "forecast," "plan," "project," "assume" or similar words of futurity identify such forward-looking statements. These forward-looking statements are based on management's current beliefs, assumptions and expectations regarding future events, which in turn are based on information currently available to management. Such statements may relate to projections of the company's international growth and future operations, among other matters. We caution you not to place undue reliance on any such forward-looking statements. Forward-looking statements do not guarantee future performance and involve known and unknown risks, uncertainties and other factors. Several factors could cause actual results, performance or achievements of the company to differ materially from those expressed in or contemplated by the forward-looking statements. Such risks include, but are not limited to, changes to general, domestic and foreign economic conditions; foreign currency fluctuations; operating risks common in the lodging and franchising industries; and changes to the desirability of our brands as viewed by hotel operators and customers. These and other risk factors are discussed in detail in the company's filings with the Securities and Exchange Commission including our annual report on Form 10-K for 2017 and our quarterly reports filed on Form 10-Q. Except as may be required by law, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
©2018 Choice Hotels International, Inc. All rights reserved.
SOURCE Choice Hotels International, Inc.
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