ROCKVILLE, Md., April 29, 2016 /PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest hotel companies, joined developers Fillmore Capital Partners, Fillmore Hospitality and Murphy Asset Management to celebrate the debut of two new Cambria hotel & suites projects in Chicago, Ill. today.
As part of the announcement, a panel discussion was held that highlighted key elements of the conversions planned for both Chicago hotels, as well as the growth of the city as a destination for business and millennial travelers. During the panel discussion, interim CEO of Choose Chicago, Marc Anderson, noted that domestic visitation for 2015 topped 50 million visitors for the first time in history with total visitation expected to exceed 52 million. Chicago is one of the country's largest business hubs with a number of Fortune 500 companies headquartered in the region, including Boeing, Archer Daniels Midland, United Continental Holdings and the Exelon Corporation. Additionally, as the home to the largest convention center in the nation, Chicago has a robust meetings and conventions industry. In 2015, business visitation grew an impressive 5.1 percent to 11.65 million, the second post-recession occurrence of business visitation over 11 million
"As one of the most iconic cities in the country, Chicago is a perfect match for our two new Cambria hotel & suites conversions," said Steve Joyce, president and CEO of Choice Hotels International. "The City Center and Magnificent Mile locations are great additions to our urban, upscale brand offerings as we continue to expand our footprint nationwide, and are well-suited to meet the growing needs of Chicago's business travelers."
Cambria hotel & suites Chicago – City Center, featuring 22 stories and 198 rooms, will be located above the historic Ford Center for the Performing Arts Oriental Theatre and is set to officially open in September 2017. The new hotel will sit in Chicago's energetic central business district, or "Loop" neighborhood, and will be directly across the street from a number of high end restaurants and retail outlets known collectively as Block Thirty Seven.
Cambria hotel & suites Chicago – Magnificent Mile, with 29 stories and 215 rooms, will be located in the existing MileNorth Hotel, and is set to officially be rebranded in mid-2017. The hotel will sit between Chicago's Magnificent Mile and the picturesque shores of Lake Michigan. Guests traveling on leisure will be able to take advantage of the many attractions the area offers, including Millennium Park, the John Hancock Center, Skydeck Chicago and the Chicago Riverwalk.
"We're excited to once again team up with Cambria hotel & suites and bring the brand to the city of Chicago," said Ron Silva, President and CEO of Fillmore Capital Partners. "After having partnered with Cambria across the country in Los Angeles, New Orleans, and Nashville, the Windy City was a natural next stop."
"Having an intimate knowledge and understanding of the Chicago market, we are thrilled to be working in partnership with Cambria hotel & suites," said John T. Murphy, CEO and Principal of Murphy Asset Management. "The Loop is recognized as the epicenter of the city with convenient access to both business and lifestyle entertainment options in Chicago. We are confident that the Cambria hotel & suites Chicago – City Center will be a prime addition to the city."
Designed as a business travel and leisure brand, all Cambria hotels & suites feature a larger lobby to give guests a more social atmosphere; oversized rooms with flexible spaces; and the latest technology that allows guests to stay connected while they travel.
About Cambria hotels & suites Cambria hotels & suites makes business travel easier—and more fun—than ever before. Offering modern décor, rooms that feel like an upgrade, and fresh, local cuisine at our Social Circle™ restaurant, Cambria makes every guest feel like a VIP. There are currently 25 properties open across the country and 30 under development in the U.S. and Canada. To learn more, visit www.cambriahotelsandsuites.com.
About Choice Hotels Choice Hotels International, Inc. (NYSE: CHH) is one of the world's largest lodging companies. With more than 6,400 hotels franchised in more than 35 countries and territories, Choice Hotels International® represents more than 500,000 rooms around the globe. As of December 31, 2015, 720 hotels were in our development pipeline. Our company's Ascend Hotel Collection®, Cambria® hotels & suites, Comfort Inn®, Comfort Suites®, Sleep Inn®, Quality®, Clarion®, MainStay Suites®, Suburban Extended Stay Hotel®, Econo Lodge®, Rodeway Inn®, and Vacation Rentals by Choice Hotels™ brands provide a spectrum of lodging choices to meet guests' needs. With more than 25 million members and counting, our Choice Privileges® rewards program enhances every trip a guest takes, with benefits ranging from instant, 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 Fillmore Capital Partners Fillmore Capital Partners, LLC, is a private investment company that engages in the development, management, and distribution of investment vehicles for institutional and select private-client investors. FCP invests on behalf of its clients in lodging, healthcare, and operating company platforms, as well as opportunistic investments in other real estate asset classes. To learn more, visit www.fillmorecap.com.
About Fillmore Hospitality Fillmore Hospitality, LLC is a management company that provides a full spectrum of development, investment and property management services to owners of hotels and resorts throughout North America. The firm's principals and executives have worked together for more than 25 years to deliver consistently superior financial results for their clients. Visit www.fillmorehospitality.com for more information.
About Murphy Asset Management Murphy Asset Management, LLC focuses on generating development opportunities in the multifamily, hospitality and office sectors across the country. Through sound investment strategies and extensive due diligence, the dynamic development team at Murphy Asset Management identifies, evaluates and executes projects by combining sound financial modeling, economic analysis and entrepreneurial creativity. Murphy Asset Management more recent hotel developments include Hyatt Centric The Loop Chicago, Hampton Inn Chicago Motor Club, and the Holiday Inn Cleveland Clinic To learn more, visit www.murphyassetmanagement.com.