ROCKVILLE, Md., Sept. 27, 2018 /PRNewswire/ -- Choice Hotels Mexico, a subsidiary of Choice Hotels International, Inc. (NYSE: CHH), has signed an exclusive multi-unit agreement with SI Operaciones, a Mexican private equity fund, to develop 20 new-construction Sleep Inn hotels over the next five years. The agreement is expected to add 2,000 rooms in top markets, like Mexico City and Guadalajara, and more than triple the size of the brand's footprint in the country.
"At Choice Hotels, international expansion and multi-unit development are key pillars of our growth strategy. We are actively seeking new opportunities to increase our presence in strategic markets and our agreement with SI Operaciones will allow us to do just that," said Mark Pearce, senior vice president, international division, Choice Hotels. "Choice Hotels is well poised for major growth in Latin America, and we look forward to building upon our relationship to bring the Sleep Inn brand to more guests worldwide."
SI Operaciones currently owns and operates five Sleep Inn hotels throughout Mexico with locations in Culiacan, Mazatlan, Hermosillo, Tijuana and Mexicali. The company's sixth Sleep Inn is already under construction in Queretaro and slated to open in late 2019.
"There is tremendous opportunity for hotel development in Mexico and we are thrilled to continue our collaboration with Choice Hotels to grow our portfolio," said Mario Cordova, chairman of the Board of SI Operaciones. "We've experienced great success with the Sleep Inn brand and know these new hotels will be a welcome addition for business and leisure travelers."
The Sleep Inn prototype, introduced in Mexico in 2014, is designed to exceed the expectations of business travelers seeking midscale accommodations. Spacious and modern guest rooms, free W-Fi, complimentary hot breakfast, fitness centers, and always-in-style design aesthetics throughout the hotel make the Sleep Inn brand a winner in its competitive set.
Choice Hotels first entered the Mexican market in 2004 and currently has 32 hotels in 25 cities across the country, with more than 3,500 rooms available to guests under the Comfort, Quality Inn, and Sleep Inn brands.
About Choice Hotels Choice Hotels International, Inc. (NYSE: CHH) is one of the largest and most successful lodging franchisors in the world. With more than 6,800 hotels, representing more than 550,000 rooms, in over 40 countries and territories as of June 30, 2018, the Choice® family of hotel brands provide business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upscale, midscale, extended-stay and economy segments. The award-winning Choice Privileges® loyalty program offers members benefits ranging from everyday rewards to exceptional experiences. Comfort, Quality Inn and Sleep Inn are registered trademarks of Choice Hotels International. For more information, visit www.choicehotels.com.
Forward-Looking Statement This communication includes "forward-looking statements" about future events, including hotel openings. Such statements are subject to numerous risks and uncertainties, including construction delays, availability and cost of financing and the other "Risk Factors" described in our Annual Report on Form 10-K, any of which could cause actual results to be materially different from our expectations.