Skift Take
Choice Hotels is adapting its business strategy because it believes the future of travel involves longer stays, Boomers prefering premium brands, and more trips built around sports and music events.
Choice Hotels International is doubling down on higher-end and extended-stay hotels as it pursues growth beyond its traditional roadside motel roots.
On Monday, the company's executives outlined to analysts an expansion strategy centered on urban markets and longer-term stays. They want to shift their hotel portfolio mix to more "revenue-intense" properties — and they used the phrase "revenue intense" five times.
"99% of rooms in our global pipeline are in our more revenue-intense brands, which means that the pipeline represents a meaningful revenue per available room premium compared to our existing portfolio," said president and CEO Patrick Pacious.
Executives aimed to de-emphasize the Rockville, Maryland company's reputation as being about roadside motels and mid-tier properties. They are seeking to capture more higher-spending tra