by Mia Taylor
Last updated: 5:17 PM ET, Thu May 31, 2018
WoodSpring Suites is growing at a record pace, signing 33 new franchise agreements during just the first quarter of the year.
The more than 30 signings represent the highest quarterly activity in the history of the brand, which joined the Choice Hotels family in February.
"Developers have embraced the WoodSpring Suites brand. The acquisition by Choice Hotels and all of the resources that they bring to the table furthers interest in the brand, and resulted in our record-setting first quarter, including 19 franchise agreements with the brand's largest developer," Ron Burgett, vice president, WoodSpring Suites development, Choice Hotels, said in a statement. "The extended-stay segment is on fire, and the WoodSpring Suites brand continues to be a leader in the category."
The WoodSpring Suites brand outpaced the extended-stay segment with a RevPAR increase of 13.5 percent compared to the same period of the prior year.
For 2018 alone, a total of 17 hotel openings and more than 50 groundbreakings are planned, including the brand's first-ever property in Oregon.
Four WoodSpring Suites hotels opened in the first quarter, among them WoodSpring Suites Chicago-Tinley Park; WoodSpring Suites Detroit-Rochester Hills; WoodSpring Suites Providence and WoodSpring Suites Seattle-Redmond.
The brand expects to surpass 250 open hotels by the end of this year.
"There have been many significant accomplishments for the WoodSpring Suites brand in the first 90 days since welcoming the brand to the Choice family," Ralph Thiergart, vice president and general manager, extended-stay brands, Choice Hotels, said in a statement. "WoodSpring Suites owners have expressed excitement for being a part of Choice to help them grow, which includes our world-class franchise-development team, distribution channels, and technology platform."
WoodSpring Suites isn't the only brand in the Choice Hotels portfolio that's experiencing notable expansion. MainStay Suites and Suburban Extended Stay hotel brands also experienced record growth in the first quarter of 2018, the company said.
Choice awarded 13 franchise agreements combined for the MainStay Suites and Suburban brands.
Additionally, the MainStay Suites brand experienced an 11.4 percent increase in RevPAR as compared to the same period of the prior year.
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