MEDIA RELEASE PR37802
Choice Hotels International Announces Agreement to Transition Choice Hospitality
India to Wholly-Owned Subsidiary
SILVER SPRING, Md., Jan. 13 /PRNewswire-AsiaNet/ --
Leading Global Lodging Franchisor Focuses on Need for Mid-Market Lodging In
Growing Indian Hotel Market
Choice Hotels International, Inc. (NYSE: CHH) today announced that it has agreed
to acquire the remaining 60 percent ownership interest in Choice Hospitality (India)
Ltd. Choice Hospitality India serves as the master partner and franchisor of Choice's
hotel brands in India, and after the completion of the transaction, the entity will
be operated as a wholly-owned subsidiary. The announcement coincides with the
company's sponsorship of the Hotel Investment Forum India Conference, taking place
this week in Mumbai, at which Stephen P. Joyce, the company's president and chief
executive officer, is participating on the Hotel Leaders Forum.
"We plan to focus extensive development resources on growing our presence in
India, which now stands at 28 hotels," said Joyce. "India is an extremely important
key market for our global growth and we're looking forward to the great development
potential that it holds for our brands and our hotels."
As a wholly-owned subsidiary, Choice Hospitality India's franchisees will now be
able to take advantage of the comprehensive menu of resources and focused executive-
level attention from Choice Hotels International. This support is designed to help
franchisees to grow their business, both among in-country and international
travelers. Among the added benefits to Choice Hospitality India as a wholly-owned
subsidiary are increased marketing initiatives, expanded programs, and additional
training services.
"I'm very excited about our long-term growth opportunities and the passionate
owners, operators, hotel staff and top-notch properties we have as part of our system
in India," said Mark Pearce, vice president, international operations for Choice
Hotels International. "We truly believe that this move will be tremendously
beneficial for all parties involved - Choice Hotels International, Choice Hospitality
India and its current and prospective franchisees."
"We are delighted about this transition, as this recent change for Choice
Hospitality India speaks to the strong confidence Choice Hotels International has in
its ability to grow its brands' presence in India," said Vilas Pawar, chief executive
officer for Choice Hospitality India, who now reports directly to Mr. Pearce.
"Development remains steady for us, as we've recently expanded our presence with the
opening of the Quality Inn Pearl in Hyderabad and the Quality Inn in Tuticorin."
About Choice Hospitality (India) Ltd.
Choice Hospitality India is part of Choice Hotels International, one of the
largest and most widespread lodging franchisors of the world with over 6000 hotels
across the globe. Today Choice Hospitality India is one of the fastest and finest
growing hotel chains with 28 properties in over 21 destinations in India and another
14 properties under different stages of development. These hotels are in various
destinations including New Delhi, Mumbai, Chennai, Ahmedabad, Bangalore, Gurgaon,
Hyderabad, Jaipur, Kodaikanal, Lucknow, Faridabad, Amritsar, Shimla, Manali, Corbett,
Pune, Nashik, Haldwani, Chiplun, Tuticorin and Vijayawad. Its presence in all the
gateway cities proves that the chain is widely accepted by business as well as
leisure travelers who recognize and trust the brand.
About Choice Hotels
Choice Hotels International, Inc. franchises more than 6,000 hotels, representing
more than 485,000 rooms in the United States and more than 35 other countries and
territories. As of September 30, 2009, more than 700 hotels are under construction,
awaiting conversion or approved for development in the United States, representing
more than 59,000 rooms, and more than 100 hotels, representing approximately 9,400
rooms, are under construction, awaiting conversion or approved for development in
more than 20 other countries and territories. The company's Comfort Inn, Comfort
Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban
Extended Stay Hotel, Econo Lodge and Rodeway Inn brands serve guests worldwide. In
addition, via its Ascend Collection membership program, travelers in the United
States, Canada and the Caribbean have upscale lodging options at historic, boutique
and unique hotels.
Additional corporate information may be found on the Choice Hotels International,
Choice Hotels, Choice Hotels International, Comfort Inn, Comfort Suites, Quality,
Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel,
Econo Lodge, Rodeway Inn and Ascend Collection are proprietary trademarks and service
marks of Choice Hotels International.
(C) 2010 Choice Hotels International, Inc. All rights reserved.
SOURCE: Choice Hotels International, Inc.
CONTACT: Rocco Loverro of Choice Hotels International, Inc.,
+1-301-592-6719,
rocco_loverro@choicehotels.com
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