For the first nine months of 2023, Choice’s extended stay hotel openings grew by 38% compared to the same period in 2022.
Extended stay pipeline
Choice’s extended stay domestic pipeline increased 12% year over year to over 47,000 rooms in tQ3 2023.
The new California properties under construction are the 120-key Everhome Suites Temecula, the 113-room Everhome Suites Ontario and the 114-key Everhome Suites San Bernardino. Choice believes there’s currently double the demand compared to the supply of extended stay hotels, and some of the largest areas in demand are in Los Angeles and San Bernardino.
Paladin Equity Capital established the inaugural Everhome Suites in Corona, California in 2022, and is expanding with these three additional Everhome Suites and six additional projects in various stages of development.
The hotels under construction are slated to open in the second half of 2024 and early 2025. Each will feature spacious apartment-style rooms with well-defined areas that separate working from relaxing, as well as innovative, built-in ways for guests to customise the space.
Amenities include fully equipped kitchens; spa-style bathrooms; contemporary multipurpose lobby and outdoor amenity areas; 24/7 self-serve Homebase Market with food, beverages and groceries; 24/7 fitness centre with state-of-the-art cardio and strength-training equipment; and 24/7 guest laundry facilities.
Overcoming construction challenges
Ron Burgett, senior vice president, franchise development, extended stay at Choice Hotels, said: “With three new properties under construction in key California growth markets and six more Everhome Suites under development, Choice is continuing its leadership and growth in the extended stay segment.
“Despite challenges in new construction projects, our successful track record and strategic development approach, in collaboration with outstanding developers like Paladin Equity Capital, enable us to efficiently bring projects to fruition.”
Philip Powers, partner at Paladin Equity Capital, added: “Choice Hotels has been an exceptionally supportive partner as we continue to build the Everhome Suites brand.
“Our first Everhome Suites has been open for a year and really hit its stride. We have been in close collaboration with the Choice Extended Stay Brand and Marketing teams, working to effectively drive brand awareness and book long staying guests. Their highly sophisticated approach has been a huge asset and we’re confident the next three openings in 2024 will be very successful.”