On 29 July 2022, Choice Hotels International signed an agreement with Colorado-based real estate investment firm ServiceStar Capital Management—one of the largest extended stay developers in the nation—to develop 21 Everhome Suites hotels across the United States.
This transaction represents Choice's largest investment in the brand, highlighting a significant nationwide expansion with future Everhome Suites planned in Colorado, Arizona, Utah, Nevada and Florida over the upcoming years to strengthen its extended stay growth strategy.
"Everhome Suites combines Choice Hotels' decades of midscale hospitality expertise with our proven extended stay operating model, and this commitment from ServiceStar—one of the most experienced extended stay investors—affirms the opportunity that savvy developers see in this segment," said Patrick Pacious, president and chief executive officer, Choice Hotels. "It's no secret that the extended stay segment has offered incredible resiliency and high returns in any environment."
Everhome is on the cusp of significant growth, with the first property on track to open this month and over 30 others under development. The key to the brand's continued success is Choice's ongoing collaboration with growth-minded investors and developers such as ServiceStar, whose commitment fuels a shared goal of delivering new hotels in the right markets that meet the needs of longer-staying guests.
Choice's newest brand, Everhome Suites, is a construction, midscale extended stay offering purpose-built accommodations for guests to live and work in during longer-term stays.
In addition to investing in Everhome Suites, ServiceStar Capital Management and their Development Partners are also developing over 50 WoodSpring Suites hotels across the country.
