WoodSpring Suites, an extended stay brand franchised by Choice Hotels International, Inc. (NYSE: CHH), reached a significant milestone with the opening of its 300th hotel. The achievement was marked yesterday with the grand opening of the WoodSpring Suites Gurnee-Chicago North in Illinois, as well as a ribbon-cutting ceremony with Gurnee Mayor Thomas B. Hood and executives from Choice Hotels, developer Holladay Properties and management company J&P Asset Management.
This latest opening milestone for Choice Hotels’ extended stay portfolio further exemplifies the resilience and expansion of the company’s extended stay model in the economy and midscale space. As of June 30, 2021, the WoodSpring Suites, MainStay Suites and Suburban Extended Stay brands each have 453, 217, and 86 hotels open or in the pipeline, respectively. Everhome Suites, the company’s newest brand launched in 2020, now has 18 hotels in the pipeline and has already awarded 10 franchise agreements this year.
“Our vision when we acquired the WoodSpring Suites brand in 2018 was to strengthen our scale within the fast-growing extended stay segment and set up a runway for future growth – ultimately creating value for our franchisees, guests and investors,” said Patrick Pacious, president and CEO, Choice Hotels. “Reflecting on the brand’s growth at this 300th milestone, and hearing directly from owners such as Tim Healy on why they continue to invest in the brand, reinforces that our strategic investments in the segment and our dedicated resources and support to owners are paying off.”
Located at 5742 Northridge Drive in Gurnee, Illinois, the WoodSpring Suites Gurnee-Chicago North is near Six Flags Great America, Great Wolf Lodge Water Park, Naval Station Great Lakes (NSGL), Dynapar Corporation, Lambent Technologies, and Northshore Medical Group. The property is also close to many shopping and dining options at Gurnee Mills Mall, as well as Bittersweet Golf Club.
“When the WoodSpring Suites brand was created, the overall awareness and the growth potential around the extended stay segment was very much in its infancy. Today, sentiment around the segment and the WoodSpring brand specifically have continued to increase, especially following the resiliency demonstrated during the COVID-19 pandemic,” said Anna Scozzafava, vice president and general manager, extended stay, Choice Hotels. “Eclipsing 300 WoodSpring hotels is an incredible accomplishment and further validates Choice Hotels’ strategic commitment to the segment. The brands’ success proves there is great demand for simple, high quality and clean accommodations for guests looking to stay a week, a month or longer.”
“The acquisition of WoodSpring Suites nearly four years ago has proven to be an ideal strategy for Choice Hotels — as evidenced by the brand’s rapid growth and industry-leading performance, even during this unprecedented environment where it achieved impressive RevPAR growth,” said Ron Burgett, senior vice president, franchise development, extended stay, Choice Hotels. “Sophisticated developers have always seen the value of the segment and the return-on-investment potential, thanks to the extended stay operating model. However, Choice’s focus on the segment, including tailored support, sales training and market and site selection, has taken the brand to the next level. Further, Choice has leveraged key learnings from the WoodSpring brand and continued to apply those across all extended stay brands in our portfolio, including MainStay Suites, Suburban Extended Stay, and the newly launched Everhome Suites.”
The WoodSpring Suites Gurnee-Chicago North is purpose-built for the unique needs of extended stay travelers and offers the following features:
– Three suite layouts—all of which are 100-percent smoke free, pet friendly and equipped with an in-room kitchen featuring a full-size refrigerator, microwave and stovetop.
– Expanded lobby with a coffee station.
– Free Wi-Fi and guest parking.
– 24-hour fitness center.
– Guest laundry room.
“We love our WoodSpring portfolio. They stabilize in less than 60 days, which is reflective of the underserved demand for clean, safe, and affordable lodging in our market. Moreover, this lodging segment proved to be very resilient during COVID-19. We suspected they would fare well during a recession, but never dreamed the resilience would carry through the pandemic. We are proud to open the 300th location and be part of the amazing growth of Choice Hotels,” said Tim Healy, president and chief executive officer, Holladay Properties.
The Gurnee location is Holladay Properties’ tenth WoodSpring Suites to open, joining locations across the Chicago Metropolitan Area in Elgin, Burbank, Addison, Romeoville, Darien, Tinley Park, Carol Stream, and Merrillville, Indiana, as well as in Indianapolis. The company also has two other locations under development. The WoodSpring Suites Gurnee-Chicago North is managed by J&P Asset Management.