Noble to Develop Nine WoodSpring Suites Hotels in Georgia and South Carolina

ROCKVILLE, Md. (November 10, 2022) – Choice Hotels International, Inc. (NYSE: CHH) signed an agreement with Noble Investment Group (Noble) to develop nine WoodSpring Suites hotels in Georgia and South Carolina over the next two years, signaling increased institutional interest in the largest economy extended-stay brand in the market.

"When we acquired WoodSpring Suites four years ago, few other hotel brands were competing in the extended stay segment in a meaningful way. Choice Hotels not only breathed new life into this category--innovating new ways to deliver exceptional value to extended stay developers and longer-term guests--but successfully demonstrated our ability to take the industry’s largest economy extended stay brand to even greater heights,” said David Pepper, chief development officer, Choice Hotels. “Our continued work with institutional investors like Noble is a key component of this success. We look forward to bringing our best-in-class extended stay offerings to more and more markets nationwide, so travelers everywhere can make the most of their time on the road, whether they stay for a week, a month, or longer."

WoodSpring Suites hotels are purpose-built for the unique needs of extended stay travelers, offering suites with in-room kitchens and full-size refrigerators in addition to amenities like guest laundry rooms, vending facilities, and complimentary Wi-Fi. Signature locations may also feature additional amenities, such as fitness centers and lobby coffee service.

Noble is an industry-leading real estate investment manager specializing in select-service and extended-stay travel and hospitality with over $5 billion in assets.

"Noble continues to add substantial scale to our extended-stay travel and hospitality platform,” said Ben Brunt, Noble’s chief investment officer. “WoodSpring Suites has an outstanding track record of high performance across economic cycles, and we are pleased to welcome these new investments into our portfolio.”

Choice Hotels has franchised in the extended-stay segment since its infancy, currently featuring WoodSpring Suites and the newly refreshed Suburban Studios brands in economy extended stay as well as MainStay Suites and Everhome Suites in midscale extended stay. A leader in the segment, Choice has enhanced the extended-stay operating model to help maximize developers' return on investment and offers best-in-class design, industry-leading tailored support, and dedicated sales training. 

To learn more about WoodSpring Suites, visit www.choicehotelsdevelopment.com/woodspring.

About Noble Investment Group

Noble is a real estate investment manager specializing in the travel and hospitality sector. With a track record spanning three decades, Noble has invested more than $5.0 billion in communities throughout the country, adding value across cycles and creating thousands of jobs. As a signatory to the UNPRI, the CEO Action for Diversity & Inclusion, and a fiduciary to foremost pensions plans, endowments, and foundations, Noble's endeavors help to preserve and grow its limited partners' capital, which assists in providing retirement benefits for our country's teachers, law enforcement, firefighters, other pensioners, and financial resources for students to attend college.

About WoodSpring Suites

WoodSpring Suites hotels offer extended stay guests a welcoming environment and straightforward stay—all affordably priced. Franchised by Choice Hotels, WoodSpring Suites is the nation's fastest-growing economy extended stay hotel brand. Each property is newly constructed and built to anticipate the needs of travelers looking for a longer-term stay. Properties feature all-suite rooms with fully equipped kitchens, flexible workspaces, and guest laundry facilities. There are 300 WoodSpring Suites hotels open in over 38 states and more than 200 in the pipeline across the U.S. as of June 30, 2022. For more information, visit www.woodspring.com/ourbrand. 

About Choice Hotels®

Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. Choice recently acquired Radisson Hotels Americas, adding nine brands, more than 600 hotels, and approximately 67,000 rooms in the United States, Latin America, the Caribbean, and Canada to its portfolio. With 22 brands, Choice Hotels has more than 7,500 hotels and nearly 650,000 rooms, in 46 countries and territories as of August 11, 2022. The Choice® family of hotel brands provides business and leisure travelers with a broad range of high-quality lodging options from limited service to full-service hotels in the upper upscale, upper mid-scale, midscale, extended-stay, and economy segments. The award-winning Choice Privileges® loyalty program offers members a faster way to rewards, with personalized benefits starting on day one. For more information, visit www.choicehotels.com.