Choice Drops in Price on Announcing Idaho Development

Choice Hotels International, Inc. (NYSE: CHH) announced the groundbreaking of the Everhome Suites in Nampa, Idaho. The construction milestone comes on the heels of another successful quarter of sustained segment growth for Choice Hotels, whose Everhome brand – which launched in 2020 as the industry's first new construction midscale extended stay offering in nearly a decade – now boasts more than 50 hotels in the pipeline.

CEO Justin Roberts said, "As a longtime hospitality leader, no one understands how to curate products that truly stand the test of time – against evolving consumer trends and fluctuating market conditions – quite like Choice Hotels.

"With our partner Westmount Park Investments, we are excited to be a part of a brand that perfectly marries Choice's decades of midscale leadership with a proven extended stay operating model. Our organization is very focused on the extended stay segment, and with Everhome Suites, Choice has created a brand with strong returns and bottom-line performance that make it incredibly attractive. We cannot think of a more fitting brand to add to our growing portfolio or a better collaborator than Choice to help bring our first of many midscale extended stay hotels to life."

Expected to open in late 2023, the four-story, 122-room Everhome Suites is ideally situated in the growing Boise suburb of Nampa – Idaho's third largest city – at 16165 N. Idaho Center Blvd. In addition to providing longer-staying guests with easy access to downtown Boise, the new Everhome Suites is conveniently located near several top employers across the healthcare, technology and leisure sectors, including Saint Alphonsus Medical Center, Saint Luke's Medical Center, Plexus, and the Ford Idaho Center.

CHH shares sank $2.38, or 2%, to $119.52.