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Choice Hotels International : Cambria Hotels Breaks Ground in Mount Pleasant, S.C.

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08/21/2017 | 02:56pm CEST

ROCKVILLE, Md., Aug. 21, 2017 /PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest hotel companies, along with developers SpringBridge Development, LLC and Landmark Enterprises announced today the groundbreaking of the Cambria Hotel Mount Pleasant. Located at 1472 Highway 17 North, the 112-room property is set to open in 2018.

The Cambria Hotel Mount Pleasant is conveniently located just minutes from the beautiful beaches of Sullivan's Island and the historical sites of Downtown Charleston. Its coastal scenery and cultural resources make it an ideal location for travelers to the area, in addition to a growing business community. There is also a lively mix of restaurants, bars, shops and outdoor activities surrounding the hotel.

"We're thrilled to bring our first Cambria property to Charleston. The Charleston area is growing rapidly, making it a perfect match for a new upscale lodging option in order to meet the increased demand," said Janis Cannon, senior vice president, upscale brands at Choice Hotels. "We're excited to team up with SpringBridge Development and Landmark Enterprises to build the Cambria Hotel Mount Pleasant, and look forward to exceeding the needs of the modern traveler by providing an experience that will allow guests to treat themselves on the road."

The Cambria Hotel Mount Pleasant will include ample meeting space, a business center, lobby lounge and state-of-the-art fitness center. The property will also feature contemporary onsite dining, serving a menu comprised of local specialties, liquor, wine, and local craft beers, as well as freshly prepared grab-and-go gourmet salads and sandwiches, and a barista bar.

With a focus on hospitality and commercial development, SpringBridge Development, LLC currently has multiple projects under development across the state of South Carolina.

"We are honored to be opening another property in such a prominent market and we are even more excited to continue to expand our portfolio with Choice by opening such a unique and top notch brand," said SpringBridge Development partner Grey Raines.

Landmark Enterprises, Inc. was founded in 1974 and is headquartered in Mount Pleasant. As a full-service commercial real estate development company, it focuses on the areas of real estate development, property management and brokerage.

"We are bullish on the Mount Pleasant market, and believe that the Cambria brand is a perfect fit for the needs of this community," said Landmark Enterprises' President Jason Ward. "Landmark Enterprises is privileged to have the opportunity to co-own and develop another hotel project with SpringBridge Development and broaden our portfolio in our own home town."

Cambria Hotels are designed to provide a unique and distinctive experience with the services and amenities that travelers demand, including casually tailored décor, flexible spaces for meeting or socializing, rooms that are comfortable and composed, and of course, free Wi-Fi, allowing guests to stay fully connected while they travel. The spa-like bathrooms offer contemporary fixtures, refined surfaces and abundant light.

About Cambria Hotels
Cambria Hotels are designed for the modern traveler, offering guests a distinct experience with simple, guilt-free indulgences allowing them to treat themselves while on the road. Properties feature compelling design inspired by the location, spacious and comfortable rooms, flexible meeting space, and local freshly prepared food and craft beer. Cambria Hotels is rapidly expanding in major U.S. cities, with hotels open in Chicago, New York City, Pittsburgh, Washington, D.C., and Los Angeles. There are now 31 Cambria properties open across the United States, and there are nearly 100 hotels open or in the pipeline in the U.S. and Canada. To learn more, visit www.cambriahotelsandsuites.com.

About Choice Hotels
Choice Hotels International, Inc. (NYSE: CHH) is one of the world's largest hotel companies. With approximately 6,500 hotels franchised in more than 40 countries and territories, Choice Hotels International represents more than 500,000 rooms around the globe. As of June 30, 2017, 792 hotels were in our development pipeline. Our company's Ascend Hotel Collection®, Cambria® Hotels, Comfort Inn®, Comfort Suites®, Sleep Inn®, Quality®, Clarion®, MainStay Suites®, Suburban Extended Stay Hotel®, Econo Lodge®, Rodeway Inn®, and Vacation Rentals by Choice Hotels(®) brands provide a spectrum of lodging choices to meet guests' needs. With more than 32 million members, our Choice Privileges® rewards program enhances every trip a guest takes, with benefits ranging from instant, every day rewards to exceptional experiences, starting right when they join. All hotels and vacation rentals are independently owned and operated. Visit us at www.choicehotels.com for more information.

About SpringBridge Development, LLC: (co-developer) SpringBridge Development, LLC is led by Grey Raines, Chris Scott and Jay Ham. With a focus on hospitality and commercial development, SpringBridge currently has multiple projects under development across the state of South Carolina. These projects are in various stages of development from under construction to land acquisition and brand positioning. The projects are select service and extended stay properties in established and emerging markets, as well as tenants and multi-tenant commercial properties. www.springbridgedevelopment.com.

About Landmark Enterprises, Inc. (co-developer): Landmark Enterprises, Inc. was founded in 1974 by Eugene W. Blanton and is led by Jason M. Ward; is headquartered in Mount Pleasant, South Carolina. It is one of the most trusted and proven full-service commercial real estate development companies in the Southeast. Its professional staff has deep technical knowledge and skills in the areas of real estate development, property management, and brokerage. Known throughout the local market for successfully guiding our clients through all manner of real estate challenges, Landmark has been a recognized leader in South Carolina's real estate development industry for over 40 years. Landmark Enterprises has developed and owned over 75 large-scale commercial development projects, including office, hospitality, industrial, and historic rehabilitation projects. With six active projects currently under development, we continue that tradition of excellence today. www.landmark-enterprises.com

About Raines Hospitality, Inc. (hotel management/operator): Raines Hospitality, Inc. is committed to developing, building and operating first class hotels and hospitality organizations to satisfy our patrons and to maximize the investments of our partners. A family led business with over 100 years of experience; Raines specializes in managing successful hotels across all major hotel brands. They work in full partnership with the owners, investors, and associates to create the best possible experience for guests. The Raines leadership team has a deep and diverse level of experience in the hospitality industry. http://raineshospitality.com

© 2017 Choice Hotels International, Inc. All Rights Reserved.

View original content with multimedia:http://www.prnewswire.com/news-releases/cambria-hotels-breaks-ground-in-mount-pleasant-sc-300506646.html

SOURCE Choice Hotels International, Inc.

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Financials ($)
Sales 2017 980 M
EBIT 2017 281 M
Net income 2017 161 M
Debt 2017 647 M
Yield 2017 1,43%
P/E ratio 2017 21,17
P/E ratio 2018 19,10
EV / Sales 2017 4,14x
EV / Sales 2018 3,92x
Capitalization 3 412 M
Duration : Period :
Choice Hotels Internationa Technical Analysis Chart | CHH | US1699051066 | 4-Traders
Technical analysis trends CHOICE HOTELS INTERNATIONA
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 12
Average target price 65,8 $
Spread / Average Target 8,9%
EPS Revisions
Stephen P. Joyce Chief Executive Officer & Director
Patrick S. Pacious President, Chief Operating Officer & Executive VP
Stewart W. Bainum Chairman
Dominic E. Dragisich Chief Financial Officer
Todd Davis Chief Information Officer
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