Choice Hotels Eyes an Unfamiliar and New Upscale Market
Photo Credit: A rendering of guest room at the Cambria hotels & suites Chicago - Magnificent Mile. Choice Hotels CEO Stephen P. Joyce said he would like to add an upper upscale brand to Choice's portfolio that complements Cambria. Choice Hotels International / Choice Hotels International
Skift Take
Choice Hotels CEO Stephen P. Joyce knows that future success for his company depends on smart acquisitions and investments in technology, loyalty, and the sharing economy.
Choice Hotels International, a hotel company known for its portfolio of brands that primarily occupy the economy and midscale space, is looking to expand into the full-service space beyond its soft-brand collection, Ascend, and boutique-inspired Cambria hotels & suites brand.
That's what CEO Stephen P. Joyce said to investors during a third-quarter earnings call when asked about possible future acquisitions.
"… You know I've made no secret to the fact that I think, an appropriate upper upscale brand that is relevant for the future is something that we should be looking at, and [we are] looking for opportunities, probably more of a purchase option if something becomes available than a development option because I'm not as young as I used to be," Joyce said.
What kind of upper upscale brand would this be, and where would it come from? Joyce dropped some hints:
He said, "We've talked a lot about Europe, and we've looked at several things there. Haven't landed anything y
