Yahoo Finance Choice Hotels (CHH) Expands in Connecticut With New Hotel
Choice Hotels International, Inc.’s CHH Cambria brand recently announced the addition of the Cambria Hotel New Haven University Area in Connecticut. This marks the brand’s first property in the region.
Located at 20 Dwight Street, the six-story (130-room) upscale hotel provides guests access to amenities like fitness centers, on-site dining and multi-function indoor-outdoor meeting spaces. It also offers convenient access to several shops, restaurants, entertainment venues and leisure attractions such as East Rock Park, Bradley Point and Hammonasset Beach State Park.
Concerning the opening, Janis Cannon, senior vice president, upscale brands, Choice Hotels, stated, "Our goal is to thoughtfully expand the Cambria footprint into markets that will deliver exceptional value to owners and guests, and the Cambria Hotel New Haven University Area represents the ideal addition to our growing East Coast portfolio."
Focus on Cambria Brand & Expansion
The Cambria Hotels brand is a major growth driver for the company. Cambria has significantly outperformed the upscale soft brands (and the segment on the whole) in terms of year-over-year RevPAR change. The brand has been well received on account of smart-conversion opportunities. During second-quarter 2022, the company broke ground for 21 Cambria projects. The company stated that it has almost 60 Cambria hotels open across cities such as Chicago, Los Angeles, New York, Washington, D.C. and Pittsburgh.
Backed by solid consumer confidence and the attractiveness of Choice Hotels’ value proposition, the company anticipates boosting the revenue intensity of its system by adding more properties. The company anticipates ramped-up expansion across New England with soon-to-open properties, including Cambria Hotel Portland Downtown Old Port and Cambria Hotel Manchester South Windsor. In 2022, the company expects to open 10 additional Cambria hotels.
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In the past year, shares of Choice Hotels have declined 16.5% compared with the industry’s fall of 17.4%.
Zacks Rank & Other Stocks to Consider
Choice Hotels currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some other top-ranked stocks in the Zacks Consumer Discretionary sector are Marriott Vacations Worldwide Corporation VAC, Hyatt Hotels Corporation H and InterContinental Hotels Group PLC IHG.
Marriott Vacations sports a Zacks Rank #1. VAC has a trailing four-quarter earnings surprise of 13.9%, on average. The stock has declined 22% in the past year.
The Zacks Consensus Estimate for VAC’s current financial year sales and earnings per share (EPS) indicates an increase of 19.7% and 131.4%, respectively, from the year-ago period’s reported levels.
Hyatt carries a Zacks Rank #2. H has a trailing four-quarter earnings surprise of 798.8%, on average. The stock has increased 1.6% in the past year.
The Zacks Consensus Estimate for H’s current financial year sales and EPS indicates growth of 89.1% and 113%, respectively, from the year-ago period’s reported levels.
InterContinental Hotels carries a Zacks Rank #2. IHG has a long-term earnings growth of 32.7%. The stock has declined 25.6% in the past year.
The Zacks Consensus Estimate for IHG’s current financial year sales and EPS indicates growth of 21.7% and 88.4%, respectively, from the year-ago period’s reported levels.
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Intercontinental Hotels Group (IHG) : Free Stock Analysis Report
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