Choice Hotels International, one of the world’s largest hotel companies, today announced that it has entered into a joint venture with private investment firm Fillmore Capital Partners, LLC and its affiliates to develop multiple Cambria Suites hotel properties, adding to the upscale brand’s growing clout. This marks the brand’s first institutional investor, underscoring the confidence developers and Choice Hotels have already expressed for the emerging brand’s performance potential.
Designed as a lifestyle hotel brand, Cambria Suites offers more than just a place to sleep at night. It features a larger lobby to give guests a more social atmosphere, spacious all-suite rooms that include separate areas to work and rest, providing business and leisure travelers room to relax, socialise and network.
All Cambria Suites hotels are currently located in the US and are new-construction and the brand leads the rest of the upscale lodging segment in guest satisfaction scores as measured by guests’ likelihood to recommend (LTR). Currently, many Cambria Suites hotels are ranked #1 and #2 in their respective markets on TripAdvisor.
The brand is making its mark for delivering a consistently high level of style at an equally attractive price guests have come to count on.
“This is further proof to the investment and development communities that we are truly making great strides with Cambria Suites,” said Stephen P. Joyce, president and chief executive officer of Choice Hotels International. “Institutional investors bring instant influence to the table and Fillmore Capital is as good as it gets. Their team has the relationships with investors and access to capital coupled with a deep understanding of the hospitality industry.”
The venture with Fillmore provides for the future development of multiple Cambria Suites hotels at locations within urban markets. This strategic partnership aligns perfectly with Choice Hotels’ plan to establish Cambria Suites as a major brand in such key markets. Earlier this year the company announced that it was working with property developers Concord Hospitality, We Care Trading Co., Ltd, and Meyer Jabara Hotels to build three new Cambria Suites hotels in New York, to be located in Times Square and Chelsea in Manhattan, and downtown White Plains in nearby Westchester County.
“We have long admired the Cambria Suites brand’s strong product design and appropriateness for today’s lifestyle-oriented traveler,” said Ronald E. Silva, president and chief executive officer of Fillmore Capital Partners. “The current hospitality environment presents a unique opportunity to partner with Choice Hotels and expand this emerging brand through development in major markets. Further, our affiliate, Fillmore Hospitality, will manage the Cambria Suites hotels that we develop. Fillmore Hospitality has extensive experience in establishing and supporting new and emerging brands along with independent hotels and resorts, which will provide a natural management fit for our properties.”