IHG's Extended-Stay Brands Grow Strong Pipelines in 2007 (Etats-Unis)
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IHG's Extended-Stay Brands Grow Strong Pipelines in 2007 (Etats-Unis)
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Category: North America & West Indies / Carribean islands
This is a press release selected by our editorial committee and published online for free on 2008-02-28
Staybridge Suites and Candlewood Suites produce over 24% of the Americas' room signings
Staybridge Suites and Candlewood Suites had a significant role in continuing IHG's (InterContinental Hotels Group) [Lon: IHG; NYSE: IHG (ADRs)] growth momentum in the Americas region during 2007 as the company expanded its pipeline to more than 141,000 rooms (1,330 hotels). During the year, the Americas region signed 75,279 rooms - with the two extended-stay brands contributing more than 24 percent to the region's total.
In 2007, Staybridge Suites signed 71 license agreements with over 7,800 rooms in the Americas region - growing the brand's pipeline in the region by 32 percent from 2006. During this same time period, Candlewood Suites signed 116 license agreements with more than 10,400 rooms - growing its Americas pipeline by 59 percent from 2006.
With these new license agreements and an already healthy pipeline, both extended-stay brands expect to double their current system size. Staybridge Suites has 122 hotels open in the Americas region with another 147 hotels in the region's pipeline. Candlewood Suites has 158 hotels open in the region and another 207 hotels in the pipeline.
"Staybridge Suites and Candlewood Suites both showed tremendous growth in 2007 by combining to open 53 hotels with 5,189 rooms, indicating owner confidence in the extended-stay sector and our brands," said Robert Radomski, vice president, Brand Management, Extended-Stay, IHG. "And our two extended-stay brands both had key signings and openings that reached into new geographies."
Staybridge Suites signed license agreements in Canada and Mexico as well as agreements for two hotels in the United Arab Emirates and four hotels in the United Kingdom - bringing its pipeline total in the U.K. to eight hotels. The brand is scheduled to open its first hotel outside the Americas region in the U.K. in 2008.
During the year, Staybridge Suites eclipsed some important milestones. The brand opened a record number of hotels in one year with 25 properties (2,515 rooms) - surpassing its previous high total of opening 21 hotels in 2003. One of the 25 hotels to open in 2007 was the brand's 100th property in Tallahassee, Fla., making Staybridge Suites the fastest brand to reach that milestone in the upscale extended-stay category. Staybridge Suites also opened hotels in Sacramento, Calif.; Albuquerque, N.M.; Mayfield Heights, Ohio; London, Ontario; Chattanooga, Tenn.; Dallas, Texas and Chesapeake, Va.
In 2007, Candlewood Suites opened its first hotel outside the U.S. in Montreal, Quebec, and continued to expand outside the U.S. by signing an additional license agreement in Canada as well as one in Mexico. The brand also opened hotels in Sierra Vista, Ariz.; Ft. Lauderdale, Fla.; Boise, Idaho; Kansas City, Kan.; Bowling Green, Ky.; North Charleston, S.C. and Fort Worth, Texas.
In addition, Candlewood Suites announced its first major change in the brand's 11-year history with a new prototype design. The new contemporary design creates a comfortable residential look and feel for the hotel with a new exterior design and paint scheme, an expanded lobby and environmentally-friendly amenities.
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