Choice Hotels (CHH) Boost Presence in California With New Hotel

Choice Hotels International, Inc.CHH Cambria brand recently announced the addition of the Cambria Hotel Calabasas in California. This marks the brand’s fifth property in the region, joining the likes of Cambria Hotel Anaheim Resort Area, Cambria Hotel LAX, Cambria Hotel Sonoma Wine Country and Cambria Hotel Napa Valley.

Located at 26400 Rundale Street, the 125-room upscale hotel provides guests with access to amenities such as fitness centers, on-site dining, and indoor and outdoor multifunctional meeting spaces. The property is close to many recreational attractions such as Malibu Creek State Park, Pepperdine University, Ronald Reagan Presidential Library, Camarillo Premiere Outlet and Thousand Oaks Civic Arts Plaza. It also provides easy access to several businesses, including the Cheesecake Factory and Harbor Freight.

Referring to the opening, Janice Cannon, Senior Vice President, Upscale Brands, Choice Hotels, stated, “With all that California has to offer—from beaches, a first-class culinary scene, and world-class entertainment to the many Fortune 500 corporate headquarters—we are delighted to bring Our modern and upscale experience has moved to another location in the Golden State.”

The Cambria Hotels brand is a major growth driver for the company. During the third quarter of 2021, the company’s high-end portfolio recorded an impressive 22% year-over-year unit growth, primarily driven by Cambria and Ascend Hotel Collection. During the quarter, the Cambria brand continued its positive momentum with unit growth of over 9% year over year. The company says it has nearly 60 Cambria hotels open in cities such as Chicago, Los Angeles, New York, New Orleans, and Phoenix. The company anticipates increased expansion across major US cities. Furthermore, she stated that she has 70 hotels in Cambria in the pipeline. The company announced the addition of the Cambria Hotel Austin Airport in Austin, Texas, in 2022.

price performance

Zacks Investment ResearchImage source: Zacks Investment Research

So far this year, Choice Hotels shares are up 38.4% compared to industry growth of 7.2%. The company benefits from continuous expansion strategies through acquisition and franchise agreements. Its focus on a loyalty program also bodes well. Going forward, the company continues to focus on expansion strategies, strengthening the mid-size brand as well as transforming and advancing the Comfort brands to drive growth in the coming periods. Earnings estimates for 2022 have risen in the past 30 days, indicating analysts’ optimism about the stock’s growth potential.

Rank Zacks and Stocks for consideration

Choice Hotels currently has a Zacks rating of 3 (Hold). you can see The full list of Zacks #1 stocks (strong buy) today is here.

Some of the best-rated stocks in the consumer appreciation segment include Hilton Grand Vacations, Inc HGV, Blue Green Vacations Holding Company BVH and Camping World Holdings, Inc. CWH.

The Hilton Grand Vacations has Zacks ranked #1 (a strong buy). The company posted a surprise fourth-quarter profit of 411.1% on average. The company’s shares are up 54.1% this year so far.

A Zacks consensus estimate of Hilton Grand Vacations’ current fiscal year sales and earnings per share (EPS) indicates growth of 189.5% and 158.1%, respectively, from levels for the same period last year.

Bluegreen Vacations features Zacks’ rating of #1. The company posted a surprise fourth-quarter profit of 695% on average. The company’s shares are up 149.6% since the beginning of the year.

Zacks’ consensus estimate for Bluegreen Vacations’ current fiscal year sales and EPS indicate growth of 27.5% and 199.3%, respectively, from levels for the same period last year.

Camping World holds a Zacks rating of #2 (Buy). The company is capitalizing on the launch of a new peer-to-peer recreational vehicle rental and mobile services marketplace. It has been investing heavily in product development.

Camping World posted a surprise fourth-quarter profit of 70.9% on average. The company’s stock has risen in value by 47.2% so far this year. Zacks’ estimate of corresponding fiscal year CWH sales and EPS suggests growth of 25.9% and 80.1%, respectively, from levels for the same period last year.

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The opinions and opinions expressed here are those of the author and do not necessarily reflect the views and opinions of Nasdaq, Inc.

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