Choice Hotels had a strong year with lots of growth in 2019. The company is focused on bulking up its extended-stay portfolio to continue the trend in 2020 as corporate travelers look increasingly for more creative options.
Choice Hotels is showing a lot of patience with its Comfort brands, probably more than a $2.5 billion investment warrants. But early signs suggest it will work out.
Oyo's dynamic pricing strategy could turn out to be a bit of a double-edged sword in the U.S., where the company faces greater competition. On one hand occupancy is sure to go up for many of its hotel partners, but if a majority of rooms are booked last-minute at incredibly low prices, hotel managers can start enduring some losses.
Choice Hotels realized years ago that Comfort Inn's look was outdated. The company has to hope that spending billions on renovations and new marketing materials will make the brand successful again.
It used to be that hotel CEOs outright dismissed homesharing. But now that more hospitality companies are taking the plunge, the top brass is making the case for why the hotel giants can do it better.