ROCKVILLE, Md., May 22, 2019 /PRNewswire/ -- Cambria Hotels
will be expanding to Vermont,
following Choice Hotels International, Inc.'s (NYSE: CHH) agreement
with Hospitality Funding Inc. and TQP Capital Partners to develop a
142-room hotel, slated to open in 2021.
Located at 266 College St., the new Cambria hotel in Burlington will preserve the historic façade
of the existing structure, which was built in 1934 and formerly
housed the Greater Burlington YMCA. Located on one of Burlington's busiest thoroughfares, the hotel
is a few blocks from the University of
Vermont (UVM) and the UVM Medical Center—the state's largest
university and medical center, respectively—as well as Champlain College and The Church Street
Marketplace, an outdoor, pedestrian-friendly shopping district.
"The Cambria Hotels brand excels at delivering a best-in-class
experience, and developers notice its enduring success," said
Mark Shalala, vice president,
franchise development, upscale brands, Choice Hotels. "We are
thrilled to bring the first Cambria to the Green Mountain State.
Burlington, a vibrant college town
with a rich history, is the perfect place to start."
Cambria Hotels is designed for today's time-starved travelers
looking for moments to connect to people and places through modern
conveniences. The Cambria hotel in
Burlington will feature the
following amenities:
- A rooftop bar and restaurant with sunset views of Lake
Champlain—ideal for a nightcap or formal event
- Multi-function meeting space, equipped with versatile
technology and reliable essentials
- Immersive, spa-style bathrooms with Bluetooth mirrors
- Contemporary and sophisticated guestrooms, complete with modern
fixtures, abundant lighting, and plush bedding
- Onsite dining featuring freshly made food, local craft beer on
tap, wine, specialty cocktails, and small bites
- State-of-the-art fitness center
- Locally inspired design
"Choice Hotels' experience in cultivating developer
relationships and the resources they provide helped lay the
groundwork for our agreement," said Scott
Silver, chairman and CEO, Hospitality Funding. "My roots in
Vermont and Burlington, as well as collaboration with the
Greater Burlington YMCA, give me great insight into the sense of
community here. The unique blend of a bustling metropolis and the
coziness of a tucked-away town sealed the deal for the development
of this Cambria Hotel."
"Our Cambria will have the first and only rooftop restaurant in
Burlington," said Thomas Prins, Principal of TQP Capital. "The
views and vibe of the rooftop will be amazing."
The Burlington Cambria will be operated by Hostmark Hospitality,
a hotel management firm based in Schaumburg, Ill., which has been managing
hotels and resorts for 54 years.
For more information on Cambria Hotels development
opportunities, visit
www.choicehotelsdevelopment.com/cambriahotels/.
About Cambria Hotels
The Cambria® Hotels brand is designed
for the modern traveler, offering guests a distinct experience with
simple, guilt-free indulgences allowing them to treat themselves
while on the road. Properties feature compelling design inspired by
the location, spacious and comfortable rooms, flexible meeting
space, and local freshly prepared food and craft beer. Cambria
Hotels is rapidly expanding in major U.S. cities, with hotels open
in Chicago, New York
City, Pittsburgh, Washington, D.C., and Los Angeles.
There are more than 40 Cambria properties open across the
United States, and over 100 hotels
open or in the pipeline in the U.S. and Canada. To learn more,
visit www.choicehotels.com/cambria.
About Choice Hotels
Choice Hotels International,
Inc. (NYSE: CHH) is one of the largest and most successful lodging
franchisors in the world. With more than 7,000 hotels, representing
nearly 570,000 rooms, in over 40 countries and territories as of
March 31, 2019, the Choice® family of
hotel brands provide business and leisure travelers with a range of
high-quality lodging options from limited service to full-service
hotels in the upscale, midscale, extended-stay and economy
segments. The award-winning Choice Privileges® loyalty program
offers members benefits ranging from everyday rewards to
exceptional experiences. For more information, visit
www.choicehotels.com.
About Hospitality Funding
Hospitality Funding, Inc. is
a boutique investment advisory and development firm focused on
raising equity, mezzanine, and debt financing for the acquisition
of all types of hospitality assets. Hospitality Funding works with
superior sponsors to find capital solutions that fit their specific
goals for property acquisitions.
About TQP Capital Partners
TQP Capital Partners
("TQP") was founded by Thomas Prins
to develop and acquire hotels. Thomas raised a GP fund with the
intent of acquiring and developing hotels and resorts, leveraging
its powerful origination, execution and management capabilities.
Thomas is also a partner in Schaumburg based Hostmark Hospitality one of
the oldest and most recognized management companies in the United States. TQP grew up in the
high-end, independent, luxury market and cut its teeth on
acquiring, financing, developing and operating complex hotels &
resorts. The company applies those principals to all different
types of hotels with great success.
About Hostmark Hospitality Group
As a preferred,
award-winning hotel management company for Marriott, Hilton, IHG
and Choice Hotels, Hostmark Hospitality Group consistently delivers
superior results to institutional real estate owners,
non-institutional ownership groups, publicly traded companies,
joint ventures and privately held companies by providing hotel
management, asset management, project management and lender
consulting services. Hostmark Hospitality Group also offers
specialized programs for CMBS special servicers and balance sheet
lenders managing under-performing hotel loans. Through a focus on
the Art of Service, Hostmark's Artists continually strive to
provide memorable moments for guests and to enhance performance to
deliver superior results. With over 50 years of experience
managing hotels, resorts, conference centers, boutique concept
hotels, condominium hotels and restaurants, the company has a
proven longstanding reputation for delivering superior results
through forward focused ingenuity and exceptional asset management.
Visit www.hostmark.com for more information.
Forward-Looking Statement
This communication
includes "forward-looking statements" about future events,
including anticipated development and hotel openings. Such
statements are subject to numerous risks and uncertainties,
including construction delays, availability and cost of financing
and the other "Risk Factors" described in our Annual Report on Form
10-K, any of which could cause actual results to be materially
different from our expectations.
Addendum
This is not an offering. No offer or sale of
a franchise will be made except by a Franchise Disclosure Document
first filed and registered with applicable state authorities. A
copy of the Franchise Disclosure Document can be obtained through
contacting Choice Hotels International at 1 Choice Hotels Circle,
Suite 400, Rockville,
MD 20850, development@choicehotels.com.
© 2019 Choice Hotels International, Inc. All rights
reserved.
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SOURCE Choice Hotels International, Inc.