Choice Hotels Expands Cambria Brand, Opens Hotel in Florida

In a bid to expand footprint across Florida, Choice Hotels International, Inc. CHH recently announced the opening of the Cambria Hotel St. Petersburg – Madeira Beach Marina. Notably, this marks the third location for the Cambria Hotels brand after Cambria Hotel Ft. Lauderdale Airport South & Cruise Port and the Cambria Hotel Miami Airport – Blue Lagoon.

The five-story, 125-room upscale hotel provides guests access to amenities such as fitness centers, rooftop infinity pool and multi-function indoor-outdoor meeting spaces. It also provides convenient access to several scenic beaches as well as office headquarters like Home Shopping Network, Spectrum, Johns Hopkins All Children's Hospital and the University of South Florida.

Janis Cannon, senior vice president, upscale brands, Choice Hotels stated, "As the state reopens, the Cambria Hotel in Madeira Beach is ready to welcome guests when they are ready to travel, with its airy Gulf Coast views, central location and tranquil design that pays homage to the area's boating culture and iconic white sand beaches."

Continuous Expansion Bodes Well

Choice Hotels relies heavily on expansion in domestic and international markets. Despite the coronavirus pandemic, the company awarded nearly 60 new agreements in first-quarter 2020. Notably, the company opened Cambria Hotel Bloomington Mall of America on Jan 27, marking the first property opening in 2020. This was followed by the opening of Cambria Hotel Anaheim Resort Area on Feb 2.

Alongside domestic growth, the company continues to expand its international footprint. The key international operating markets include Spain, Colombia, Panama, the Caribbean and Canada.

Also, the Cambria Hotels brand has been a major growth driver for the company. With over 130 Cambria properties in pipeline and hotels opened in Chicago, Los Angeles, New York, Pittsburgh and Washington, DC, the company expects to ramp up expansion across major U.S. cities.

So far this year, shares of Choice Hotels have declined 15% compared with the industry’s fall of 23.8%.

Zacks Rank & Key Picks

Choice Hotels currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Few better-ranked stocks in the Zacks Consumer Discretionary sector are K12 Inc LRN, Duluth Holdings Inc. DLTH and China Lodging Group, Limited HTHT. K12 and Duluth Holdings sport a Zacks Rank #1, while China Lodging Group carries a Zacks Rank #2 (Buy).

K12’s 2021 earnings are expected to surge 52.8%.

Duluth Holdings has a trailing four-quarter positive earnings surprise of 19.3%, on average. The company’s earnings beat estimates in two of the last four quarters.

China Lodging Group has three-five year expected earnings per share growth rate of 24.2%.

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