America's Best Franchising Adds 13 in 1Q '09
APRIL 21, 2009 - The economy may be questionable, but there's no question that hoteliers are finding much to be optimistic about in the four brands operated by America's Franchising Incorporated as during the first quarter of 2009 the company sold 13 new franchises totaling 952 rooms and opened 10 new properties totaling 652 rooms.
"These numbers underscore the confidence that we as a company and that hoteliers as a group have in both the short-term and long-term strength of our industry," said Doug Collins, chairman and CEO of Atlanta-based America's Best Franchising Incorporated.
The company operates three upper economy brands - Country Hearth Inns & Suites, America's Best Inns & Suites, and Budgetel Inns & Suites - plus the upscale 3 Palms brand for independent and condominium hotels.
Among the mix of properties joining the America's Best family last quarter were new construction sites - such as an America's Best Inn & Suites in Little Rock Arkansas, a Country Hearth Inn & Suites in Greensboro, North Carolina, and a Budgetel Inn & Suites in Hearne, Texas - plus 3 Palms beach resorts in Myrtle Beach, South Carolina and Kissimmee, Florida.
Other properties included renovated Budgetel sites in such high-profile cities as Atlanta and New Orleans.
"Our momentum is especially encouraging when you consider that the first quarter is traditionally a slower quarter - and that during this year's first quarter, the economy was in a downturn and financing was tight," added Collins.
"We see continuing improvement in the months ahead and are optimistic that our industry will return to stability by the end of the third quarter."
According to Collins, America's Best expects to sell and open 40 to 60 properties during 2009, which would represent an annual growth rate of 20 to 30%.
"The financial environment remains challenging and unfamiliar for all if us, so it makes sense for hotel owners to be comfortable with familiar brands and proven services such as ours," added Collins.
As an added incentive for hoteliers, the company announced a reduced and simplified fee structure in December for its Budgetel brand, consisting of a $500 application fee, a $5,000 initial fee, a $20 per room per month royalty fee, a 7% fee for reservations delivered by the Global Distribution System (GDS), and an annual exit opportunity.
America's Best Franchising Incorporated operates more than 200 hotel properties under its four brands.
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