Business & Finance

Choice Hotels Signs Development Agreement with GVK Enterprises for Five Hotels in Greece

ROCKVILLE, MD. December 20, 2016 - Choice Hotels International, Inc. (NYSE: CHH) announced today it has signed a multi-unit development agreement with GVK Enterprises, a hospitality management and development firm, to introduce and establish a hotel portfolio in Greece.

Choice anticipates the first property under the agreement will open by the summer of 2017 under the Comfort® brand flag in Athens, and four additional properties will be developed on the Greek mainland and islands under the Comfort®, Quality® and Clarion® brands.

"We are thrilled to be expanding our European portfolio to Greece, an important travel and tourism destination that has shown signs of strong recovery and positive forecasts," said Mark Pearce, senior vice president, international division, Choice Hotels. "Choice wants to support and participate in this recovery and we have every confidence that our brands will thrive in such a dynamic market."

"I'm delighted to work with Choice Hotels and bring their Comfort, Quality and Clarion brands to the Greek capital and islands. We look forward to helping Choice develop a portfolio of hotels that will appeal to international travelers visiting Greece for either business or pleasure. We are extremely proud to be able to bring Choice to a land filled with so much history and culture. Greece has always been one of the most popular tourism destinations and we look forward to sharing the food, hospitality and beaches with the rest of the world through the millions of guests of the Choice family," said George Kontos, President, GVK Enterprises.

This agreement follows several other EMEA market portfolio expansions that Choice has announced in 2016. In April, the company announced it had signed an agreement to deliver approximately 25 hotels and 8,000 rooms in UAE and Saudi Arabia by 2021. Other deals signed include establishing multiple hotels in Belgium and the co-branding of 19 properties in Germany, Austria and Hungary under the Comfort and Quality brands. Choice recently launched its upscale Ascend Hotel Collection® brand in the UK and France, with Turkey to follow in 2017.

About Choice Hotels

Choice Hotels International, Inc. (NYSE: CHH) is one of the world's largest lodging companies. With more than 6,400 hotels franchised in more than 40 countries and territories, Choice Hotels International represents more than 500,000 rooms around the globe. As of September 30, 2016, 745 hotels were in our development pipeline. Our company's Ascend Hotel Collection®, Cambria® hotels & suites, Comfort Inn®, Comfort Suites®, Sleep Inn®, Quality®, Clarion®, MainStay Suites®, Suburban Extended Stay Hotel®, Econo Lodge®, Rodeway Inn®, and Vacation Rentals by Choice HotelsTM brands provide a spectrum of lodging choices to meet guest needs. With more than 28 million members and counting, our Choice Privileges® rewards program enhances every trip a guest takes, with benefits ranging from instant, every day rewards to exceptional experiences, starting right when they join. All hotels and vacation rentals are independently owned and operated. Visit us at www.choicehotels.com for more information. © 2016 Choice Hotels International, Inc. All rights reserved.

Contact:
Scott Carman
scott_carman@choicehotels.com
301-592-6361

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Eco-Friendly Practices: The Value of Sustainability
The hotel industry continues to make remarkable progress in implementing sustainability policies and procedures in their properties throughout the world. As a result, they continue to reap the benefits of increased profitability, enhanced guest experiences, and improved community relations. In addition, as industry standards are codified and adopted worldwide, hotels can now compare how their operations measure up against their competitors in terms of sustainable practices and accomplishments. This capacity to publicly compare and contrast is spurring competition and driving innovation as hotels do not wish to be left behind in this area. Water management and conservation is still a primary issue as population growth, urbanization, pollution and wasteful consumption patterns place increasing demands on freshwater supply. Water recycling; installing low-flow fixtures; using digital sensors to control water usage; and even harvesting rainwater are just a few things that some hotels are doing to preserve this precious resource. Waste management is another major concern. Through policies of reduce, reuse and recycle, some hotels are implementing “zero-waste” programs with the goal of substantially reducing their landfill waste which produces carbon dioxide and methane gases. Other hotels have established comprehensive training programs that reinforce the value of sustainability. There is employee engagement through posters and quizzes, and even contests are held to increase innovation, sensitivity and environmental awareness. Some hotels are also monitoring a guest’s energy usage and rewarding those who consumed less energy with gifts and incentives. The May issue of the Hotel Business Review will document how some hotels are integrating eco-friendly practices into their operations and how they and the environment are benefiting from them.