Choice Hotels Supports Underrepresented Owners through SOAR Program

SOAR-Ing to Success: Choice Hotels Awards First Contract to Underrepresented Entrepreneurs

Choice Hotels International has announced its first contract under the recently reintroduced SOAR (Supporting Ownership Access and Representation) program. The program is designed to create hotel ownership opportunities for underrepresented entrepreneurs. Damon Healey of Eternal Companies, a real estate investment and asset management firm, has signed a contract to convert two hotels in Georgia to Suburban Studios, one of Choice's four extended stay brands. These properties opened on May 30th.

"We're so excited to announce the first contract under the newly reintroduced SOAR program and to work with franchisees like Damon Healey. Our team is dedicated to opening doors so underrepresented entrepreneurs can soar as hotel owners," said John Lancaster, vice president of franchise development and strategic programs at Choice Hotels International.

"Choice has one of the best franchise models, especially in the extended stay category. I'm thrilled that our hard work and dedication, with the help of SOAR and our investors, including partners within the African American community, have paid off, and we've successfully opened two Suburban Studios in Georgia," said Damon Healey, founder of Eternal Companies. "The level of support we have received from Choice on navigating hotel ownership every step of the way has been exceptional. I hope my journey will inspire others to get into hotel ownership."

Suburban Studios' "Extended Stay Made Easy" design package offers flexibility to enable quick and efficient conversions. The new Suburban Studios property details are as follows:

• Suburban Studios Columbus Bradley Park has 92 rooms and is situated at 1721 Rollins Way in Columbus, Georgia. The hotel is conveniently located near local attractions such as the National Infantry Museum, Flat Rock Park, the National Civil War Naval Museum, and the Columbus Botanical Garden.
• Suburban Studios Macon North is situated at 3980 Riverside Drive in Macon, Georgia, and offers 73 rooms. The hotel is conveniently located off I-75 and is close to various local attractions, including the Ocmulgee Mounds National Historical Park, the Museum of Arts and Sciences, Amerson River Park, and the Allman Brothers Band Museum at the Big House.

"Choice is a leader in the extended stay category, which is one of the fastest-growing segments in the hospitality industry, with demand exceeding supply," explained Matt McElhare, Vice President and head of extended stay brands at Choice Hotels. "We are thrilled to welcome Damon Healey and Eternal Companies to the Choice extended stay family and look forward to collaborating on future projects."

The SOAR program was reintroduced earlier this year, reaffirming Choice's longstanding commitment to supporting underrepresented entrepreneurs in achieving their dream of small business ownership. Choice Hotels is the only hospitality company with a dedicated team focused solely on providing the opportunity of hotel ownership to underrepresented populations. Since the program's inception over 20 years ago, Choice has proudly awarded and financially supported more than 370 franchise agreements with underrepresented minority and veteran entrepreneurs.

In 2023, Choice's Emerging Markets program, now known as SOAR, signed 28 new franchise contracts. These contracts were with African American, Hispanic, Native American, veteran, and women entrepreneurs. Specifically, nine contracts were signed with African American hotel owners, and 17 contracts were signed with women owners through the HERtels by the Choice program. This program, designed by Women for Women, aims to empower female entrepreneurs throughout their ownership journeys. In 2023, the number of agreements signed with Native American hotel owners doubled compared to the prior year, and the number of agreements with Hispanic and Latino owners increased by 30%. Since the launch of the HERtels by Choice program in 2021, approximately 80 women have participated, leading to 59 new female-owned hotels.