News in brief: Choice Hotels, Value Place, Extended Stay
Choice reports net income decline in Q3: Choice Hotels International reported a 6% year-on-year decline in net income during the third quarter of 2013, falling from US$44.3 million to US$41.5 million.
Value Place to expand in Atlanta: Value Place will invest USD$65 million to build 10 new corporate-owned and operated extended stay properties.
Read more at The Sacramento Bee
Extended Stay America to partner with American Cancer Society: Extended Stay America announced a multi-year national partnership with the American Cancer Society, through which the company will donate 40,000 free and discounted roomstays to patients who travel away from home to receive cancer treatment.
Read more at the Houston Business Journal
Hotel industry significantly impacts San Francisco economy: A new study released by the Bay Area Council Economic Institute found that the hotel industry generated US$6.6 billion in direct and indirect spending in the region in 2012.
Read more at the San Francisco Chronicle