Choice Hotels Hires Elaine Clancy, Vice President, Corporate & Real Estate Development
(Thursday, February 09, 2006) -
Choice Hotels International, Inc. (NYSE:CHH) today announced that it has hired Elaine Clancy as vice president, Corporate and Real Estate Development. In this new position, Clancy will identify and assess development opportunities in key markets for Choice's hotel brands, with an emphasis on evaluating and recommending investment strategies for the company's new, select-service upscale brand, Cambria Suites. In addition, Clancy will work with Choice's development team to establish innovative financing strategies to help expand the company's presence in both the extended stay and upscale lodging segments. She reports to Joseph M. Squeri, executive vice president and chief financial officer.
Ms. Clancy has more than 15 years of experience in real estate development, financing and investment banking. She joins Choice from Ferris, Baker Watts, Inc., where she was a senior vice president in the Real Estate Capital Markets Group. While at Ferris, Baker Watts, Ms. Clancy worked with a number of real estate investment trusts and real estate operating companies, completing over $1.5 billion in transactions.
"Elaine's proven real estate, development and finance skills will be a tremendous asset to us, especially as we create and execute new brand investment strategies to accelerate the growth of Cambria Suites," Squeri said.
Prior to joining Ferris, Baker Watts, Clancy was a co-founder and principal of Velasco Group, LLC, a private real estate and investment and merchant-banking firm in Arlington, Virginia. Prior to Velasco, she was a senior vice president in the real estate investment banking department at Friedman, Billings, Ramsey & Co. Inc. and also served as the chief financial officer of FBR Asset Investment Corporation. While at FBR, Clancy was involved in lead managing over $4 billion in real estate investment trust and specialty finance transactions. She earned her MBA from Northwestern University's Kellogg School of Management and her BBA from James Madison University.
About Choice Hotels International. Choice Hotels International is one of the world's largest lodging franchisors, marketing more than 5,000 hotels open or under development in more than 40 countries under the Cambria Suites, Clarion, Quality, Comfort Suites, Comfort Inn, Sleep Inn, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brand names. For more information on Choice, visit the company's Web site at choicehotels.com.
Media Contact: Anne Madison Tel: (301) 592-6723 Fax: (301) 592-6177 anne_madison@choicehotels.com
Choice Hotels, Choice Hotels International, Cambria Suites, Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn are proprietary trademarks and service marks of Choice Hotels International.
Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities law. Such statements are based on management's beliefs, assumptions and expectations, which in turn are based on information currently available to management. Actual performance and results could differ from those expressed or contemplated by the forward-looking statements due to a number of risks, uncertainties and other factors, many of which are beyond Choice's ability to predict or control. For further information on factors that could impact Choice and the statements contained herein, we refer you to the filings made by Choice with the Securities and Exchange Commission, including its registration statement on Form S-4 and report on Form 10-K for the year ended December 31, 2004.
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COMPANY INFORMATION
Choice Hotels International
10750 Columbia Pike
Silver Spring,
MD
Toll Free: (800)547-0007
Fax: (301)592-6205
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