Choice Hotels Expands SOAR Initiative for Diverse Entrepreneurs

Choice Hotels Expands SOAR Initiative to Empower Entrepreneurs

Choice Hotels International, Inc. (NYSE: CHH) is taking significant strides to enhance hotel ownership opportunities for underrepresented entrepreneurs. This initiative, known as the Supporting Ownership Access and Representation (SOAR) program, is designed to promote diversity within the hospitality industry.

New Contracts Under SOAR Program

The company recently announced two exciting new contracts as part of this impactful program. These contracts include a WoodSpring Suites located in Truth or Consequences and a Rodeway Inn situated in Effingham. These locations represent a continued commitment by Choice Hotels to support diverse ownership across its brand and provide empowering business opportunities to those who are often overlooked in the industry.

Increasing Opportunities for Diverse Ownership

In the past years, the SOAR program has gained traction, with the number of contracts increasing steadily. Over the initial 15 years, the program averaged one contract per month, demonstrating a steady but cautious growth. However, in the last five years, this pace has accelerated to an average of two contracts per month, indicating a growing recognition of the need for more inclusive ownership options.

Commitment to Diversity and Inclusion

Choice Hotels understands that fostering a diverse ownership base leads not only to a more equitable hospitality industry but also enhances guest experiences. By empowering underrepresented entrepreneurs, the organization can tap into a wider range of perspectives, ultimately allowing for innovative business solutions and improved customer service.

Significant Impact on the Hospitality Sector

The impact of these initiatives does not only benefit entrepreneurs but also enhances the overall landscape of the hospitality sector. By increasing representation among hotel owners, customers can expect to see a more diverse offering in terms of services, culture, and community engagement. This is a win-win for both the entrepreneurs and the guests who will enjoy a richer, more varied hospitality experience.

Next Steps for Aspiring Hotel Owners

Those looking to participate in the SOAR program should familiarize themselves with the application process. Choice Hotels is committed to assisting applicants through each step, providing access to resources and support aimed at fostering successful businesses. With the recent announcement of new contracts, it's an exciting time for aspiring hotel owners within underrepresented communities.

Community Engagement and Support

With the SOAR initiative, Choice Hotels is not just providing contracts but also fostering community engagement. This approach reinforces their commitment to supporting local economies and nurturing entrepreneurship through collaborative efforts. Such engagement ensures that the success of these hotels translates into benefits for the surrounding communities.

Frequently Asked Questions

What is the SOAR program by Choice Hotels?

The SOAR program is an initiative by Choice Hotels to enhance hotel ownership opportunities for underrepresented entrepreneurs.

How many contracts have been signed under the SOAR program so far?

So far, 17 SOAR contracts have been signed this year, reflecting growing support for diverse ownership.

What types of hotels are included in the recent contracts?

The recent contracts include a WoodSpring Suites and a Rodeway Inn, showcasing diverse hospitality options.

How does Choice Hotels support aspiring hotel owners?

Choice Hotels offers resources, support, and guidance throughout the application process to empower aspiring owners.

Why is diversity important in the hotel industry?

Diversity in ownership leads to varied guest experiences and bolsters community engagement, enhancing the hospitality sector as a whole.

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