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Choice Hotels Acquisition of Suburban Franchise Tops $10M

SILVER SPRING, MD-Choice Hotels International Inc. acquires Atlanta's Suburban Franchise Holding Co. Inc. in a $10.5-million transaction that includes the possibility of a payment of $5 million over the upcoming three years. The deal leaves Choice with an additional 67 properties.

By Barbra Murray | Updated on October 03, 2005

SILVER SPRING, MD-A $10.5-million transaction has left locally based lodging franchisor Choice Hotels International Inc. in possession of Atlanta’s Suburban Franchise Holding Co. Inc. Choice Hotels made a cash payment of $8 million for the company, with the remaining $2.5 million being paid in the form of liabilities.

The deal also allows for the possibility of an additional $5-million payment over a three-year period. The arrangement brings Choice Hotels’ system of brands up to 10 and adds 67 Suburban Extended Stay Hotel chains to Choice’s holdings.

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