Choice Hotels International has expanded its emerging markets franchise development program with new development incentives for female owners.
"The growth of our emerging markets franchise development program, directly around supporting female hotel ownership, is proof positive of our commitment to make small business ownership a reality for underrepresented entrepreneurs," said John Lancaster, VP of emerging markets, franchise development and owner relationships at Choice, citing research from the Castell Project that found only one woman was likely to hotel development for every 9.2 men.
Since the emerging markets program began, Choice has awarded and financially supported more than 270 franchise agreements with underrepresented minority and veteran entrepreneurs, including 24 deals awarded last year despite the pandemic. In March, Cheryl Goldberg, owner and CFO of IGO Legacy Hotel Group, was awarded the first franchise contract as part of these efforts. She recently opened the Comfort Inn Saint Paul East hotel.
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"I've been a part of the real estate and hospitality industry for nearly 30 years, and Choice has stood out as a franchisor that provides the guidance, support, encouragement and feedback to put you on the path to success," Goldberg said. "It's an honor to be the first female to sign on to this initiative, and I hope to inspire other women to consider hotel ownership and investment."
Since the March launch this year, the company has granted five contracts to female entrepreneurs: Cheryl Goldberg, Chetna Manoj, Ravina Mehta, Rachna Sachar and Dimple Patel. Choice Hotels aims to foster female hotel ownership through sponsorships and support at women-focused conferences on hotel ownership, including She Has a Deal, an education and investment platform for aspiring women hotel investors and developers; Fortuna's Table, an online community for diverse potential hotel owners to learn, inspire, network, plan and collaborate on the path to hotel investment and ownership; and the Black Girls In Real Estate Conference.