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Choice Hotels international CEO Steve Joyce on expanding the franchise into energy market states.
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So can't this Choice Hotels is expanding -- US economic boom towns the hotel franchises setting up shop in states with moving.
Energy markets these include -- to concede Texas Pennsylvania North Dakota South Dakota.
Joining me now -- -- Choice Hotels International.
CEO's -- it's good to have you on the show we're gonna get earnings -- tour again pretty stronger company but finding a very unique opportunity.
What's when it comes to expanding in these energy markets why did you pick these particular states and how to perform -- -- Well you've got you know because of the Obama -- of the fracking process you've got new opportunities.
For energy -- is obvious in big demand and what's happened is communities are springing up around it employment markets improve significantly.
We -- we're not only get on oil workers were were getting the folks that are building the communities are gonna surround these things.
They're building shopping centers and we -- there's a strong demand for hotels.
Our franchisees are reaching out in this communities and it's a great thing for both of us.
I was looking at the expansion quarter over quarter -- came out what -- numbers last week 450.
Three international hotels in the pipeline as well also it's not just the domestic story here for choice but -- the international is wow.
Yet -- evident were really avenue or -- a strong year so far.
We are.
Development of the United States is really spring and up nicely.
Number of our brands both new build and conversion opportunities are coming through.
Sleeping comforter getting hot again and then but it's also it's also spreading to Europe and a number other markets.
We've -- hotels in Germany France and New Zealand.
We've got a lot going on down in Brazil so it's really it's really been a good year for so far more hope work.
We're convince is gonna continue.
Venus you last time we spoke out last quarter I don't we were talking again about that European focus and I was surprised -- that you were focused.
On Europe as an expansion opportunity and they are you concerned right now with got a lot of news breaking out -- Europe.
With leaders there are you worried at all.
Well you know it's some it's -- because we think it's creating more of an opportunity force.
Because there are some hotels there that are struggling most of them are on branded and they'll look to branding opportunities to improve their revenues.
We're doing well in London this week I can tell you that know -- that's helped a little bit of what we are -- we are actually pretty bullish on development for Europe.
The performance in Europe is behind the states it's still positive but -- slower.
And you've got pockets where it's not so strong but overall Europe is relatively on branded.
It's looking to be branded.
The hotels are not cookie cutter types that sort of our specialty so we think long term that's a really great opportunity for a.
CNN business -- story here for you I do -- -- ask you really quick you know your stock is up yet had the dividend announcement on June 19.
Stock is up bluster about 7% but over the last year the stock is up 32 per -- Are you find the -- off from the analyst when it comes to delivering over the next twelve months for the brand.
Yeah well I think they've got.
Strong expectations for us both from a performance.
Standpoint but also from a growth story and I think we're providing that to them so I think.
You know I think there's a very there's a very positive reaction to.
Not only the dividend that we're doing but also the results that we've got.
We're having a great summer and it looks like it's gonna continue through so were were pretty excited where we are there are high expectations but were convinced.
That no word -- probably gonna meet up.
Steve Joyce is CEO Choice Hotels International again and Emily says it -- -- it was good to have you -- for this quarter thank you up.
