Hospitality Funding Advises Cambria Hotels Expansion in Sonoma County, California
Palm Beach, FL — Hospitality Funding, Inc. arranged funding for the development of a new Cambria hotel & suites in Sonoma County, Calif. Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest hotel companies, signed an agreement with franchise partner Stratus Development Partners, LLC on the new hotel expected to open in 2019.
When assessing the transaction, Hospitality Funding considered the following:
- The four-story, 132-room Cambria property will be located at 5870 Labath Avenue in Rohnert Park.
- The Cambria hotel & suites Sonoma County is in the heart of wine country and next to Napa Valley, offering nearly 60,000 acres of vineyards and more than 400 wineries.
- The region is home to some of California's best golf courses, numerous hot springs, Armstrong Redwoods and Sonoma Coast State Park, Russian River, Graton Resort & Casino, Sonoma State University and the Sonoma Raceway.
- For business travelers, this Cambria property is also conveniently located near Rohnert Park's top employers, including St. Joseph Health, Sutter Santa Rosa Regional Hospital, Kaiser Permanente and Keysight Technologies.
- Cambria hotels & suites are designed to provide a unique and distinctive experience with the services and amenities that travelers demand, including chic décor, flexible spaces for meeting or socializing, stunning rooms that feel like an upgrade, and of course, free WiFi, allowing guests to stay fully connected while they travel.
Of the company’s recent success, Hospitality Funding’s Chairman Scott Silver said, "We are excited to have arranged a construction loan for this ground up development. Not only is it ideally located in the heart of wine country, but this Cambria hotel will be a brand new space for meeting and socializing in a bustling market.”
About Hospitality Funding
Hospitality Funding, Inc. is a boutique investment advisory firm focused on raising equity, mezzanine, and debt financing for the acquisition of all types of hospitality assets. Hospitality Funding works with superior sponsors to find capital solutions that fit their specific goals for property acquisitions. For more information, please visit www.hospitalityfunding.com.
About Cambria hotels & suites
Cambria hotels & suites makes business travel easier—and more fun—than ever before. Offering modern décor, rooms that feel like an upgrade, and fresh, local cuisine at our Social Circle® restaurant, Cambria makes every guest feel like a VIP. There are currently 29 properties open across the country and more than 50 under development in the U.S. and Canada. To learn more, visit www.cambriahotelsandsuites.com.
About Choice Hotels
Choice Hotels International, Inc. (NYSE: CHH) is one of the world’s largest lodging companies. With more than 6,400 hotels franchised in more than 40 countries and territories, Choice Hotels represents more than 500,000 rooms around the globe. As of September 30, 2016, 745 hotels were in our development pipeline. Our company’s Ascend Hotel Collection®, Cambria® hotels & suites, Comfort Inn®, Comfort Suites®, Sleep Inn®, Quality®, Clarion®, MainStay Suites®, Suburban Extended Stay Hotel®, Econo Lodge®, Rodeway Inn®, and Vacation Rentals by Choice Hotels™ brands provide a spectrum of lodging choices to meet guests’ needs. With more than 28 million members and counting, our Choice Privileges® rewards program enhances every trip a guest takes, with benefits ranging from instant, every day rewards to exceptional experiences, starting right when they join. All hotels and vacation rentals are independently owned and operated. Visit us at www.choicehotels.com for more information.
About Stratus Development Partners, LLC
Stratus Development Partners, LLC (“Stratus”) is a full-service real estate firm. Together the highly talented team of principals encompass over 40 years of institutional development experience in origination, entitlement, repositioning and management focused on value-added strategic acquisitions and innovative developments. Over the last 18 years, Stratus’ principals have successfully entitled, developed, built, renovated and redeveloped over 26 communities representing 2,771 units in core markets of Southern California. To learn more, visit http://www.stratusdev.com/company.