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Choice Hotels International Inc. (NYSE: CHH) has inked an agreement with Koucar Management to develop a new Cambria hotel in Portland that’s slated to open in 2021.
It will be a beer-themed “brewtel” involving Shipyard Brewing Co. and will be Cambria’s first hotel in Maine.
Located at 86 Newbury St., on the booming East End of Portland, the 102-room hotel is part of a package of four Cambria hotels in strategic markets that Koucar will deliver in the next year or two, according to a news release.
“Cambria’s unique value proposition and overall performance is leading more and more developers to commit to multiple projects, further accelerating the brand’s growth in prime locations across the United States,” said Mark Shalala, vice president of franchise development and upscale brands for Choice Hotels.
It will be adjacent to the new headquarters for Covetrus (NASDAQ: CVET) and a block from the new headquarters of WEX Inc. (NYSE: WEX). It is also in a key market for leisure travelers, near the Old Port.
Shalala said Portland is “one of the top revenue-per-available-room markets in the country, thanks in part to record tourism.”
Based in Michigan, Koucar Management is one of the largest private real estate developers in the Midwest and has over 25 years of experience in commercial, residential, and hotel development and management.
There are more than 40 Cambria Hotels across the U.S. in cities like Chicago, Los Angeles, New York, New Orleans and Washington D.C. Cambria Hotels will be entering more markets this year, including Boston, Houston and, in California, Anaheim and the Napa Valley.