Corporate and Real Estate Development
|SILVER SPRING, Md. (February 8, 2006) – Choice Hotels International,
Inc. (NYSE:CHH) today announced that it has hired Elaine Clancy as vice
president, corporate and real estate development. In this new position,
Clancy will identify and assess development opportunities in key markets
for Choice's hotel brands, with an emphasis on evaluating and recommending
investment strategies for the company’s new, select-service upscale brand,
Cambria Suites. In addition, Clancy will work with Choice’s development
team to establish innovative financing strategies to help expand the company’s
presence in both the extended stay and upscale lodging segments.
She reports to Joseph M. Squeri, executive vice president and chief financial
Ms. Clancy has more than 15 years of experience in real estate development, financing and investment banking. She joins Choice from Ferris, Baker Watts, Inc., where she was a senior vice president in the Real Estate Capital Markets Group. While at Ferris, Baker Watts, Ms. Clancy worked with a number of real estate investment trusts and real estate operating companies, completing over $1.5 billion in transactions.
"Elaine’s proven real estate, development and finance skills will be a tremendous asset to us, especially as we create and execute new brand investment strategies to accelerate the growth of Cambria Suites," Squeri said.
Prior to joining Ferris, Baker Watts, Clancy was a co-founder and principal
of Velasco Group, LLC, a private real estate and investment and merchant-banking
firm in Arlington, Virginia. Prior to Velasco, she was a senior vice
president in the real estate investment banking department at Friedman,
Billings, Ramsey & Co. Inc. and also served as the chief financial
officer of FBR Asset Investment Corporation. While at FBR,
Clancy was involved in lead managing over $4 billion in real estate investment
trust and specialty finance transactions. She earned her MBA
from Northwestern University’s Kellogg School of Management and her BBA
from James Madison University.
Choice Hotels International, Inc.
|Also See:||Choice Hotels Acquires Suburban Franchise Systems, Inc. for Approximately $10.5 million; Suburban Extended Stay Hotels Becomes the Tenth Brand in the Choice Hotels System / September 2005|
|Joseph M. Squeri Promoted to Choice Hotels' Executive Vice President, Operations, and Chief Financial Officer / May 2005|