In his new position, Mr. Hoefer will lead the company's efforts to develop new business opportunities. A key part of Mr. Hoefer's expanded role is to look at opportunities to expand the organization's distribution platform with new business models, develop new markets for Choice Hotels products, as well as identify avenues to leverage its assets for potential monetization opportunities.

"I am confident that Erich's vision and leadership skills will position the company to take full advantage of the vast potential that lies ahead," said Pacious. "I, along with the other members of our organization's executive team, have a great deal of respect for Erich's ability to develop relationships and his broad understanding of our business. These skills, along with his outstanding background, will serve us well as he leads our efforts to expand our company's reach and business opportunities."

Mr. Hoefer joined Choice Hotels in 2003 as manager of strategic planning and later served as the brand manager for the Quality brand. In his most recent position as senior director, corporate development and innovation, Mr. Hoefer has been instrumental in identifying new relationships and partners that have successfully expanded the company's existing distribution platform and supported its international growth strategy.

Prior to joining Choice Hotels, Mr. Hoefer held various strategy and management roles at the American Forest & Paper Association. He holds a MBA degree in finance, strategy, and technology from the Kellogg School of Management at Northwestern University and a BSFS degree in international finance and commerce from Georgetown University.