Choice Hotels International, one of the world's largest lodging companies, has signed a letter of intent to move its headquarters to Rockville when its current lease, in Silver Spring, expires in 2013.
The company has been looking for a new headquarters of 130,000 square feet or more in the Capital Region to accommodate a growing number of employees. It is in negotiations to lease office space in Rockville Town Center. Once at the new location, the company plans to add 75 new employees, adding to its current base of approximately 400 employees in Maryland. Also under consideration is a Cambria Suites hotel near the proposed headquarters site to accommodate an estimated 10,000 stays per year generated by employee and franchisee training programs, as well as other community, vendor, and hotel developer events.
"Over the past two years, we've conducted extensive site reviews and considered a number of locations for our new headquarters that will continue to provide our employees with a great working environment. Paramount in our decision was to identify a location convenient to where the vast majority of our employees currently live and which provides easy access to public transportation, as well as shops and services," says Stephen P. Joyce, president and CEO of Choice Hotels. "Additionally, we are pleased with the support shown to us by the State of Maryland, Montgomery County and the City of Rockville for Choice Hotels to remain in Maryland just 10 miles from our current home."
To help retain Choice Hotels in Maryland, and assist the company with its relocation, the State, County, and City are providing $4.3 million in conditional loans and grants that are contingent upon job creation at the new headquarters. In addition, the company is eligible for State, County, and City tax credits, including the County's New Jobs Tax Credit, and could also receive Tax-Exempt Recovery Zone Facility Bonds.
Source: Office of Governor Martin O'Malley
Writer: Walaika Haskins