I have reported on the work of the Castell Project before. It is a nonprofit that implements initiatives that enable companies and their female employees to fully benefit from workforce participation. Earlier this year they released their Women in Hospitality Industry Leadership report. In that report it was stated that only one woman enters hotel development compared to 9.2 men.
Interestingly, two large franchising companies—Wyndham Hotels & Resorts and Choice Hotels International—recently made announcements having to do with the advancement of female hotel ownership. Kudos to them both. First, Wyndham Hotels & Resorts announced a new program, “Women Own the Room” designed to advance and empower female entrepreneurs who are interested in hotel ownership. Wyndham’s Women Own the Room program is intended to be a resource to help overcome common barriers women face in hotel development and to help them effectively open and run their hotels. The program is built on the pillars of delivering comprehensive financial solutions; offering personalized operational guidance and support; and establishing an inclusive community for networking and education.
This fall, Wyndham will launch a series of events with topics to include:
- Why the time is right for women to get into hotel development;
- How to select sites and perform feasibility assessments;
- Guidance and tips on securing financing for your hotel; and
- Personal stories of female hotel developers that successfully broke the mold.
Together with these educational and networking events and commitment to use its balance sheet to support women hotel owners, Wyndham is also launching a development incentive program that will provide meaningful Wyndham financing, plus complimentary or expanded first-year operating services to support the success of hotels developed by women.
“As the hotel industry resets and recovers from one of the most difficult periods in its history, we all have a unique opportunity to help advance and champion diversity in hospitality to help our industry prosper. At Wyndham—where diversity, equity, and inclusion are key cornerstones of our culture—we recognize the chance to do our part by helping to open more doors for women in our industry,” said Chip Ohlsson, Chief Development Officer, Wyndham Hotels & Resorts.
Choice Hotels Initiative
Choice Hotels International, Inc. just announced the expansion of its emerging markets franchise development program with new development incentives for female owners, as part of the company’s ongoing commitment to diversity. The expansion builds upon Choice Hotels’ longstanding efforts to extend the opportunity of hotel ownership to underrepresented populations and increase diversity among the company’s owner base and across the hospitality industry. In March, Cheryl Goldberg, owner and CFO, IGO Legacy Hotel Group, was awarded the first franchise contract as part of these efforts. She celebrated the opening of her Comfort Inn Saint Paul East hotel in the past few weeks.
“Joining the Choice Hotels family this year has been a rewarding introduction to the outstanding support system of a leading company that truly cares about representation. I’ve been a part of the real estate and hospitality industry for nearly 30 years, and Choice has stood out as a franchisor that provides the guidance, support, encouragement and feedback to put you on the path to success,” said Goldberg. “It’s an honor to be the first female to sign on to this initiative, and I hope to inspire other women to consider hotel ownership and investment.”
Since the March launch this year, the company has granted five contracts to female entrepreneurs, including Cheryl Goldberg, Chetna Manoj, Ravina Mehta, Rachna Sachar, and Dimple Patel. Choice Hotels continues to foster female hotel ownership through sponsorships and support at women-focused conferences on hotel ownership, including She Has a Deal, an education and investment platform for aspiring women hotel investors and developers, Fortuna’s Table, an online community for diverse potential hotel owners to learn, inspire, network, plan and collaborate on the path to hotel investment and ownership, and the Black Girls In Real Estate Conference.
Choice Hotels has a long history of creating and supporting a diverse franchisee base. For over 15 years, the company’s emerging markets team has been dedicated to making small business ownership a reality for underrepresented and minority entrepreneurs. Since the program began, the company has awarded and financially supported over 270 franchise agreements with underrepresented minority and veteran entrepreneurs, including 24 deals awarded last year despite the pandemic.
“Introducing more women entrepreneurs to hotel ownership is great for women, and great for our industry. Our industry is stronger with a variety of people that bring varying backgrounds and points of view. Programs like this move the industry forward,” said Rosanna Maietta, President & CEO, American Hotel and Lodging Foundation.
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