Choice Hires Elaine Clancy as VP, 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 officer.
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.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
