Highside Secures $500M to Grow Choice Hotels’ Everhome Suites

Highside Companies has secured a $500 million financing package from affiliates of Apollo Global Management to expand Everhome Suites, a midscale extended-stay hotel brand operating under Choice Hotels International.

The new funding will be directed toward construction and operational costs for both existing and new Everhome projects.

Founded in 2019, Highside Companies is a real estate investment and development firm with over $1 billion in active projects across the US and Canada.

The Everhome Suites brand continues to expand with nine new openings across Texas, Arizona, Oregon, and Ohio.

In July, Choice Hotels (CHH) and Highside created a joint venture (JV) for Everhome Suites. Choice contributed $71.6 million for an 80 percent equity stake and sold four in-progress developments valued at $52 million to the JV.

Check out our article to learn about the top hotel groups, including Choice Hotels, and their impact on the hospitality industry.

Photo by Marten Bjork on Unsplash