Choice Hotels Buying Harvest Hosts for $130 Million
NORTH BETHESDA, MD — Choice Hotels International, a major hotel chain, has entered into an agreement to acquire Harvest Hosts, a community-oriented RV travel membership company for $130 million in an all-cash deal.
Choice Hotels is acquiring 100% of Harvest Hosts from Stripes, a New York-based growth equity firm and other shareholders.Harvest Hosts connects RV travelers with unique overnight experiences at more than 11,200 host locations, including wineries, farms, breweries, museums and other attractions. It provides members with an accessible way to discover distinctive destinations while supporting local businesses.
Many travelers already enjoy both hotel and RV travel, and Choice Privileges members are particularly active in both. Research shows that Choice Privileges members over-index among RV travelers, creating a natural opportunity to connect Choice’s large and growing loyal traveler base with Harvest Hosts’ distinctive network of RV experiences. By bringing together Choice’s scale, commercial capabilities and loyalty reach with Harvest Hosts’ unique offerings, Choice sees an opportunity to deepen engagement with existing members, introduce more travelers to Harvest Hosts and support the continued growth of both businesses.
“Choice Hotels has a long history of delivering quality travel experiences for value-minded consumers, and our acquisition of Harvest Hosts extends that reach into an attractive segment of the outdoor travel market. Together we offer even more stay options for both of our companies’ guests,” said Dom Dragisich, President and CEO of Choice Hotels International.
He continued, “Harvest Hosts has built a passionate, loyal membership community by partnering with local businesses to offer the accessible, distinctive experiences today’s RVers are looking for. And they have done it through an asset-light model that complements our broader portfolio strategy. I’m excited to welcome the Harvest Hosts team to the Choice Hotels family.”
Harvest Hosts will continue to operate as a standalone business under its existing brand, preserving its distinct member and host experience and the relationships that have built its community. Choice Hotels and Harvest Hosts will continue to enhance and grow the business. The acquisition is complementary to Choice’s existing hotel portfolio and consistent with its long-term asset light strategy.
“The heart and soul of Harvest Hosts is the unique connections we have built between our members, hosts and employees,” said Joel Holland, Owner and CEO of Harvest Hosts. “We share a love of the open road and the communities that make every journey memorable. Joining forces with Choice Hotels gives us an incredible opportunity to bring that experience to more people and accelerate our mission of creating millions of happier campers and communities.”
Stripes invested in Harvest Hosts in 2021, partnering with Joel Holland and the management team to help scale the company’s differentiated membership experience and expand its reach across the RV community.
“At Stripes, we believe the best businesses start with amazing products that customers genuinely love, and Harvest Hosts is a great example of that. Joel and the team have built a differentiated experience that makes RV travel more memorable, accessible and rewarding, while creating real value for thousands of local businesses across the country. We’ve been proud to partner with the team as they’ve scaled that experience and built an incredibly passionate community, and we believe Choice is an exceptional home for Harvest Hosts as it enters its next chapter of growth,” said Chris Carey, Partner at Stripes.
Choice Hotels International is one of the largest lodging franchisors in the world, with over 7,500 hotels, representing more than 650,000 rooms, in 49 countries and territories.
