February 23, 2010 // Franchising.com // The Budgetel brand has opened almost one property a month during its first year under franchising and management by Atlanta-based America's Best Franchising, Inc., making it one of the fastest growing new brands in the hotel industry.
Today, there are eleven Budgetel Inns & Suites with 1,012 rooms in operation, including a Budgetel in Yiwu, Zhejiang China. Another two properties are scheduled to open within the next sixty days.
"We had strong expectations for Budgetel when we acquired exclusive licensing rights for the brand, but the marketplace has been even more enthusiastic than anticipated," explains Doug Collins, President and CEO of America's Best Franchising, Inc.
Budgetel, first introduced in 1974, went dormant before being acquired in 2007 by Budgetel Franchise System, which signed a Licensing Agreement in November of 2008 that made America's Best Franchising, Inc. the sole world-wide franchiser and management firm for the brand. The Licensing Agreement consists of an initial five year term, followed by four additional periods of five years each.
"The Budgetel name represents an exceptional value, especially in today's economic environment – for travelers, it means quality accommodations at affordable prices while for hoteliers, it means a great investment backed up with proven marketing and administrative services," added Collins. "We expect to continue capitalizing on this momentum."
Since being founded in 1993, America's Best Franchising, Inc. has developed a solid network of 257 properties with a combined total of 17,097 rooms in the United States, Canada, China, Argentina, and India.
In addition to Budgetel, the company operates three other upper economy hotel brands – America's Best Inns & Suites, Country Hearth Inns & Suites, and Vagabond Inns & Suites – plus the upscale "3 Palms" brand for independent hotels.