UNITED STATES OF AMERICA —Choice Hotels International has entered into a definitive agreement to acquire Harvest Hosts, an asset-light subscription service for recreational vehicle travelers, from growth equity firm Stripes and individual shareholders. The all-cash transaction values the membership network at an enterprise value of approximately $130 million, funded through existing cash reserves and revolving credit lines. Choice Hotels International is a global lodging franchisor operating over 7,500 properties and 650,000 rooms across 49 countries and territories. Harvest Hosts is a North American network connecting RV owners with overnight stays at independent businesses including wineries, farms and breweries.
Under the transaction terms, Harvest Hosts will retain its brand identity and continue operating as a standalone division under its current executive leadership team. Its full staff will transition to become Choice employees upon the transaction's close on October 1, 2026. The financial integration is projected to have no material impact on Choice's 2026 earnings or planned share buybacks. The acquisition marks a deliberate expansion for lodging operators, diversifying cash flows by integrating physical hotel inventory with subscription-based outdoor recreation models.
By integrating a network of over 11,200 non-traditional stay locations, the deal allows Choice to capture cross-over demand among value-minded travelers who utilize both traditional lodging and RV rentals. The transaction highlights the growing convergence between hospitality franchisors and experiential outdoor travel platforms. Shared loyalty program access is expected to enhance engagement for Choice Privileges members while supplying local hosts with a wider pipeline of mobile consumers.
For the broader hospitality and tourism ecosystem, this acquisition underscores the value of asset-light digital networks that require minimal capital expenditure while opening new revenue streams. Investors and hospitality brands are increasingly targeting niche outdoor sectors to offset shift patterns in domestic leisure travel, creating a template for future M&A activity across alternative lodging markets.
