Choice Hotels Buys Harvest Hosts for $130M in Outdoor Push

Choice Hotels International will acquire RV travel membership club Harvest Hosts for approximately $130 million in cash, marking the hotel franchisor's first push beyond brick-and-mortar lodging [[1], [2]]. The deal absorbs an asset-light subscription network connecting over 500,000 members with free overnight parking across 11,200 wineries, farms, breweries, and attractions [[1], [2]].

What are the terms and timeline of the acquisition?

Choice Hotels is purchasing 100 percent of Harvest Hosts in an all-cash transaction valued at an enterprise value of approximately $130 million [[1], [3]]. The company will fund the purchase using existing cash on hand and borrowings under its revolving credit facility, according to Lodging Magazine [[2], [3]]. The transaction is expected to close on October 1, 2026, subject to customary closing conditions [3].

Growth equity firm Stripes previously invested $37 million in Harvest Hosts in 2021 [2]. The current sale price represents roughly 3.5 times that 2021 purchase figure [2]. Choice noted the purchase will not alter its previously communicated 2026 share repurchase expectations and is not expected to materially affect its 2026 financial results [3]. Jefferies LLC served as financial advisor to Harvest Hosts, while Weil, Gotshal & Manges LLP served as its legal counsel [3]. ArentFox Schiff LLP acted as legal counsel for Choice Hotels [3].

How does the Harvest Hosts business model work?

Harvest Hosts operates purely as an asset-light subscription company rather than a traditional lodging provider [[1], [2]]. Skift reported that members pay an annual subscription fee ranging from $99 to $179 [2]. Once subscribed, members can book overnight stays at affiliated host properties without paying lodging fees to the hosts themselves [2].

Instead of receiving guest accommodation payments, host sites rely on direct purchases from travelers [2]. Harvest Hosts reports its community tops 500,000 RVers, who have spent more than $200 million at host locations since 2010 [2]. The network spans over 11,200 locations throughout the United States, including farms, museums, wineries, and breweries [[1], [2]].

What does the deal mean for Harvest Hosts operations and leadership?

Harvest Hosts will remain a standalone business under its existing consumer brand [[1], [3]]. CEO Joel Holland will continue to lead the unit alongside his existing management team [[1], [3]]. Once the transaction completes, the entire Harvest Hosts workforce will become Choice Hotels employees [[1], [3]].

Preserving the separate identity protects the established host relationships that power the network [3]. As Holland noted, the business centers on personal links formed among RVers and local business operators [1]. The acquisition represents the first corporate transaction led by Dom Dragisich since his appointment as president and chief executive officer of Choice Hotels [[1], [2]].

How does Choice plan to link Harvest Hosts with hotel loyalty?

Choice Hotels intends to capitalize on travel overlap between hotel guests and road-trippers [1]. Research conducted by Choice found that Choice Privileges loyalty members are active participants in both hotel accommodation and RV excursions [1]. Hotel Dive reported that Choice plans to leverage its scale and loyalty program reach to introduce hotel guests to Harvest Hosts while expanding engagement among current subscribers [1].

However, Choice has not yet outlined specific operational plans for marketing to these travelers or integrating Harvest Hosts bookings directly into Choice Privileges [2]. The company highlighted Harvest Hosts' zero-real-estate profile as an operational fit for Choice's long-term corporate growth [[1], [3]].

How does this acquisition compare to rival outdoor lodging deals?

The deal makes Choice the last of the four major U.S. hotel franchisors to secure a presence in outdoor travel [2]. Other legacy hotel chains previously pursued partnerships and acquisitions with boutique glamping, cabin, and camper brands rather than pure subscription clubs [[1], [2]].

In 2024, Hilton partnered with upscale Airstream operator AutoCamp, while Hyatt established a partnership with glamping company Under Canvas [[1], [2]]. Marriott International created its Outdoor Collection under Marriott Bonvoy, which includes Trailborn and Postcard Cabins [[1], [2]]. While competitors rely on branded physical outposts, Choice opted for a digital platform model that does not own or lease land [[1], [2]].