The lodging franchisor is paying cash for an 11,200-location RV membership network, stretching its asset-light model beyond hotel rooms and into outdoor travel.
Choice Hotels International has agreed to buy Harvest Hosts, an RV travel membership company, from growth equity firm Stripes and other shareholders. The all-cash deal carries an enterprise value of about $130 million and is expected to close October 1, funded with cash on hand and borrowings on Choice's existing revolver.
Harvest Hosts sells annual memberships that let RV travelers stay overnight at more than 11,200 host sites, including wineries, farms, breweries and museums. Choice owns no real estate in that model and adds no rooms to its 7,500-hotel system. It is buying a subscription base and a network of small businesses that host travelers for free in exchange for foot traffic.
Choice says its Choice Privileges members over-index among RV travelers. That overlap is the thesis: cross-sell RV memberships to hotel loyalists and pull RV travelers back into hotel stays when they want a real bed. Harvest Hosts will keep its brand and run as a standalone business, and Choice says the deal will not materially move 2026 results or its buyback plans.
Hotel owners pay into loyalty and marketing programs, so a bigger, more engaged member base can drive bookings back to franchised properties. The open question is where the program dollars go. If Choice leans on its hotel system's marketing muscle to grow Harvest Hosts, owners will want proof that RV members convert into paid room nights rather than just new app downloads.
The deal shows a mature franchisor buying an adjacent, capital-light membership business to extend customer lifetime value instead of adding units. Multi-brand franchisors in home services and wellness are running the same playbook with shared customer databases. Expect more franchisors to price acquisitions on the customer relationships they bring, not the locations.
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