Eating Good: Penn Stock Hits New Highs as Gaming Company Allies with Choice Hotels – Play Pennsylvania

On the day after Penn National Gamings stock hit a record $105.95 per share at closing, the Pennsylvania-based gaming company announced a planned alliancewith Choice Hotel International.

The companies plan to offer reciprocal earning and redemption benefits across each companys loyalty program.

Robert McDowell, the chief commercial officer of Choice Hotels, explained:

Teaming up with Penn positions our more than 47 million Choice Privileges members to easily book a casino resort directly with Choice while continuing to earn points. Plus, there are more than 1,500 Choice-branded hotels within an hours drive of one of Penns casinos, racetracks or sports betting locations, so Penn loyalty members will similarly have the chance to use their mycash on stays at Choice-branded hotels across the country. Penn will also benefit from our award-winning global reservation system, which drives more than $9 billion in revenue to the 7,100 hotels in our system annually.

The agreement adds nearly 7,000 upscale rooms to Choice Hotels network as part of its related Ascend Hotel Collection.Members of both programs will enjoy the following features as the alliance is implemented in multiple phases this year:

Penn offers a variety of stay and play casino resorts for Choice Privileges members at the following properties:

Jamie Russo, vice president for loyalty programs and customer engagement at Choice Hotels, said:

Our new collaboration offers a great opportunity for Choice Privileges members to enjoy thrilling experiences at Penns properties around the country. Our research shows that not only do many of our Choice Privileges members already enjoy gaming, but a significant number live within driving distance from a Penn property so we know they will be excited to visit these top casino brands and be part of the action.

Jennifer Weissman, senior vice president and chief marketing officer for Penn National, added: Our guests will find a great deal of value in being able to visit destination hotels and resorts in the Choice Hotels portfolio.

Choice Privileges membership is free. The program is named a top hotel loyalty program by USA Todays 10 Best Readers Choice Awards and U.S. News & World Report.

For more information or to enroll, see Choice Privileges.

$PENN stock crossed the $100 a share threshold earlier this month and continues rolling. Thats an amazing turn-around for a stock that had dropped below $4 a share last March in the early stages of the COVID-19 pandemic.

The companys embrace of online betting during the pandemic, coupled with their 36% share of the Barstool Sports brand, which is rolling out across jurisdictions, appears responsible for the turnaround.

After launching the Barstool Sportsbook first in PA, the Barstool brand is now in Penn retail properties in Colorado, Michigan, and Indiana. The company wants it in every jurisdiction where they operate and where sports wagering is legal.

Penn National also has a Hollywood online casino in PA and recently, BetMGM launched an online casino and sportsbook under Penns PA gaming licenses.

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Eating Good: Penn Stock Hits New Highs as Gaming Company Allies with Choice Hotels - Play Pennsylvania