Why not Argentina, Chile?
I don't think the ChoiceHotels sales force has made it to Argentina. It would be a good spring trip for them. There are none. I have to believe that DF Buenos Aires, at least, has many prospects. Also Chile.
(Somewhat OT - Central America isn't South America - I got to talking with a reservationist in Panama who noted the irony that, while they have a large ChoiceHotels call center there, in many ways Panama is still very American, and so there are many prospects, there are no ChoiceHotels there.)