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Choice Hotels (NYSE: CHH) announced that its board of directors has approved a quarterly cash dividend of $0.2875 per share on its common stock.
The dividend will be payable on July 16, 2024, to shareholders recorded by July 1, 2024.
Choice Hotels, a leading lodging franchisor with nearly 7,500 hotels across 45 countries, continues to drive value for franchise owners and shareholders through its diverse portfolio of 22 brands, ranging from upscale to economy.
The company also offers the Choice Privileges rewards program and co-brand credit card options for personalized perks.
Oracle Hospitality has signed an agreement with Choice Hotels International to offer its AI-powered Oracle Nor1 merchandising solution to Choice's portfolio of upscale hotels. This tool aims to increase revenue through targeted upselling, enhancing guest experiences via their mobile app and digital marketing channels. Properties using Nor1 eStandby Upgrade have seen a 17% increase in upsell revenue per transaction over booked rates. The solution will be available across Choice's upscale hotels, including Radisson Blu and Cambria, regardless of the existing property management system. This partnership aims to provide personalized guest experiences, leading to increased satisfaction and loyalty.
Choice Hotels International, Inc. announced the opening of Everhome Suites in Nampa, Idaho, marking the midscale extended stay brand's third opening. The property is anticipated to meet hotel demand resulting from the booming commercial development and population growth in the Boise area. With over 60 Everhome Suites in development, Choice Hotels continues its growth in the extended stay segment. The Nampa hotel incorporates local community touches and local food offerings. Choice Hotels also announced a future pipeline of more than 400 extended stay properties across four brands.
Choice Hotels International concluded its 68th Annual Convention in Las Vegas, NV, one of the largest to date. The event featured the relaunch of Park Inn by Radisson, the reintroduction of the SOAR program for hotel ownership opportunities, and awards for top-performing hotels. Choice expressed optimism about future growth and celebrated owners' success.
Choice Hotels International, Inc. reported its first quarter 2024 results, with net income at $31.0 million and adjusted diluted EPS at $1.28, marking a 9% increase from 2023. The company repurchased $196.6 million of common stock year-to-date and relaunched Park Inn by Radisson. The global pipeline increased by 10% to over 115,000 rooms, and the company increased its guidance for diluted EPS for full-year 2024.
Choice Hotels International, Inc. announced the relaunch of Park Inn by Radisson as part of their strategy with the acquisition of Radisson Hotels Americas. The brand will be repositioned into the premium value conversion space targeting younger, value-conscious travelers. Park Inn by Radisson aims to deliver a unique guest experience focusing on color, connectivity, and convenience. The first relaunched property will be in San Antonio, Texas, with plans for domestic expansion. The brand will offer 'brighter basics' such as colorful decor, fast Wi-Fi, and grab & go breakfast items. Choice Hotels provides franchisee support and access to global reservation channels for improved digital traffic and bookings.
Choice Hotels International held its 68th annual convention in Las Vegas, showcasing its strong competitive position and plans for growth. With over 6,600 registrants and 1,100 exhibitors, the event focused on driving success for owners and operators in the travel industry. The company highlighted its recent growth, technology advancements, and strategic investments for future revenue generation.
Choice Hotels International, Inc. hosted a seminar called SOAR to support underrepresented entrepreneurs in hotel ownership, reaffirming its commitment to inclusivity. The company introduced a program to create opportunities for minority entrepreneurs, including black, Hispanic, native Americans, women, and veterans. Choice Hotels also highlighted its HERtels program empowering female entrepreneurs. The event featured discussions, a Q&A session with a former NFL player, and networking opportunities.
