Choice Hotels Announces Quarterly Cash Dividend

Rhea-AI Summary

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.

Positive

• Board approval of $0.2875 per share quarterly cash dividend.
• Dividend payable on July 16, 2024, a positive for shareholder returns.
• Diverse portfolio of 22 brands enhances market reach and business stability.
• Presence in nearly 7,500 hotels across 45 countries bolsters global footprint.
• Choice Privileges rewards program adds value and loyalty perks for members.

Negative

• No specific information provided on revenue or profit figures in the announcement.
• Potential lack of significant new business developments or expansions noted in PR.

Board Approves Dividend of $0.2875 Per Share on the Company's Common Stock 

NORTH BETHESDA, Md., May 15, 2024 /PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's leading lodging franchisors, announced that its board of directors has declared a cash dividend of $0.2875 per share on the company's common stock. The dividend is payable on July 16, 2024, to shareholders of record on July 1, 2024. 

About Choice Hotels®  
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. The challenger in upscale and a leader in midscale and extended stay, Choice® has nearly 7,500 hotels, representing more than 630,000 rooms, in 45 countries and territories. A diverse portfolio of 22 brands that range from full-service upper upscale properties to midscale, extended stay and economy enables Choice^® to meet travelers' needs in more places and for more occasions while driving more value for franchise owners and shareholders. The award-winning Choice Privileges® rewards program and co-brand credit card options provide members with a fast and easy way to earn reward nights and personalized perks. For more information, visit www.choicehotels.com.

Forward-Looking Statements  

Certain matters discussed in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Certain, but not necessarily all, of such forward-looking statements can be identified by the use of forward-looking terminology, such as "expect," " "estimate," "believe," "anticipate," "should," "will," "forecast," "plan," "project," "assume," or similar words of futurity. All statements other than historical facts are forward-looking statements. These forward-looking statements are based on management's current beliefs, assumptions, and expectations regarding future events, which, in turn, are based on information currently available to management. Such statements may relate to projections of the company's revenue, expenses, EBITDA, adjusted EBITDA, earnings, debt levels, ability to repay outstanding indebtedness, payment of dividends, repurchases of common stock and other financial and operational measures, including the company's occupancy and open hotels, RevPAR, and liquidity, among other matters. We caution you not to place undue reliance on any such forward-looking statements. Forward-looking statements do not guarantee future performance and involve known and unknown risks, uncertainties, and other factors.  

Several factors could cause actual results, performance or achievements of the company to differ materially from those expressed in or contemplated by the forward-looking statements. Such risks include, but are not limited to, changes to general, domestic and foreign economic conditions, including access to liquidity and capital; the company's ability to realize the anticipated long-term benefits and synergies of the acquisition of Radisson Hotels Americas as rapidly or to the extent anticipated; changes in consumer demand and confidence, including consumer discretionary spending and the demand for travel, transient and group business; the timing and amount of future dividends and share repurchases; future domestic or global outbreaks of epidemics, pandemics or contagious diseases or fear of such outbreaks, and the related impact on the global hospitality industry, particularly but not exclusively the U.S. travel market; changes in law and regulation applicable to the travel, lodging or franchising industries, including with respect to the status of the company's relationship with employees of our franchisees; foreign currency fluctuations; impairments or declines in the value of the company's assets; operating risks common in the travel, lodging or franchising industries; changes to the desirability of our brands as viewed by hotel operators and customers; changes to the terms or termination of our contracts with franchisees and our relationships with our franchisees; our ability to keep pace with improvements in technology utilized for marketing and reservations systems and other operating systems; our ability to grow our franchise system; exposure to risks related to our hotel development, financing and ownership activities; exposures to risks associated with our investments in new businesses; fluctuations in the supply and demand for hotel rooms; our ability to realize anticipated benefits from acquired businesses; impairments or losses relating to acquired businesses; the level of acceptance of alternative growth strategies we may implement; the impact of inflation; cyber security and data breach risks; climate change and sustainability related concerns; ownership and financing activities; hotel closures or financial difficulties of our franchisees; operating risks associated with our international operations; labor shortages; the outcome of litigation; and our ability to effectively manage our indebtedness,  and secure our indebtedness, including additional indebtedness incurred as a result of the acquisition of Radisson Hotels Americas. These and other risk factors are discussed in detail in the company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and, as applicable, our Quarter Reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.  

© 2024 Choice Hotels International, Inc. All Rights Reserved   

 

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SOURCE Choice Hotels International, Inc.

FAQ

What is the dividend per share declared by Choice Hotels (CHH) on May 15, 2024?

Choice Hotels declared a quarterly cash dividend of $0.2875 per share.

When is the dividend payment date for Choice Hotels' (CHH) recent dividend?

The dividend is payable on July 16, 2024.

What is the record date for Choice Hotels' (CHH) dividend announced on May 15, 2024?

The record date for the dividend is July 1, 2024.

How many hotels are part of Choice Hotels' (CHH) portfolio?

Choice Hotels has nearly 7,500 hotels.

In how many countries does Choice Hotels (CHH) operate?

Choice Hotels operates in 45 countries and territories.