Welcome to our dedicated page for Choice Hotels International news (Ticker: $CHH), a resource for investors and traders seeking the latest updates and insights on Choice Hotels International stock.
Choice Hotels International, Inc. (NYSE: CHH), stands as a global leader in the hospitality industry, with its extensive portfolio featuring over 7,500 hotels and 630,000 rooms across 46 countries and territories. Its diverse range of 22 brands caters to a broad spectrum of travelers, from full-service upper upscale properties to midscale, extended stay, and economy options.
Core Business: Choice Hotels primarily operates through a franchise model, generating 100% of its revenue from franchise fees. The U.S. market represents 79% of its total rooms. Key brands under its umbrella include Comfort Inn, Comfort Suites, Ascend, and Cambria, which together account for over one-third of the company's domestic rooms.
Recent Achievements and Projects: Recently, Choice Hotels has made significant strides in expanding its portfolio and enhancing its technological capabilities. The acquisition of Radisson Hotels Americas in August 2022 added around 70,000 rooms, boosting its presence in the upscale market. The company also launched the Comfort Rise & Shine prototype, further solidifying its leadership in the upper midscale segment.
Choice Hotels has a history of leveraging technology to enhance guest experiences and streamline operations for franchisors. Sireesha Kunduri's recent promotion to Chief of Product Engineering underscores their commitment to technological innovation aimed at delivering better value to hotel owners and guests.
Partnerships and Campaigns: To connect with younger travelers, Choice has partnered with influencer Jimmy Darts, reaching his vast social media audience. This initiative supports its latest marketing campaign, 'A Stay for Any You,' aiming to highlight its diverse brand offerings.
Financial Condition: As of the first quarter of 2024, Choice Hotels reported an increase in adjusted EBITDA and EPS by 17% and 14%, respectively. The company’s strong performance is attributed to synergies from the Radisson acquisition and strategic expansion projects. It continues to reward shareholders through dividends and stock repurchase programs.
Commitment to Diversity: The SOAR program, which promotes hotel ownership among underrepresented entrepreneurs, has awarded over 370 franchise agreements to diverse participants. Programs like HERtels further empower female entrepreneurs, reflecting Choice's long-standing commitment to diversity and inclusion.
Extended Stay Leadership: Choice Hotels is a front-runner in the extended stay segment, with brands such as Everhome Suites. The recent openings and groundbreakings in key markets highlight the brand’s rapid growth, driven by a robust pipeline and strategic collaborations with developers like Highside Companies.
Overall, Choice Hotels International continues to excel through a combination of strategic acquisitions, innovative technology, and strong franchisee support, maintaining its position as a significant player in the global hospitality industry.
Choice Hotels International announced the pricing of $600 million in senior notes through an underwritten, registered public offering. The notes, maturing on August 1, 2034, will bear an interest rate of 5.850% and be issued at 98.929% of par value. The proceeds will mainly repay a $500 million unsecured term loan, with remaining funds for general corporate purposes. The offering, expected to close by July 2, 2024, is under an automatic shelf registration statement filed with the SEC. The joint book-running managers for the offering include Wells Fargo Securities, BofA Securities, Goldman Sachs, and Truist Securities.
Choice Hotels International (NYSE: CHH) has opened a new Everhome Suites in Lexington, Kentucky, marking its fourth operational Everhome Suites. The company boasts over 60 Everhome Suites in development and 20 currently under construction, with more than 10 expected to open within the next year. As of Q1 2024, Choice Hotels has a pipeline of over 400 properties across its four extended stay brands. The Everhome Suites Lexington North, developed by New Circle Investments and managed by H&W Hotels, features 114 rooms and offers amenities like fully equipped kitchens, spa-style bathrooms, and free Wi-Fi. Choice Hotels' extended stay portfolio grew by 17.4% from March 31, 2023, to March 31, 2024.
Choice Hotels International, a leading lodging franchisor, is expanding its Everhome Suites brand with three new locations in Portsmouth, NH; Rochester, NY; and Somerset, NJ, in collaboration with Highside Companies. These properties, part of the company's extended stay category, cater to both business and leisure travelers. Choice currently has nearly 480 extended stay hotels open and over 400 in the pipeline. The new locations are strategically placed near major business hubs and hospitals, enhancing their appeal. Opening dates range from summer 2025 to fall 2025. Everhome Suites offers amenities such as fully equipped kitchens, spa-style bathrooms, and a range of communal facilities. Choice's expansion underscores its commitment to growth in high-barrier-to-entry markets.
Choice Hotels International (NYSE: CHH) has revealed top hotel recommendations from its associates for the upcoming summer travel season. With an expected 43.8 million Americans traveling over Memorial Day weekend, Choice Hotels, offering over 7,000 properties, is strategically positioned. Notable recommendations include Comfort Suites Gatlinburg, Sleep Inn & Suites Chiloquin, and Radisson Blu Aruba. Choice's diverse portfolio ranges from upscale to economy hotels, and members can earn points through stays and co-branded credit cards. For more details, visit ChoiceHotels.com.
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.
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