Choice Hotels International kicks-off its 67th Annual Convention after a tremendous year
Choice Hotels International (NYSE: CHH) commenced its 67th annual convention in Las Vegas with over 6,000 attendees, marking a significant gathering for hotel owners and industry leaders. The event highlights the company's growth trajectory following the acquisition of Radisson Hotels Americas, with a strategic focus on upscale market segments. CEO Patrick Pacious emphasized the company's strong market position and its franchisees' ability to leverage travel trends, particularly through proprietary tools like choiceADVANTAGE and ChoiceMAX. The convention features extensive educational sessions and showcases new marketing efforts, including partnerships and sustainable practices. This strategic direction aims to enhance profitability and capitalize on rising consumer travel demand driven by economic changes.
- Acquisition of Radisson Hotels Americas strengthens market position.
- Franchisees have tools like choiceADVANTAGE and ChoiceMAX to enhance operations and profit.
- Strong attendance at the convention indicates robust franchisee engagement and support.
- CEO highlights superior performance of new hotels compared to exited ones, indicating effective business strategy.
- Focus on upscale market segments and innovation aligns with travel demand trends.
- None.
The three-day event showcases how franchisees, by focusing on the guest, can fully harness travel trends and Choice's industry-leading systems to help drive results
ROCKVILLE, Md., April 26, 2023 /PRNewswire/ -- Yesterday, Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, kicked off its 67th annual convention in Las Vegas with more than 6,000 hotel owners, general managers, vendors and Choice associates in attendance.
The convention comes on the heels of a landmark 2022 for Choice, with step-function growth bolstered by the acquisition of Radisson Hotels Americas. The company continues to solidify its moves upmarket into the upscale and upper upscale segments, creating more opportunity for franchise owners to capture higher-income consumers.
The three-day conference is designed to showcase the ways Choice franchisees will remain "unstoppable" as the company continues to be the challenger within the upscale market while bolstering its leadership position in extended stay, midscale and economy hotels.
Choice Hotels President and CEO Patrick Pacious opened the convention with a keynote address highlighting the company's favorable position in the current high-travel environment.
"The entire industry sees us differently," Pacious told Choice Hotels franchisees at the Corporate Business Session. "We are now the challenger in upscale, we own extended stay, and we keep stealing share in midscale and upper midscale… For two straight years, the new hotels we've brought in are, on average, performing at twice the revenue of the hotels that we've exited. Our model is different. We're not chasing growth at all costs. Our entire system is getting better together."
Throughout the week, keynote speeches, educational sessions, brand sessions, a trade show and more will help franchisees harness the value that Choice is creating at an enterprise level, understand key travel trends and position themselves to harness the value of the Choice system amid an uptick in travel.
Choice provides franchisees with the tools they need to succeed, offering all 22 brands a suite of proprietary cutting-edge cloud-based solutions, including the choiceADVANTAGE property management system, the choiceEDGE guest reservation platform, and ChoiceMAX, a mobile-friendly revenue management tool that continuously adapts to changes in the market using real-time data. Additionally, the award-winning Choice University educational platform delivers customized and always evolving learning and development resources.
As Choice's portfolio moves upmarket amid a resurgence in travel, the company is prioritizing innovative programs, amenities and loyalty opportunities, including the introduction of a new Choice Privileges Select Mastercard earlier this month and the launch last month of a national multichannel marketing campaign starring award-winning actress and multi-hyphenate entertainer Zooey Deschanel. The company also continues to integrate sustainable business practices, including the implementation of programs like Commitment to Green and Room to be Green.
Pacious emphasized to Choice franchisees that their properties are particularly well-positioned to capitalize on what he called the "5 R's" now driving an increase in travel demand.
"Rising wages, retirements, remote work, road trips, and rebuilding America," Pacious said. "The Choice brands and your hotels are in the sweet spot for all of these trends... At Choice, we've always been united by our shared belief that tomorrow will be even better than today. Together, we are going to build that better tomorrow."
About Choice Hotels®
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. A challenger in the upscale segment and a leader in midscale and extended stay, Choice® has nearly 7,500 hotels, representing almost 630,000 rooms, in 47 countries and territories. A diverse portfolio of 22 brands that run the gamut 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® loyalty 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 Statement
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our environmental, social and governance ambitions, goals, targets, initiatives, commitments and activities, as well as our future operations and long-term strategy. 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. 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. These and other risk factors are discussed in detail in the company's filings with the Securities and Exchange Commission (the SEC), including, but not limited to, our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. 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.
Addendum
This is not an offering. No offer or sale of a franchise will be made except by a Franchise Disclosure Document first filed and registered with applicable state authorities. A copy of the Franchise Disclosure Document can be obtained through contacting Choice Hotels International at 1 Choice Hotels Circle, Suite 400, Rockville, MD 20850, development@choicehotels.com.
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SOURCE Choice Hotels International, Inc.
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