Welcome to our dedicated page for Choice Hotels Intnl. news (Ticker: CHH), a resource for investors and traders seeking the latest updates and insights on Choice Hotels Intnl. 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 (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.
Choice Hotels International (NYSE: CHH) celebrates the 15th anniversary of the Ascend Hotel Collection, a pioneering soft brand that enables independent hotels to leverage Choice's extensive marketing and distribution networks. Since its inception in 2008, the Ascend Collection has grown to over 330 hotels worldwide, appealing to both owners and modern travelers. It allows independent operators to maintain their unique identities while accessing advanced tools like choiceADVANTAGE and ChoiceMAX. In 2021, Ascend outperformed the Upscale Chain Scale in RevPAR by 26 percentage points compared to 2019. This growth demonstrates Choice Hotels' commitment to innovation and flexibility, particularly as independent hotels face economic challenges. For more information, visit: www.choicehotels.com/ascend.
Wellness-focused hotel brand Sleep Inn has partnered with AllTrails to enhance guest experiences with personalized nature exploration options. Starting April 20, 2023, guests at participating hotels can access curated local trail information via QR codes in lobbies, and enjoy a free month of AllTrails+ premium services. With over 550 Sleep Inn locations, this collaboration aligns with the growing trend of leisure travelers prioritizing wellness amenities. The initiative features various trails like the Cougar and Alice Knight Loop and Memorial Causeway Trail, catering to adventure-seekers. Additionally, Sleep Inn enhances guest experiences with nature-inspired designs and complimentary wellness resources, marking a strategic move by Choice Hotels (NYSE: CHH) to broaden its market appeal.
Choice Hotels International (NYSE: CHH) announces the launch of the Choice Privileges Select Mastercard, a premium credit card designed for travelers looking to maximize their rewards. Starting today, consumers can apply for this card with a $95 annual fee and receive 90,000 points after spending $3,000 in the first three months, plus the annual fee waived for the first year. The card offers 10X points on stays at participating Choice Hotels and 5X points on everyday purchases at select retailers. Additionally, a cardholder earns 30,000 points annually. This card complements the previously announced Choice Privileges Mastercard with no annual fee, featuring 60,000 points for a $1,000 spend. Both cards reflect Choice Hotels' aim to enhance customer loyalty and travel rewards.
Choice Hotels International (NYSE: CHH) plans to report its 2023 first quarter earnings on May 9, 2023, at 6:30 a.m. EDT. Following the earnings release, a conference call will be held at 10 a.m. EDT, featuring CEO Patrick Pacious and CFO Dominic Dragisich discussing the company's performance. The teleconference can be accessed domestically at (888) 886-7786 and internationally at (416) 764-8658 using conference ID 35347099. A live webcast will also be available on the company's investor relations website. The recorded call will be accessible for replay by 2 p.m. EDT on the same day. Choice Hotels is recognized as a leading lodging franchisor, operating nearly 7,500 hotels with around 630,000 rooms across 47 countries.
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