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) has released its 2022 Environmental, Social, and Governance (ESG) Report, outlining significant initiatives aimed at reducing utility costs and enhancing sustainability. The report highlights the 'Commitment to Green' initiative, which offers training and resources for hotel owners, and for the first time, it reports Scope 1 and 2 greenhouse gas emissions. Key goals include a 50% representation of women in senior leadership by 2025 and a $25 million commitment to minority and women owners. Additionally, the Radisson Blu Mall of America has become the first hotel to implement CarbinX carbon-capture technology.
CenterPoint Energy (NYSE: CNP) and Radisson Blu Mall of America, part of Choice Hotels (NYSE: CHH), have launched a pioneering carbon-capture technology, CarbinX, in the first hotel globally to adopt such innovation. This installation, part of CenterPoint Energy's cleaner energy initiative, captures CO2 from natural gas heating, converting it into a non-toxic carbonate powder. The CarbinX unit enhances energy efficiency and is expected to lower energy costs for Radisson Blu. The pilot program includes 10 commercial clients in Minnesota, aiming to promote sustainable energy solutions amidst increasing climate concerns.
CenterPoint Energy and Radisson Blu Mall of America have partnered to install the world’s first CarbinX carbon-capture technology unit at the hotel, aimed at reducing greenhouse gas emissions. This initiative is part of a pilot program for CenterPoint Energy, Minnesota's largest natural gas utility, exploring cleaner energy technologies. The CarbinX unit captures CO2 emissions and converts them into nontoxic pearl ash, which is recyclable and used in various commercial products. The Radisson Blu is also expected to see energy bill reductions through improved efficiency. This technology is a key part of the company's commitment to sustainability.
Choice Hotels International (NYSE: CHH) has launched a new multichannel marketing campaign titled "Where Travels Come True" featuring Zooey Deschanel as the Fairy Travel Mother. The initiative aims to simplify the hotel booking process, addressing consumers' struggles with analysis paralysis from excessive online options. With the tagline emphasizing direct booking through ChoiceHotels.com, the campaign stresses the best price guarantee and a wide variety of hotel options. Highlighting brands like Cambria Hotels and Comfort, the campaign runs across various media platforms, including social media and TV, promoting a stress-free travel experience.
On March 20, 2023, Choice Hotels (NYSE: CHH) launched the HERtels by Choice Development Seminar, gathering nearly 40 franchise owners and associates to promote diversity in hotel ownership. This inaugural event, celebrating Women's History Month, focused on empowering women entrepreneurs facing barriers in the hospitality industry. Keynote speaker Dia Simms highlighted the importance of equity in hotel ownership. The HERtels program, initiated in 2021, has awarded over 50 contracts to women, providing training, mentorship, and networking opportunities to underrepresented groups. Choice Hotels reinforces its commitment to supporting diverse ownership within the hospitality sector.
Choice Hotels International (NYSE: CHH) has announced a 21% increase in its quarterly cash dividend, raising it from
Choice Hotels International, Inc. (NYSE: CHH) reported record performance for 2022, with total revenues of $1.4 billion, a 31% increase from 2021. Net income for the year reached $332.2 million, a 15% rise compared to the previous year. Adjusted EBITDA surpassed 2019 levels by 28%, totaling $478.6 million. Domestic revenue per available room (RevPAR) increased 20.4% in Q4 2022 against 2019, outperforming the industry. The acquisition of Radisson Hotels Americas added $104.2 million in revenue. The company awarded 590 domestic franchise agreements in 2022, reflecting an 11% increase from the prior year and showing strong growth potential for the future.
Choice Hotels International (NYSE: CHH) has partnered with Wells Fargo and Mastercard to launch a cobranded credit card program, set to debut in spring 2023. Existing cardmembers will transition to the new program in May 2023, benefiting from enhanced rewards, including 5x points on stays at participating hotels, and additional features like automatic Gold Elite Membership. The card aims to simplify point accumulation for rewards redeemable at over 7,500 hotels across various brands. This initiative is expected to attract more customers and enhance loyalty within the Choice Privileges program.
Choice Hotels International (CHH) has enhanced its loyalty programs by allowing members to exchange points between Choice Privileges and Radisson Rewards Americas. Effective January 31, 2023, members can convert two Radisson Rewards points for one Choice Privileges point, facilitating greater flexibility for booking stays at over 7,500 properties worldwide. This update reflects the company’s dedication to adding value for its 66 million combined members. Key benefits include access to exclusive member-only rates, the ability to redeem points for gift cards, and experiences in college sports. The program aims to elevate customer satisfaction and retention.
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