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, 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.
Choice Hotels International, Inc. (NYSE: CHH) has announced the opening of the Cambria Hotel Austin Uptown Near the Domain, part of its upscale Cambria brand, located in Austin, Texas, a key area in the 'Silicon Hills' technology corridor. This 135-room hotel is the second of three planned properties in Austin, offering modern amenities like multi-purpose spaces, spa-style bathrooms, and an on-site dining option. Situated near major tech offices, this hotel caters to both business and leisure travelers. As of now, there are 65 Cambria hotels across the U.S., with nearly 70 additional hotels planned.
Choice Hotels (NYSE: CHH) expands its Ascend Hotel Collection by adding Circus Circus Hotel & Casino in Las Vegas, enhancing booking options for its 55 million Choice Privileges members. Following a landmark agreement, Circus Circus rooms are now directly bookable on ChoiceHotels.com. This family-friendly resort offers 3,700 rooms and unique amenities, including an indoor amusement park and award-winning dining. With Circus Circus, Choice Hotels now features over 6,500 rooms on the Las Vegas Strip, alongside more than 20 casino properties nationwide. The Ascend Hotel Collection has over 330 properties worldwide as of September 30, 2022.
Choice Hotels International (NYSE: CHH) has strategically expanded its portfolio, becoming a key player in the upscale and extended stay segments. Highlights include the opening of the first Everhome Suites and the 65th Cambria Hotel, alongside the launch of Suburban Studios and the acquisition of Radisson Hotels Americas. The company now operates 22 brands with nearly 7,500 hotels and 630,000 rooms worldwide. Cambria Hotels has signed 20 new agreements, while WoodSpring Suites has expanded its pipeline by 68% in 2022, reflecting growing demand for extended stay options.
Choice Hotels International (NYSE: CHH) will announce its 2022 fourth quarter and full-year earnings results before the market opens on February 15, 2023. A conference call is scheduled for 10 a.m. EST, led by CEO Patrick Pacious and CFO Dominic Dragisich, to discuss the company's performance. Investors can join the call by dialing (888) 886-7786 for domestic or (416) 764-8658 for international access, using conference ID 21655006. The call will also be available via a live webcast on the investor relations website. A replay will be accessible by 2 p.m. EST on February 15, 2023.
Choice Hotels International, Inc. (NYSE: CHH) CEO Patrick Pacious has been named one of the highest-rated CEOs for the fourth consecutive year by Comparably. This accolade reflects the company's strategic growth, including the successful transformation of brands like Comfort and the acquisition of Radisson Hotels Americas. Pacious emphasized the strength of Choice's team and its support for over 13,000 franchise owners. Under his leadership, Choice became the first hotel company to exceed pre-pandemic performance, showcasing its resilience and commitment to innovation.
Choice Hotels International (NYSE:CHH) has signed a franchise agreement with The Brittano Group, Inc. to develop The Rook Hotels, a new member of the Ascend Hotel Collection in South Boston, Virginia. This hotel will feature 37 rooms, a rooftop bar, and a full-service restaurant, and is expected to open in summer 2024. This agreement is significant as it marks the first hotel awarded through Choice's emerging markets franchise program, aimed at increasing diversity in the hospitality industry. The Brittano Group, owned by actor Julian Brittano and contractor Karie Brittano, aims to revitalize the local community.
Choice Hotels International (NYSE: CHH) has expanded its Safe Stays by ReloShare initiative by including Radisson Hotels Americas, increasing the number of hotels participating in the emergency lodging program for victims of violence to over 90% of its U.S. locations. Launched in February 2022, the platform facilitates anonymous bookings, helping social service agencies provide immediate housing for survivors. Additionally, as of January 10, 2023, more than 6,000 hotels within the Choice portfolio offer safe accommodations, contributing to efforts against domestic violence.
FAQ
What is the current stock price of Choice Hotels Intnl. (CHH)?
What is the market cap of Choice Hotels Intnl. (CHH)?
What is Choice Hotels International's core business model?
How many hotels does Choice Hotels operate?
What are the key brands under Choice Hotels?
What recent acquisitions has Choice Hotels made?
How does Choice Hotels leverage technology?
What is the Comfort Rise & Shine prototype?
What is the SOAR program?
What marketing initiatives has Choice Hotels recently launched?
What are Everhome Suites?
How does Choice Hotels support diversity in hotel ownership?
