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 opened the Cambria Hotel Savannah Downtown Historic District, marking its first property in Georgia. Located in Savannah's National Historic Landmark District, the six-story hotel features 101 rooms and provides easy access to popular attractions and local employers. The hotel boasts modern amenities, including upscale rooms, spa-style bathrooms, and a state-of-the-art fitness center. As of September 30, 2022, Choice Hotels has over 60 Cambria locations in the U.S. and plans for nearly 70 more.
Choice Hotels International (NYSE: CHH) has announced the groundbreaking of a new WoodSpring Suites hotel in Corona, Southern California. This 122-room extended stay property is set to open in late 2023, expanding Choice's footprint in California. The hotel will feature smoke-free rooms with kitchen amenities, a 24-hour fitness center, and complimentary amenities for guests. The development is part of a broader strategy that includes multiple new properties, aiming to meet the rising demand for extended stay accommodations across the U.S.
Choice Hotels International (NYSE: CHH) has appointed Sally Bartas as the new chief talent and culture officer. This position aims to enhance the company's talent management initiatives and HR strategies, including diversity and inclusion programs. Bartas joins from Stanley Black & Decker, where she held senior HR roles. The appointment follows awards for Choice Hotels' culture, including recognition from Forbes as one of the Best Employers for Veterans 2022. As of September 30, 2022, Choice Hotels operates nearly 7,500 hotels worldwide, supporting a robust corporate growth strategy.
The Ascend Hotel Collection, part of Choice Hotels International (NYSE: CHH), expands with the addition of The Windsor Hotel in Americus, Georgia. This historic boutique hotel, originally built in 1892, has undergone a multi-year transformation and is now equipped with luxurious amenities, including a fitness center and on-site dining options. The partnership with Edgewater Group LLC highlights the brand's success in attracting growth-minded franchise owners. Ascend's unique offerings aim to provide authentic guest experiences while enhancing its global portfolio.
Choice Hotels International (CHH) has declared a cash dividend of $0.2375 per share on its common stock. This dividend is set to be paid on January 17, 2023, to stockholders on record as of January 3, 2023. As of September 30, 2022, Choice Hotels operates nearly 7,500 hotels across 46 countries, providing a diverse range of lodging options. This announcement underscores the company's commitment to returning value to its shareholders.
Choice Hotels International (NYSE: CHH) has announced the groundbreaking of the Everhome Suites in Nampa, Idaho, enhancing its extended stay portfolio. This development comes after a successful quarter, with over 50 hotels in the Everhome brand pipeline since its 2020 launch. The four-story, 122-room facility is set to open in late 2023, catering to longer-staying guests with modern amenities. This strategic investment aims to meet rising demand and enhance its presence in key markets, reinforcing Choice's position in the extended stay segment.
Choice Hotels International (NYSE: CHH) has expanded its upscale brand by opening the Cambria Hotel Minneapolis Downtown, the third Cambria location in the Twin Cities. This new 121-room hotel is strategically located in the heart of Minneapolis, close to restaurants, breweries, and attractions like the U.S. Bank Stadium. The hotel offers modern amenities tailored for both leisure and business travelers. With over 60 Cambria hotels in the U.S. and nearly 70 more in development, the brand aims to enhance its presence in key urban centers.
Choice Hotels International (NYSE: CHH) has signed an agreement with Noble Investment Group to develop nine new WoodSpring Suites hotels in Georgia and South Carolina within the next two years. This expansion signals increased institutional interest in the economy extended-stay segment, where Choice Hotels is a leader. WoodSpring Suites offers fully equipped suites designed for longer stays, including kitchens and laundry facilities. As of September 30, 2022, Choice Hotels has over 200 open WoodSpring locations and 205 more in the pipeline, positioning itself for further growth in the hospitality market.
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