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) reported a robust third quarter for 2022, with domestic RevPAR growth of 15.2% compared to 2019, outpacing the industry average. The company awarded 38% more domestic franchise agreements than a year earlier and reported revenues of $414.3 million, up 28% year-over-year. Net income stood at $103.1 million, equating to diluted EPS of $1.85. The acquisition of Radisson Hotels Americas for $674 million is expected to bolster future growth, enhancing EBITDA significantly by early 2024.
Cambria Hotels, a brand of Choice Hotels International (NYSE: CHH), unveiled the "Threads Collection," featuring destination-inspired socks designed by local artists from New England, South Carolina, and Arizona. This initiative aims to enhance the guest experience and promote local artistry. The first collection is showcased at select Cambria hotel locations, including Portland Downtown Old Port, Columbia Downtown The Vista, and Downtown Phoenix Convention Center. Cambria operates over 60 hotels across the U.S. and plans to add nearly 70 more.
Choice Hotels International, Inc. (NYSE: CHH) announces the opening of the first Cambria hotel in Maine, the Cambria Hotel Portland Downtown Old Port. This six-story hotel features 102 rooms and is strategically located near local attractions and key employers. The hotel focuses on upscale amenities, including multi-purpose spaces, locally inspired designs, and a celebrity-chef-curated menu. This expansion reflects Cambria's commitment to growth in markets with strong business and leisure demand.
Choice Hotels International (NYSE: CHH) is set to announce its 2022 third quarter earnings results on November 7, 2022, at 6 a.m. EST. Following this, a conference call will take place at 8:30 a.m. EST, featuring President and CEO Patrick Pacious and CFO Dominic Dragisich discussing the company's performance. The teleconference can be accessed by calling (888) 349-0087 domestically or (412) 317-5259 internationally. The call will be available for replay on the company's investor relations website.
Choice Hotels International (NYSE: CHH) announced the opening of the Cambria Hotel Manchester South Windsor, its second property in Connecticut, as part of its expansion strategy. This 108-room hotel, located near Hartford, offers modern amenities including a heated indoor pool and spa-style bathrooms. The brand plans further growth with upcoming openings in Austin, Texas, Portland, Maine, and Orlando, Florida. Currently, there are over 60 Cambria hotels across the U.S., with 70 more in the pipeline.
Choice Hotels International (NYSE: CHH) has launched its new extended stay brand, Everhome Suites, with the grand opening of its inaugural hotel in Corona, California. This new midscale product aims to meet the rising demand for longer-stay accommodations. The Everhome Suites Corona features 98 apartment-style rooms and is strategically located near major employers in the area. The brand is also poised for growth, with more than 30 hotels already in the pipeline across several states, highlighting Choice's leadership in the extended stay segment.
Cambria Hotels announces the opening of its first property in Connecticut, the Cambria Hotel New Haven University Area. This six-story hotel features 130 rooms and is strategically located near Yale University and various city attractions. The property expands the Cambria brand's footprint in top New England markets, which includes ongoing developments in Boston and Portland. With over 60 Cambria hotels currently open across the U.S., the brand aims to enhance its appeal to modern travelers.
Choice Hotels International (NYSE: CHH) has announced a cash dividend of $0.2375 per share, which will be paid on October 14, 2022. Stockholders must be on record by October 3, 2022 to qualify for this dividend. This decision reflects the company's commitment to returning value to its shareholders amidst recent growth, including the acquisition of Radisson Hotels Americas, which adds numerous new brands and rooms to its portfolio.
Choice Hotels International (NYSE: CHH) has partnered with ServiceStar Capital Management to develop 21 new Everhome Suites hotels across several states, including Colorado, Arizona, Utah, Nevada, and Florida. This significant initiative marks the largest investment in the Everhome brand to date, signaling robust growth potential in the extended stay sector. The first hotel is scheduled to open soon, with over 30 additional properties in the pipeline. Choice Hotels aims to leverage its expertise in midscale hospitality to cater to longer-staying guests with purpose-built accommodations.
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