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 partnered with LEARFIELD to enhance its Choice Privileges loyalty program by offering exclusive college football experiences. Members can now redeem points for unique opportunities, including private stadium tours and sideline passes at eight universities. Additionally, a series of sweepstakes will allow fans to win tickets and hospitality access to games until September 27. This initiative targets the growing demand for memorable experiences among the program's 54 million members.
Choice Hotels International (NYSE: CHH) announced an increase in its share repurchase program by five million shares, bringing the total to approximately 6.7 million shares available for buyback. This decision reflects the company's confidence in driving shareholder value and utilizing capital effectively. The move is expected to have a positive impact on earnings per share (EPS) and overall investor sentiment.
Choice Hotels International (NYSE: CHH) announces the launch of Your Key to Profit, a free resource aimed at enhancing franchise owner profitability. Set to debut in Q4 2022, this mobile-friendly platform consolidates vital profitability tools, including benchmarking resources and revenue management tools, directly accessible from choiceADVANTAGE. Emphasizing the company's commitment to franchisee success, the initiative is designed to help owners reduce ownership costs and improve profitability, contributing to an industry-leading franchisee retention rate.
Choice Hotels International (NYSE: CHH) celebrates National Waffle Day with its #ComfortSaysThanks campaign, honoring hometown heroes. Nearly 100 Comfort Hotels will provide free waffles to community service groups throughout August. The brand also donates waffle kits to local organizations and runs a sweepstakes for customers to win their own kit. This campaign reflects Comfort's commitment to community support and enhancing guest experiences. Following a multiyear transformation, Comfort aims to deliver updated accommodations and amenities at over 2,100 hotels globally.
Choice Hotels International (NYSE: CHH) has been awarded a gold ranking, placing fourth in the 2022 LearningElite Awards, recognizing its Choice University learning platform for its exceptional workforce development efforts. The awards highlight organizations that employ effective strategies that yield significant business results. Additionally, Choice Hotels received the Editor's Choice Award for Best Small Company. This recognition underscores the importance of learning in achieving organizational success, as stated by company officials.
Choice Hotels International (NYSE: CHH) has appointed Noha Abdalla as Chief Marketing Officer, enhancing its guest experience strategy. Abdalla, with over 20 years of experience, previously served as CMO at MyEyeDr. and held senior roles at Hilton and Capital One. Reporting to CEO Patrick Pacious, she will oversee marketing and communications while developing a future technology roadmap. The appointment aligns with Choice's strategy to adapt to evolving consumer preferences and drive growth.
Choice Hotels International (NYSE: CHH) launches the Choice Direct Pay program, optimizing the booking and billing processes for corporate travelers across its over 5,000 properties.
This innovative solution enables consolidated invoicing, allowing corporate clients to manage all stays through a single payment. Key features include invoice management via a dedicated portal, departmental billing options, and access to established corporate rates. The initiative reflects Choice Hotels' commitment to enhancing corporate travel experience and streamlining operations.
Choice Hotels International, Inc. (NYSE: CHH) has successfully acquired the franchise operations and intellectual property of Radisson Hotels Americas for approximately $675 million. This acquisition includes 67,000 rooms and adds nine brands, such as Radisson Blu and Country Inn & Suites, enhancing Choice's portfolio in the upscale segments, particularly in the U.S. West Coast and Midwest. The transaction aims to bolster Choice Hotels' market presence without impacting its current capital allocation strategy related to dividends and share repurchases.
Choice Hotels International, Inc. (NYSE: CHH) has expanded its presence in California with the opening of the largest MainStay Suites hotel in Santa Ana. This new 176-room property marks the brand's debut in the greater Los Angeles area. Additional MainStay Suites are planned in Beaumont, Fresno, Rancho Mirage, Oceanside, Riverside, and Victorville. Designed for extended stays, the hotel features apartment-style suites and various amenities. Choice Hotels continues to lead in the extended stay segment with over 70 MainStay locations and 140 more in development.
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