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 declared a cash dividend of $0.2375 per share on its common stock. The dividend is scheduled for payment on July 14, 2022, to shareholders of record as of July 1, 2022. This announcement reflects the company's ongoing commitment to return value to its shareholders amidst its extensive portfolio of nearly 7,000 hotels across 35 countries.
Choice Hotels International (NYSE: CHH) expands its Ascend Hotel Collection by adding three new properties in Port Washington, Wisconsin; Newburgh, New York; and Tulsa, Oklahoma. The hotels are strategically located near metropolitan areas and are operated by experienced franchise owners. The diverse locations cater to evolving travel preferences, offering unique experiences to guests. Ascend’s portfolio now includes over 315 properties globally, maintaining its status as the largest soft brand in the hotel industry. The brand continues to attract both new and existing franchisees, enhancing its market presence.
Choice Hotels International (NYSE: CHH) reported impressive first-quarter results for 2022, with domestic RevPAR up 10.4% compared to 2019 levels, driven by a 9.3% increase in average daily rates and improved occupancy rates. Total revenues soared 41% to $257.7 million year-over-year, while net income jumped 200% to $67.4 million, resulting in diluted EPS of $1.20. The company awarded 93 new domestic franchise agreements, a 4% increase, and plans further growth in its extended-stay segment. With a robust liquidity position of $1.13 billion, Choice Hotels is well-positioned for continued expansion.
Choice Hotels International (NYSE: CHH) is expanding its emerging markets development program with the launch of HERtels by Choice, aimed at increasing female ownership in the hospitality industry. This initiative offers financing support, dedicated training, and personalized mentoring for women entrepreneurs aspiring to own hotels. According to a report, there is a significant gender disparity in hotel investment, with only one woman for every nine men in the field. Since March 2022, Choice has awarded 25 contracts to women as part of this focused effort.
Choice Hotels International, Inc. (NYSE: CHH) commenced its 66th annual convention in Las Vegas, gathering over 5,000 hotel owners and staff. The event, themed 'GO', focuses on franchisee resilience and the company's future vision. Key achievements include surpassing 2019 performance levels and strategic investments to adapt to consumer trends in leisure travel. Attendees will gain insights on marketing, revenue management improvements, and sustainability initiatives. CEO Patrick Pacious highlighted the commitment to franchisee success and the company's readiness for growth.
Choice Hotels International (NYSE: CHH) announced the appointment of Jacquelyn Peterson and Marcus Thomas as new franchise development directors for its emerging markets team. The duo brings over 30 years of combined hospitality experience. Their focus will be on enhancing hotel ownership opportunities for underrepresented communities. Since forming an emerging markets-focused team, Choice has supported over 300 franchise agreements with minority entrepreneurs, including nearly 30 contracts last year. The company emphasizes its commitment to diversity in the hospitality industry.
Choice Hotels International (NYSE: CHH) has signed two franchise agreements for MainStay Suites with Gulf Coast Hotel Management, the largest privately owned extended stay franchisee in the Choice system. These additions, located in Wichita and Overland Park, enhance the brand's presence in the midscale extended stay market. With a total of 39 hotels, Gulf Coast is poised to capitalize on the increasing demand for extended stay properties, showcasing the strategic foresight of franchisees in this sector.
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