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.
Cambria Hotels, a brand of Choice Hotels International (NYSE: CHH), has secured 10 new franchise agreements aimed at expanding its presence in attractive secondary and leisure markets. The agreements support the new cost-efficient Cambria prototype which balances upscale design with operational efficiency. Recently, the brand marked four groundbreakings in under ten days, showcasing robust growth despite rising interest rates and construction costs. Additionally, the number of domestic franchise agreements awarded in Q1 2022 has more than doubled from the previous year, indicating strong market demand.
Choice Hotels International (NYSE: CHH) has launched a summer promotion for its loyalty program, Choice Privileges. From now until August 1, 2022, members can earn a $50 gift or reward card after completing two qualifying stays at participating hotels. This initiative aims to enhance travel experiences by providing members with easy-to-earn perks on their trips. Choice Privileges membership is free and offers various rewards, including bonus points and exclusive benefits. The promotion encourages travelers to book directly through ChoiceHotels.com or the mobile app.
Choice Hotels International (NYSE: CHH) has officially started construction on the Cambria Hotel Rehoboth Beach in Delaware, set to open in spring 2024. This four-story, 114-room hotel will be the brand's inaugural property in Delaware, enhancing Cambria's footprint across major U.S. markets. The hotel will feature modern amenities, including pools and meeting spaces, while catering to the tourism-driven Delmarva Peninsula. Choice Hotels continues to expand, with 60 Cambria hotels currently open and nearly 70 in the pipeline, reflecting a strong growth trajectory.
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.
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