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, 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.
Choice Hotels International (NYSE: CHH) has announced the recipients of its Your Community, Your Choice grant program, doubling its contribution to $50,000 this year. Ten award-winning hotels will each receive $5,000 to enhance community initiatives or launch new projects. The program supports hotel owners who positively impact local communities. Recipients include hotels in Louisiana, Michigan, California, and more, each dedicated to various social causes such as food insecurity and educational support. This initiative reflects Choice Hotels' commitment to local businesses and community service.
Choice Hotels International (NYSE: CHH) has partnered with Circus Circus Hotel & Casino in Las Vegas, enhancing its Ascend Hotel Collection. This strategic agreement allows Choice Privileges loyalty members to earn and redeem points when booking at Circus Circus, one of the largest family-friendly resorts in Las Vegas. The collaboration adds over 3,700 rooms to Choice’s inventory, tapping into its extensive global reservation system. By offering guests access to diverse accommodations and attractions, this initiative aims to deliver exceptional value and enhance the guest experience.
Choice Hotels International (NYSE: CHH) has appointed Megan Brumagim as the vice president of environmental, social, and governance (ESG). In this role, she will lead the company's sustainability efforts, focusing on human rights, diversity, and philanthropic engagement. Brumagim has a strong background, having joined Choice in 2015 and previously held various leadership positions. Her appointment aims to enhance the company's ESG initiatives and align with key stakeholders, furthering existing community service and sustainability programs.
Choice Hotels International (NYSE: CHH) has launched ChoiceMax, a mobile-first revenue management solution developed in partnership with IDeaS, aimed at enhancing revenue growth for its global network of over 7,000 hotels. This innovative tool adapts to market changes using real-time data and has shown an acceptance rate of 93% for its pricing recommendations among franchisees. The rollout promises a downtime-free implementation and aims to maximize RevPAR and ROI, helping franchisees to focus on operational efficiency amidst industry challenges.
Choice Hotels International (NYSE: CHH) will announce its first quarter earnings for 2022 on May 10, 2022, before the market opens. A teleconference is scheduled for 10:30 a.m. Eastern Time, featuring insights from CEO Patrick Pacious and CFO Dominic Dragisich. Participants can dial (888) 349-0087 domestically or (412) 317-5259 internationally. The call will be available for replay on the investor relations website by 3 p.m. Eastern Time the same day. Choice Hotels operates over 7,000 hotels worldwide, offering a range of lodging options.
Choice Hotels International (NYSE: CHH) has opened the Cambria Hotel Austin Airport, marking its sixth property in Texas. This 127-room hotel is strategically located near Austin Bergstrom International Airport and is designed for modern travelers with upscale amenities. The hotel aims to cater to both business and leisure guests, reflecting Austin's unique culture. Following successful openings in other cities, the company plans to debut another hotel in downtown Austin in summer 2023. Cambria Hotels currently boasts nearly 60 properties across the U.S. with over 70 more in development.
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