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 announced the rebranding of its Suburban Extended Stay Hotel brand to Suburban Studios, enhancing its appeal in the economy extended stay market. This redesign features modern amenities aimed at providing a welcoming environment for longer-term guests. The brand aims to support hotel owners with a flexible conversion model and efficient operating strategies, addressing the increasing demand in the extended stay segment. Suburban Studios will first open in Chicago, Illinois, with 27 additional hotels in development.
Choice Hotels International (NYSE: CHH) has launched its Stay Twice This Spring, Get a Free Night promotion, effective until May 8, 2022. Members of the Choice Privileges loyalty program can earn a free night after completing two qualifying stays at participating hotels. The program aims to enhance value for over 52 million members, allowing them to enjoy rewards during their travels. For more details, members must register before checkout and book through official channels.
Choice Hotels International has celebrated the grand opening of the Cambria Hotel Louisville Downtown-Whiskey Row in Kentucky, marking its first entry into the state. The hotel is strategically located in the vibrant downtown area, offering 128 upscale rooms and various amenities, including a rooftop bar, spa-style bathrooms, and locally inspired dining. The opening event featured local dignitaries and highlighted the brand's commitment to expanding in key markets. With nearly 60 Cambria hotels currently in operation and over 70 planned, this expansion aligns with the brand's focus on modern, stylish accommodations.
Choice Hotels International (NYSE: CHH) reported strong growth in its extended stay portfolio, outpacing pre-pandemic performance in key metrics including RevPAR, average daily rate, and occupancy. In Q4 2021, the portfolio achieved a RevPAR increase of 24.7% compared to Q4 2019. WoodSpring Suites led with nearly 30% RevPAR growth. Franchise agreements rose by 27%, and future development remains robust with over 340 hotels in the pipeline. Choice's strategic focus on the extended stay segment continues to attract developer interest, highlighting resilience in uncertain market conditions.
Choice Hotels International's upscale brands, Ascend Hotel Collection and Cambria Hotels, saw significant growth in 2021, achieving domestic RevPAR index share gains over local competitors.
Both brands expanded their domestic hotel presence by 13%, with Ascend growing its unit count by 15% year-over-year and exceeding 2019 RevPAR levels by 14% in Q4.
Cambria achieved its strongest RevPAR growth in history, with over 12 percentage points gain compared to 2019, and plans to open over 10 new hotels in 2022.
Choice Hotels International (NYSE: CHH) declared a quarterly cash dividend of $0.2375 per share, payable on April 15, 2022, to shareholders of record on April 1, 2022. This announcement reflects the company's ongoing commitment to returning value to its shareholders. Choice Hotels operates over 7,000 hotels globally, offering diverse lodging options across various segments. The company emphasizes its flexibility and resilience in navigating economic challenges while maintaining a strong franchise model.
Choice Hotels International (NYSE: CHH) reported strong financial results for 2021, with net income reaching $289 million and record adjusted EBITDA of $403.6 million. Their RevPAR growth of 2.2% for the year exceeded guidance and outperformed the industry by 19 percentage points. The company awarded 528 domestic franchise agreements, a 24% increase from 2020, with a focus on upscale and extended-stay brands. The domestic effective royalty rate increased to 5.01%. For 2022, the company anticipates continued growth in RevPAR and adjusted EBITDA, reflecting a robust recovery in the travel sector.
FAQ
What is the current stock price of Choice Hotels Intnl. (CHH)?
What is the market cap of Choice Hotels Intnl. (CHH)?
What is Choice Hotels International's core business model?
How many hotels does Choice Hotels operate?
What are the key brands under Choice Hotels?
What recent acquisitions has Choice Hotels made?
How does Choice Hotels leverage technology?
What is the Comfort Rise & Shine prototype?
What is the SOAR program?
What marketing initiatives has Choice Hotels recently launched?
What are Everhome Suites?
How does Choice Hotels support diversity in hotel ownership?
