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) 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.
Cambria Hotels, a brand under Choice Hotels International (NYSE: CHH), expanded significantly in 2021, opening eight new hotels while breaking ground on six more. Key locations include Calabasas, Fort Lauderdale, and Nashville. Despite a challenging environment, the brand's growth reflects strong performance and access to financing. Cambria offers upscale amenities designed for modern travelers, with nearly 60 hotels currently open and over 70 in development across the U.S.
Choice Hotels International (NYSE: CHH) has announced the launch of its Fuel Up For Winter Fun promotion through March 12, 2022. Members of the Choice Privileges loyalty program can earn a $50 gas gift card by completing two qualifying stays at participating hotels. Jamie Russo, VP of loyalty programs, emphasized the promotion aims to assist travelers in planning their winter getaways. Participants must register and book through Choice channels. The loyalty program has received accolades, highlighting its appeal to both business and leisure travelers.
Choice Hotels International (NYSE: CHH) is set to announce its 2021 fourth quarter and full-year earnings on February 16, 2022, before market opening. A conference call will follow at 11:30 a.m. Eastern Time, featuring insights from CEO Patrick Pacious and CFO Dominic Dragisich on the company's performance. Investors can dial in or listen via a live webcast on the investor relations website. The call will be available for replay after 3 p.m. Eastern Time on the same day. Choice Hotels operates over 7,100 hotels across nearly 40 countries.
Choice Hotels International, Inc. (NYSE: CHH) announces the opening of the Cambria Hotel Calabasas in California, marking its fifth property in the state. This upscale hotel features 125 rooms and is strategically located near corporate headquarters and major attractions. The hotel offers modern amenities, including multi-purpose spaces, spa-style bathrooms, and various dining options. With nearly 60 Cambria hotels currently open and over 70 more planned, Choice Hotels continues its expansion strategy, enhancing its presence across major U.S. markets.
Choice Hotels (NYSE: CHH) has commenced construction on the Cambria Hotel Niagara Falls, marking its fourth hotel to break ground in Q4 2021. This 120-room hotel, expected to open in Spring 2023, is strategically located near Niagara Falls State Park, attracting over eight million visitors annually. The hotel will feature upscale amenities and is positioned to enhance the brand's presence in major tourist destinations. With nearly 60 Cambria hotels currently open and over 70 in development across the U.S., Cambria Hotels continues its expansion efforts.
Choice Hotels International (NYSE: CHH) and Concord Hospitality Enterprises are launching a six-month hospitality management accelerator program for HBCU graduates. This initiative aims to enhance diversity within the hospitality sector by providing training at Cambria Hotels. Two Morgan State alumni will be the first participants. Additionally, Choice Hotels is engaged in the HBCU Partnership Challenge to support career opportunities for students. The program reflects the company's commitment to diversity, equity, and inclusion, along with ongoing efforts to build a diverse talent pipeline in the hospitality industry.
Choice Hotels International (NYSE: CHH) has expanded its upscale brand, Cambria Hotels, with the opening of the Cambria Hotel Louisville Downtown-Whiskey Row. This five-story hotel features 128 rooms and is strategically located near major attractions, including the KFC Yum Center and Waterfront Park. This hotel is the second Cambria location to debut in December 2021, following the opening of the Cambria Hotel Nashville Airport. The hotel offers upscale amenities including multi-purpose spaces, locally inspired design, a restaurant, and a state-of-the-art fitness center. Nearly 60 Cambria hotels are currently operational, with over 70 more in the pipeline.
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