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) announced a 6% increase in its quarterly cash dividend from $0.225 to $0.2375 per share. The new dividend will be payable on January 18, 2022, to shareholders recorded on January 4, 2022. This decision leads to an annual dividend rate of $0.95, reflecting the company's commitment to returning value to shareholders amidst strong operational performance.
Choice Hotels International, Inc. (NYSE: CHH) announces the opening of the Cambria Hotel Nashville Airport, marking its second location in Nashville. This 130-room hotel offers amenities like a pool shaped like a guitar, a full bar featuring local beverages, and extensive meeting spaces. Strategically located near Nashville International Airport and major corporate offices, the hotel aims to cater to both business and leisure travelers. Additionally, the brand plans further expansion in Tennessee with upcoming properties in Gatlinburg and Pigeon Forge.
Choice Hotels International (NYSE: CHH) announces a holiday promotion for its Choice Privileges loyalty program. From now until December 31, members earn double loyalty points at participating hotels, redeemable for free nights and other rewards. An exclusive Cyber Monday offer provides a 20% discount for guests booking two-night stays for travel between December 6 and December 26. Choice Privileges has over 50 million members, highlighting its success in customer engagement. The company continues its commitment to cleanliness throughout its hotels.
Choice Hotels International, Inc. (NYSE: CHH) has relaunched its popular loyalty program promotion, the "Members Only Madness", available until November 20. This initiative offers exclusive discounts, gift card deals, and bonus points for bookings at Choice-branded hotels. Members will receive daily email alerts on available deals, accessible via the Choice Hotels mobile app or through CPMadness.com. Membership is free and provides various rewards, including points for future stays and unique benefits through partnerships.
Choice Hotels International (NYSE: CHH) reported significant growth for Q3 2021, with RevPAR increasing by 11.4% compared to Q3 2019, outpacing industry averages. Net income rose 53% to $116.7 million, with diluted EPS of $2.08. The company awarded 289 franchise agreements YTD, a 25% increase from 2020. Adjusted EBITDA reached $133.2 million, up 18% from 2019. The extended-stay portfolio surged with an 18.2% RevPAR increase. Total available liquidity exceeds $1 billion, supporting continued development and shareholder returns, including $12.5 million in dividends in October 2021.
Choice Hotels International (NYSE: CHH) has signed a lease for a new corporate headquarters in North Bethesda, Maryland, covering over 105,000 square feet. The headquarters, part of the Pike & Rose development, is set to be operational by Q4 2023. This facility will complement an existing technology center in Scottsdale, Arizona. The new location is designed with amenities for employee well-being and is strategically located near public transport and retail options. The building will target LEED Gold certification and features a rooftop conference center and fitness center.
On October 25, 2021, Federal Realty Investment Trust announced a long-term lease with Choice Hotels International for 105,000 square feet at 915 Meeting Street in North Bethesda, Maryland. This new 276,000-square-foot office building will feature top amenities and is set to begin construction later this year. Choice Hotels plans to relocate 400 employees there starting December 2023. The Pike & Rose development includes retail and dining options, contributing to the area's growth and corporate interest.
Choice Hotels International (NYSE: CHH) has announced an update regarding its 2021 third quarter investor conference call. The call will take place at 8 a.m. Eastern Time on November 4, 2021, following the financial results announcement at 7 a.m. Eastern Time. Patrick Pacious, CEO, and Dominic Dragisich, CFO, will discuss the company's performance. Participants can join via a conference call or live webcast from the company's investor relations website.
Choice Hotels International (NYSE: CHH) will announce its 2021 third quarter earnings before the market opens on November 4, 2021. A conference call will follow at 10 a.m. Eastern Time with CEO Patrick Pacious and CFO Dominic Dragisich discussing company performance. The teleconference can be accessed by calling (888) 349-0087 (domestic) or (412) 317-5259 (international). A live webcast will be available on their investor relations website.
The replay will be available by 2 p.m. Eastern Time on the same day.
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