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 the addition of four new properties to its Ascend Hotel Collection, enhancing its global portfolio of independent hotels. The new locations are: Haywood Park Hotel (Asheville, NC), Elevate Hotel at Sierra Blanca Ruidoso (Ruidoso, NM), The Inn at Leonardtown (Leonardtown, MD), and The Leo Collection Detroit (Lincoln Park, MI). These hotels emphasize unique experiences and outdoor adventures, aiming to attract travelers seeking immersive stays. The expansion aligns with the brand's growth strategy nearing 400 unique hotels worldwide, all participating in the Commitment to Clean initiative.
Choice Hotels International (NYSE: CHH) reported significant growth in its upscale brands, Ascend Hotel Collection and Cambria Hotels, achieving a 24% increase in domestic room count year-over-year. In the first half of 2021, Ascend gained a RevPAR share of 12 percentage points compared to local competitors, while Cambria led with a 15 percentage point gain. Both brands are expanding, adding new locations in diverse markets. The success reflects a strategic focus on high-revenue segments, bolstered by favorable travel trends as Americans return to domestic destinations.
Choice Hotels International, Inc. (NYSE: CHH) has launched the "Stay More. Earn More." promotion for its Choice Privileges loyalty program. From now until October 31, members can earn bonuses of 2,000 points for two-night stays and 5,000 points for three nights or longer. This initiative follows their successful 50 Million Member Sweepstakes. Jamie Russo, VP of loyalty programs, emphasizes its aim to enhance travelers' experiences by offering more rewards. Members must register for the promotion to participate, enhancing the program's appeal as Choice Hotels continues to focus on customer engagement.
Choice Hotels International (NYSE: CHH) announced a quarterly cash dividend of $0.225 per share, payable on October 15, 2021, to stockholders of record as of October 1, 2021. This decision reflects the company’s robust financial position and commitment to returning value to shareholders amidst its extensive portfolio of over 7,100 hotels worldwide. The company continues to enhance its offerings through the award-winning Choice Privileges loyalty program, catering to both business and leisure travelers.
Choice Hotels International (NYSE: CHH) has relaunched its Your Community, Your Choice. Local Business Grant Program, initially started in 2019, doubling both the financial contribution to $50,000 and the number of recipients to support franchisees' local charity efforts. Each of the 10 awarded franchisees will receive $5,000 grants to benefit local communities through various initiatives, including supporting those affected by COVID-19 and promoting sustainability. Applications are open until Sept. 24, 2021, with winners announced on Oct. 21, 2021.
Choice Hotels International (NYSE: CHH) reported Q2 2021 results, showing a RevPAR decrease of 1.1% versus Q2 2019, outperforming the industry by 20 percentage points. Notable highlights include a 15% increase in net income to $85.9 million and a 32% rise in franchise agreements year-to-date. As of July 2021, RevPAR improved by approximately 15% compared to July 2019, with occupancy levels at 70%. The total available liquidity stands at $908 million, reinforcing a strong balance sheet. The company reinstated dividends and plans to return about $25 million to shareholders in 2021.
Cambria Hotels, part of Choice Hotels International (NYSE: CHH), has opened its newest location in Fort Lauderdale, Florida, marking its fifth hotel in the state. The Cambria Hotel Fort Lauderdale Beach features upscale amenities, including a rooftop observation deck and meeting spaces. The opening ceremony included a $3,000 donation to Broward College. With nearly 60 Cambria hotels active nationwide, this launch aims to cater to the growing travel demand in Florida, allowing guests to enjoy a blend of work and leisure.
Choice Hotels International, Inc. (NYSE: CHH) has expanded its Cambria Hotels brand with the grand opening of the Cambria Hotel Shelby Township-Detroit on July 23, 2021. This upscale hotel features 98 rooms, an indoor heated pool, and a restaurant offering locally-inspired cuisine. Located in Shelby Township, it provides easy access to Detroit's corporate hubs and leisure attractions. The hotel is part of ongoing expansion efforts, with nearly 60 Cambria hotels now operational across key U.S. cities, enhancing the brand's presence in the upscale lodging market.
Choice Hotels International, Inc. (NYSE: CHH) announced the appointment of Donna Vieira to its board of directors on July 22, 2021. Vieira, currently the executive vice president and chief commercial officer at Sallie Mae, brings extensive experience in marketing and general management. Her previous roles include chief marketing officer at JPMorgan Chase. Stakeholders believe her expertise in consumer-focused businesses will enhance the board's strategic vision, contributing positively to the company's direction and growth.
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