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.
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.
Choice Hotels International (NYSE: CHH) will release its 2021 second quarter earnings on August 5, 2021, before the market opens. A conference call featuring Patrick Pacious, president and CEO, and Dominic Dragisich, CFO, will occur at 10 a.m. Eastern Time to discuss company performance. To join, dial (888) 349-0087 (domestic) or (412) 317-5259 (international). A live webcast will be accessible on the investor relations website. The call will be available for replay post-2 p.m. Eastern Time on the same day.
On June 14, 2021, Choice Hotels International (NYSE: CHH) shared key updates during its presentation at the Goldman Sachs Travel and Leisure Conference. Highlights include a 12% increase in domestic RevPAR for Memorial Day weekend compared to 2019, marking a record for the company. Expecting continued demand, bookings for Independence Day weekend already outpace past figures. Notably, WoodSpring Suites achieved over 15% RevPAR growth, and the economy segment exceeded pre-pandemic levels. The company remains optimistic despite ongoing challenges from the COVID-19 pandemic.
Choice Hotels International (NYSE: CHH) CEO Patrick Pacious will speak at the 2021 Goldman Sachs Travel and Leisure Conference on June 8 at 1:35 p.m. Eastern Time. The event will be webcast live, and investors can join via the Financial Performance and Presentations tab on Choice Hotels' investor relations website.
A recording of the webcast will be available for 90 days in the Past Events section. Choice Hotels operates over 7,100 hotels and offers a wide range of lodging options.
Cambria Hotels, a brand of Choice Hotels International (NYSE: CHH), has announced the groundbreaking of a new upscale hotel in Columbia, South Carolina. Scheduled to open in Spring 2022, the four-story, 144-room hotel adds to the brand's growing presence in the state, complementing existing properties in Charleston, Fort Mill, Greenville, Mount Pleasant, Rock Hill, and Summerville. The hotel will feature a prime location in the arts district, modern amenities, locally inspired design, and enhanced cleanliness protocols.
Cambria Hotels, a brand under Choice Hotels International (NYSE: CHH), has launched its newest property in Ocean City, Maryland, featuring 137 rooms. The Cambria Hotel Ocean City - Bayfront offers upscale amenities including a rooftop bar, heated indoor pool, and locally inspired dining options. The grand opening, attended by local officials and community leaders, included a donation to the Surfrider Foundation. This marks the brand's fourth location in Maryland, adding to nearly 60 Cambria hotels across the U.S. as part of its rapid expansion strategy.
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