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, Inc. (NYSE: CHH) announced the opening of its 30th Clarion Pointe property, with new locations in Raleigh, South Boston, and Green Bay. The brand now includes nearly 70 hotels either open or in development. Clarion Pointe focuses on affordable accommodation with enhanced amenities and modern design, appealing to cost-conscious travelers. Future openings are planned in Augusta, Indianapolis, and Charlottesville. The brand's guest satisfaction rates have been high, reflecting its modern guest experience and commitment to cleanliness.
On May 20, 2021, Choice Hotels International (NYSE: CHH) announced the opening of its 30th property under the Clarion Pointe brand. This expansion follows the launch of three hotels in Raleigh, North Carolina, South Boston, Virginia, and Green Bay, Wisconsin, bringing its portfolio to nearly 70 hotels. The brand aims to cater to savvy travelers seeking affordable and modern accommodations. Future openings are planned in Augusta, Georgia, Indianapolis, Indiana, and Charlottesville, Virginia, among others.
Choice Hotels International (NYSE: CHH) reported Q1 2021 results with a domestic systemwide RevPAR decline of 18.7% compared to 2019. Despite this, it outperformed the industry by 23 percentage points and saw a 140% increase from April 2020 RevPAR. The Board reinstated a quarterly dividend of $0.225 per share and resumed a share repurchase program, holding $823 million in liquidity. The company awarded 89 domestic franchise agreements, a 53% increase year-over-year. Net income stood at $22.3 million, with adjusted EBITDA of $63.1 million, down 11% from last year.
Choice Hotels International (NYSE: CHH) announced a cash dividend of $0.225 per share, payable on July 16, 2021. Shareholders of record as of July 1, 2021 will receive this payment. Additionally, the Board has approved a share repurchase program for up to 3.4 million shares, indicating strong confidence in the company’s liquidity and outlook. CEO Patrick Pacious emphasized that these moves reflect a commitment to returning capital to shareholders and the company’s resilience during recovery from the pandemic.
Choice Hotels International (NYSE: CHH) announces a Spring Savings promotion from May 3 to May 23, offering up to 20% off for members booking stays at participating properties. Discounts are 20% for Sunday-Wednesday arrivals and 15% for Thursday-Saturday. The loyalty program, Choice Privileges, is recognized as a top hotel loyalty program and allows free membership with benefits including bonus points and airline miles. Changes to the program make it easier to earn elite status, enhancing customer engagement as travel resumes.
Choice Hotels International (NYSE: CHH) announces the opening of the Cambria Hotel Orlando Airport, expanding its upscale brand portfolio. This new property features 108 rooms and is the fourth Cambria hotel launched in 2021. Located near Orlando International Airport, it offers upscale amenities designed for modern travelers, such as a relaxing outdoor pool and multi-purpose spaces. The brand plans to open additional hotels in key markets, including Austin and Nashville, reflecting a robust expansion strategy as travel demand rises.
Choice Hotels International (NYSE: CHH) will report its 2021 first quarter earnings on May 10, 2021, before the market opens. A conference call will follow at 10:30 a.m. Eastern Time, featuring CEO Patrick Pacious and CFO Dominic Dragisich discussing the results. Participants can join by calling (888) 349-0087 or via the live webcast on the investor relations website. The recorded call will be available by 2 p.m. Eastern Time the same day. Choice Hotels is a leading lodging franchisor with over 7,100 hotels globally, offering a range of lodging options.
Cambria Hotels, part of Choice Hotels International (NYSE: CHH), has formed a collaboration with Cambria Estate Winery to enhance guest experiences starting in June 2021. This partnership will feature the winery's award-winning wines, including Julia's Vineyard Pinot Noir and Katherine's Vineyard Chardonnay, available at Cambria Hotels' restaurants and bars. The collaboration reflects both brands' commitment to providing enriching experiences and includes interactive 'Corks & Crafts' events. The initiative aligns with the increasing demand for in-room and outdoor dining options amid evolving traveler preferences.
Choice Hotels International (NYSE: CHH) has introduced the new Comfort Rise & Shine prototype to celebrate the brand's 40th anniversary and to promote growth. The new design emphasizes efficiency, functionality, and flexibility for developers while maintaining guest satisfaction. Key features include outdoor patios, high ceilings, and customizable color schemes. The transformation, part of a $2.5 billion multi-year enhancement, aims to optimize returns for hotel owners and cater to evolving guest needs. The first Rise & Shine prototype hotels are set to open in 2023.
Choice Hotels International (NYSE: CHH) was recognized at the 64th Annual Adrian Awards for excellence in travel marketing. The company won the Best Practice Gold Adrian in the newly established Recovery Strategies category for its 'On the Road Again' campaign, which promoted nearby tourism during the pandemic. Additionally, Cambria Hotels received the Bronze award for its 'Stay at Your Best' digital marketing campaign. The accolades underscore Choice's commitment to franchisee success and innovative marketing strategies.
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