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) expands its upscale Cambria Hotels brand with the opening of the Cambria Hotel Rock Hill – University Center in South Carolina. This six-story, 110-room hotel is the sixth Cambria property in the state and is strategically located near several attractions, including Winthrop University and the new Rock Hill Sports & Events Center. The hotel offers modern amenities such as upscale guest rooms, a rooftop bar, and extensive meeting space. This addition highlights Choice Hotels' commitment to growth, with over 80 Cambria hotels planned nationwide.
Choice Hotels International (NYSE: CHH) has expanded its upscale Cambria Hotels brand with the opening of the Cambria Hotel Washington D.C. Capitol Riverfront. This nine-story, 154-room property is the brand's fifth location in the D.C. area, highlighting its growth in key markets. Located in the Capitol Riverfront neighborhood, the hotel offers modern amenities, locally inspired design, and various facilities for both leisure and business travelers. The launch aligns with a broader expansion strategy, with four new Cambria properties scheduled to open in early 2021.
Choice Hotels International (NYSE: CHH) reported fourth quarter and full year 2020 results amid the pandemic's challenges. Domestic systemwide revenue per available room (RevPAR) decreased 25.1% in Q4, yet outperformed the total industry by 26 percentage points. Full year net income stood at $75.4 million, with adjusted diluted EPS down 49% year-over-year. The company awarded 427 domestic franchise agreements, with strong performance in extended-stay and upscale segments. As of December 31, 2020, cash flow from operations exceeded $115 million, bolstering its financial stability.
Choice Hotels International, Inc. (NYSE: CHH) announced the appointment of three new regional vice presidents to enhance corporate growth. Odette Brown will oversee franchise services in the mid-southern U.S., focusing on hotel owner profitability and market share. Glenn Gordon returns as RVP for the Ascend Hotel Collection, targeting growth in the southeast U.S. and Caribbean. Gary Mills joins as RVP for Cambria Hotels, focusing on Texas and mid-central regions. The company's commitment to diversity and workplace recognition continues to strengthen its brand reputation.
Choice Hotels International (NYSE: CHH) announced it will report its 2020 fourth quarter and full-year earnings results on February 17, 2021, before market opening. A conference call at 11:30 a.m. ET will feature CEO Patrick Pacious and CFO Dominic Dragisich discussing the company's performance. Interested participants can call (888) 349-0087 domestically or (412) 317-5259 internationally. A live webcast will be available on their investor relations website, and a replay will be accessible by 3 p.m. ET on the same day.
Choice Hotels International (NYSE: CHH) has launched a New Year, New Bonus promotion for its Choice Privileges loyalty program, allowing members to earn double bonus points, up to 30,000, until February 28. Jamie Russo, VP of loyalty programs, stated this initiative aims to reward over 47 million loyalty members for their continued support. The company also introduced new requirements for elite status, making it easier for members to earn benefits. Choice's commitment to cleanliness continues to focus on guest safety and satisfaction.
Choice Hotels International (NYSE: CHH) has opened the Cambria Hotel Fort Lauderdale Beach, marking its fourth property in Florida. Located at 2231 North Ocean Boulevard, the hotel offers upscale amenities like outdoor spaces, a rooftop bar, and multi-function meeting areas. This hotel adds to the brand's momentum, as it continues to expand despite the challenges of 2020, with plans for three additional openings by February 2021 in Florida, South Carolina, and Washington D.C.
With over 50 Cambria hotels operating nationwide, the brand emphasizes modern design and local experiences for travelers.
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