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) will announce its 2020 third quarter earnings on November 5, 2020, before market opening. A conference call led by CEO Patrick Pacious and CFO Dominic Dragisich will follow at 10:00 a.m. Eastern Time.
Participants can join by calling (888) 428-7458 domestically or (862) 298-0702 internationally. The call will be available as a live webcast on the company’s investor relations site and can be replayed after 1 p.m. Eastern Time on the same day.
Choice Hotels International (NYSE: CHH) celebrates the opening of its 20th Clarion Pointe hotel in the U.S., marking significant growth in just two years. Recent openings include locations in Raleigh, North Carolina; Savannah, Georgia; and Marshall, Texas, contributing to a pipeline of over 50 hotels. Clarion Pointe focuses on affordable travel with modern amenities, including complimentary breakfast and on-demand connectivity. The brand aims to expand further into key markets like Louisville and Salt Lake City.
Choice Hotels International (NYSE: CHH) has awarded a contract to Fredric Washington for the development of six hotels, marking the largest minority multi-unit franchise agreement in the program's history. This initiative underscores the company's commitment to diversity and inclusion in the hospitality industry. The locations include Sleep Inn and Comfort Suites in Fort Myers and Ocala, Florida, with the first hotel set to open in St. Augustine. So far this year, the emerging markets program has secured 17 contracts, advancing opportunities for underrepresented minority entrepreneurs.
Choice Hotels International (NYSE: CHH) announced a new promotion for its loyalty program, Choice Privileges, running until Nov. 15. Members who complete two qualifying stays will earn 8,000 reward points, redeemable for a $50 gift card at select retailers. This initiative is part of ongoing enhancements to the program, which aim to provide more value to members, especially amid the COVID-19 pandemic. The hotel chain continues to implement flexible policies and a Commitment to Clean initiative to ensure safety and cleanliness for its guests.
Choice Hotels International (NYSE: CHH) announced that over 1,000 of its franchised hotels received the 2020 Travelers' Choice awards from Tripadvisor, ranking them among the top 10% globally. The award winners include properties from brands like Comfort, which earned the most awards (458), and Cambria Hotels, with 56% of its portfolio recognized. The recognition emphasizes guest satisfaction and service quality. The company's commitment to cleanliness remains strong as travel resumes. Choice Hotels has over 7,100 properties worldwide, offering diverse lodging options.
Choice Hotels International (NYSE: CHH) announces the opening of two new Cambria Hotels in Ocean City, Maryland, and Rohnert Park, California, as part of its ongoing expansion. This month marks the sixth property opened this year, enhancing Cambria's presence in popular U.S. destinations. The hotels boast modern amenities, including rooftop bars, pools, and event spaces. With travelers increasingly opting for leisure road trips, these openings cater to growing demand. Cambria now has over 50 locations across the U.S. and 80 more in development.
Choice Hotels International (NYSE: CHH) reported significant year-over-year growth in revenue per available room (RevPAR) and average daily rate (ADR) across its midscale and upper midscale brands through Q2 2020. The company attributes this success to a surge in leisure travel, which now makes up over 80% of room nights. Key achievements include Comfort hotels outperforming competition by 16 percentage points in RevPAR, Sleep Inn exceeding midscale metrics, and Quality Inn expanding to nearly 1,700 properties. Choice awarded over 150 franchise agreements, focusing on franchisee support amid the pandemic.
Choice Hotels International (NYSE: CHH) announced four key leadership promotions to drive growth. Scott Oaksmith became senior vice president of real estate and finance, focusing on strategic capital deployment. Raul Ramirez was promoted to senior vice president, leading international expansion. Elizabeth Redmond is now chief accounting officer, overseeing financial reporting and accounting functions. John Lancaster has been appointed regional vice president for emerging markets, enhancing hotel ownership opportunities for underrepresented groups. Choice Hotels continues to receive accolades for workplace diversity and inclusion.
Choice Hotels International (NYSE: CHH) announced growth for its Ascend Hotel Collection, which opened seven hotels in the first half of 2020 and added ten more to its pipeline. This upscale brand is attracting independent hotel owners and travelers seeking unique experiences during the pandemic. Since 2010, Ascend has seen a 600% unit growth. It outperformed the upscale segment in the first half of the year. Guests can join the award-winning Choice Privileges loyalty program, and all hotels are adhering to the Commitment to Clean initiative for enhanced safety.
Choice Hotels International (NYSE: CHH) has successfully onboarded over 50 AMResorts-branded properties, enhancing its network of luxury all-inclusive resorts in Mexico, the Caribbean, and Central America. This strategic agreement allows Choice Privileges loyalty program members to earn and redeem points at renowned resort brands, with promotional offers such as a bonus night, room upgrades, and additional loyalty points. The partnership positions Choice as a leader in all-inclusive offerings among major U.S. hotel companies, catering to travelers seeking top leisure destinations.
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