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.
On July 23, 2020, Choice Hotels International (NYSE: CHH) announced the pricing of its $183,429,000 Tender Offer for its 5.750% Senior Notes due 2022. The offer will expire on August 5, 2020. Notes validly tendered by the Early Tender Time of July 22, 2020, will receive a total consideration of $1,074.79 per $1,000 principal along with accrued interest. The company will not accept late tenders as the maximum tender amount was reached. The tender offer aims to reduce outstanding debt and improve financial flexibility.
Choice Hotels International (NYSE: CHH) announced the early tender results for its cash tender offer to purchase up to $180 million of its 5.750% Senior Notes due 2022. The maximum tender amount has been increased to $183.43 million. As of July 22, 2020, a total of $183.43 million in notes was tendered. The tender offer will expire on August 5, 2020, and payment for the validly tendered notes is expected on July 24, 2020. The company is not accepting notes tendered after the early tender time, as all validly tendered notes will be purchased.
Choice Hotels International (NYSE: CHH) will release its 2020 second quarter earnings results on August 6, 2020, prior to market opening. The company will conduct a conference call at 11:30 a.m. Eastern Time featuring CEO Patrick Pacious and CFO Dominic Dragisich discussing the earnings performance. Interested parties can participate via a teleconference by calling 888-349-0087 (domestic) or 412-317-5259 (international). A live webcast will also be available on the company’s investor relations website.
Choice Hotels International (NYSE: CHH) has amended its tender offer to buy back its 5.750% Senior Notes due 2022. The aggregate maximum tender amount has increased from $160,000,000 to $180,000,000. All other terms of the tender offer remain unchanged. Holders must tender their notes by July 22, 2020, to be eligible for the early tender premium. The tender offer expires at 12:00 midnight on August 5, 2020. Wells Fargo Securities, J.P. Morgan, and Goldman Sachs are managing the offer.
Choice Hotels International (NYSE: CHH) has initiated a tender offer to purchase up to $160 million of its 5.750% Senior Notes due 2022 for cash. The total principal amount outstanding for these notes is $400 million. The tender offer is set to expire at midnight on August 5, 2020, with an early tender deadline on July 22, 2020. Holders who submit valid tenders before this time will receive an early tender premium. The offer is subject to various conditions, including financing and proration rules.
Choice Hotels International, with its Ascend Hotel Collection, has reported that over 35 properties are ranked among the top five in their respective markets on Tripadvisor. As of July 6, 2020, eight Ascend hotels achieved the No. 1 ranking in their locales, showcasing the brand's commitment to guest satisfaction. With nearly 315 unique hotels globally, new openings are anticipated in popular destinations like Daytona Beach and Seattle. The Ascend loyalty program continues to attract guests, reinforcing the brand's reputation for exceptional service.
Winter the Dolphin's Beach Club in Clearwater Beach, Florida, joins Choice Hotels' (NYSE: CHH) Ascend Hotel Collection, marking a significant expansion in eco-friendly lodging. This marine-themed hotel features 91 rooms and unique amenities aimed at providing an immersive experience for guests. A portion of room proceeds supports marine conservation efforts. The addition strengthens the Ascend brand, recognized for its distinct properties and robust technology support for franchisees. With more than 315 properties globally, Ascend continues to grow its portfolio, catering to eco-conscious travelers.
Choice Hotels International (NYSE: CHH) has expanded its Ascend Hotel Collection with the addition of three new hotels: The Shore Club Wisconsin, The Inn Hotel, and The Penn Stroud. These properties, located in key regions, cater to leisure travelers seeking memorable experiences. Each hotel offers unique amenities, such as lakeside access and historical charm. The move reflects a growing consumer desire for travel amidst the COVID-19 pandemic, bolstered by Choice's Commitment to Clean initiative which ensures heightened health protocols.
Choice Hotels International (NYSE: CHH) launched a new national advertising campaign aimed at encouraging travelers eager to return to the road. Research by the U.S. Travel Association indicates that over two-thirds of consumers miss traveling, with one in four already planning a vacation. The campaign highlights familiar U.S. destinations and promotes the brand's offerings, including nearly 6,000 hotels nationwide. Additionally, the 'Stay Twice, Earn a Free Night' promotion incentivizes direct bookings. The company's 'Commitment to Clean' initiative emphasizes guest safety during their travels.
Choice Hotels International (NYSE: CHH) highlights its focus on the extended stay segment, which has shown resilience during the COVID-19 pandemic. In March, occupancy for its extended stay brands exceeded 68%, significantly outpacing the industry average of 40%. The company has 410 extended stay hotels open, a 10% increase year-over-year, with 300 more in the pipeline. Despite a nationwide RevPAR decline, Choice's brands experienced less than a 14% drop in March. The new Everhome Suites brand is gaining traction, with strong developer interest expected to drive future growth.
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