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 concluded its 68th Annual Convention in Las Vegas, NV, one of the largest to date. The event featured the relaunch of Park Inn by Radisson, the reintroduction of the SOAR program for hotel ownership opportunities, and awards for top-performing hotels. Choice expressed optimism about future growth and celebrated owners' success.
Choice Hotels International, Inc. reported its first quarter 2024 results, with net income at $31.0 million and adjusted diluted EPS at $1.28, marking a 9% increase from 2023. The company repurchased $196.6 million of common stock year-to-date and relaunched Park Inn by Radisson. The global pipeline increased by 10% to over 115,000 rooms, and the company increased its guidance for diluted EPS for full-year 2024.
Choice Hotels International, Inc. announced the relaunch of Park Inn by Radisson as part of their strategy with the acquisition of Radisson Hotels Americas. The brand will be repositioned into the premium value conversion space targeting younger, value-conscious travelers. Park Inn by Radisson aims to deliver a unique guest experience focusing on color, connectivity, and convenience. The first relaunched property will be in San Antonio, Texas, with plans for domestic expansion. The brand will offer 'brighter basics' such as colorful decor, fast Wi-Fi, and grab & go breakfast items. Choice Hotels provides franchisee support and access to global reservation channels for improved digital traffic and bookings.
Choice Hotels International held its 68th annual convention in Las Vegas, showcasing its strong competitive position and plans for growth. With over 6,600 registrants and 1,100 exhibitors, the event focused on driving success for owners and operators in the travel industry. The company highlighted its recent growth, technology advancements, and strategic investments for future revenue generation.
Choice Hotels International, Inc. hosted a seminar called SOAR to support underrepresented entrepreneurs in hotel ownership, reaffirming its commitment to inclusivity. The company introduced a program to create opportunities for minority entrepreneurs, including black, Hispanic, native Americans, women, and veterans. Choice Hotels also highlighted its HERtels program empowering female entrepreneurs. The event featured discussions, a Q&A session with a former NFL player, and networking opportunities.
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