Choice Hotels International Increases Share Repurchase Authorization

Choice Hotels International (NYSE: CHH) announced an increase in its share repurchase program by five million shares, bringing the total to approximately 6.7 million shares available for buyback.

Rhea-AI Summary

Choice Hotels International (NYSE: CHH) announced an increase in its share repurchase program by five million shares, bringing the total to approximately 6.7 million shares available for buyback. This decision reflects the company's confidence in driving shareholder value and utilizing capital effectively. The move is expected to have a positive impact on earnings per share (EPS) and overall investor sentiment.

Positive

• Increase in share repurchase program by five million shares.
• Total shares now available for buyback rises to approximately 6.7 million.
• Expected positive impact on earnings per share (EPS).

Negative

• None.

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Board Approves Increase of Total Number of Shares Available for Repurchase by Five Million 

ROCKVILLE, Md., Sept. 14, 2022 /PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH)—one of the world's largest lodging franchisors—announced that its board of directors has approved an increase in the number of shares authorized under its share repurchase program by five million shares. When added to the remaining number of available shares previously authorized for repurchase, this results in a total authorization of approximately 6.7 million shares.

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About Choice Hotels

Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. On August 11, 2022, Choice acquired Radisson Hotels Americas, adding nine brands, more than 600 hotels, and approximately 67,000 rooms in the United States, Latin America, the Caribbean, and Canada to its portfolio. With 22 brands, Choice Hotels has more than 7,500 hotels, and nearly 650,000 rooms, in 46 countries and territories as of August 11, 2022. The Choice^® family of hotel brands provide business and leisure travelers with a broad range of high-quality lodging options from limited service to full-service hotels in the upper upscale, upper mid-scale, midscale, extended-stay and economy segments. The award-winning Choice Privileges^® loyalty program offers members a faster way to rewards, with personalized benefits starting on day one. For more information, visit www.choicehotels.com.

© 2022 Choice Hotels International, Inc. All Rights Reserved.

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SOURCE Choice Hotels International, Inc.

FAQ

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What is the total number of shares for repurchase approved by Choice Hotels?

Choice Hotels has increased its share repurchase program by five million shares, totaling approximately 6.7 million shares available for buyback.

How will the share repurchase program impact CHH stock?

The increased share repurchase program is expected to enhance shareholder value and positively affect earnings per share (EPS) for CHH.

When was the share repurchase increase announced?

The announcement regarding the increase in the share repurchase program was made on September 14, 2022.

What is the significance of the share buyback for CHH investors?

The share buyback signifies the company's confidence in its financial health and aims to boost shareholder value.