Welcome to our dedicated page for Choice Hotels Intl news (Ticker: CHH), a resource for investors and traders seeking the latest updates and insights on Choice Hotels Intl stock.
Choice Hotels International reports developments across its global lodging franchise business, including brand growth, franchise agreements, hotel openings, revenue management, and performance across extended stay, midscale, upscale, and economy segments. Company updates frequently reference brands and platforms such as Sleep Inn, Ascend Collection, Radisson, Choice Privileges, and franchise-owner tools that support booking, distribution, and hotel operations.
Recurring news also covers technology deployment in hospitality, including AI-enabled solutions such as Choice Hotels Business Direct, EasyBid, CHARLIE, RAISE, AgentCore, and AgentForce. Other updates address international expansion, the Canadian direct franchising model, loyalty and traveler research, annual convention themes, and quarterly operating results for the franchise-driven hotel portfolio.
Choice Hotels International (NYSE: CHH) has launched a new multichannel marketing campaign titled "Where Travels Come True" featuring Zooey Deschanel as the Fairy Travel Mother. The initiative aims to simplify the hotel booking process, addressing consumers' struggles with analysis paralysis from excessive online options. With the tagline emphasizing direct booking through ChoiceHotels.com, the campaign stresses the best price guarantee and a wide variety of hotel options. Highlighting brands like Cambria Hotels and Comfort, the campaign runs across various media platforms, including social media and TV, promoting a stress-free travel experience.
On March 20, 2023, Choice Hotels (NYSE: CHH) launched the HERtels by Choice Development Seminar, gathering nearly 40 franchise owners and associates to promote diversity in hotel ownership. This inaugural event, celebrating Women's History Month, focused on empowering women entrepreneurs facing barriers in the hospitality industry. Keynote speaker Dia Simms highlighted the importance of equity in hotel ownership. The HERtels program, initiated in 2021, has awarded over 50 contracts to women, providing training, mentorship, and networking opportunities to underrepresented groups. Choice Hotels reinforces its commitment to supporting diverse ownership within the hospitality sector.
Choice Hotels International (NYSE: CHH) has announced a 21% increase in its quarterly cash dividend, raising it from $0.2375 to $0.2875 per share. This change will take effect on April 18, 2023, for shareholders of record on April 3, 2023. The increase translates to an annual dividend rate of $1.15. In 2022, the company returned over $487 million to its shareholders through dividends and share repurchases.
Choice Hotels International, Inc. (NYSE: CHH) reported record performance for 2022, with total revenues of $1.4 billion, a 31% increase from 2021. Net income for the year reached $332.2 million, a 15% rise compared to the previous year. Adjusted EBITDA surpassed 2019 levels by 28%, totaling $478.6 million. Domestic revenue per available room (RevPAR) increased 20.4% in Q4 2022 against 2019, outperforming the industry. The acquisition of Radisson Hotels Americas added $104.2 million in revenue. The company awarded 590 domestic franchise agreements in 2022, reflecting an 11% increase from the prior year and showing strong growth potential for the future.
Choice Hotels International (NYSE: CHH) has partnered with Wells Fargo and Mastercard to launch a cobranded credit card program, set to debut in spring 2023. Existing cardmembers will transition to the new program in May 2023, benefiting from enhanced rewards, including 5x points on stays at participating hotels, and additional features like automatic Gold Elite Membership. The card aims to simplify point accumulation for rewards redeemable at over 7,500 hotels across various brands. This initiative is expected to attract more customers and enhance loyalty within the Choice Privileges program.
Choice Hotels International (CHH) has enhanced its loyalty programs by allowing members to exchange points between Choice Privileges and Radisson Rewards Americas. Effective January 31, 2023, members can convert two Radisson Rewards points for one Choice Privileges point, facilitating greater flexibility for booking stays at over 7,500 properties worldwide. This update reflects the company’s dedication to adding value for its 66 million combined members. Key benefits include access to exclusive member-only rates, the ability to redeem points for gift cards, and experiences in college sports. The program aims to elevate customer satisfaction and retention.
Choice Hotels International, Inc. (NYSE: CHH) has announced the opening of the Cambria Hotel Austin Uptown Near the Domain, part of its upscale Cambria brand, located in Austin, Texas, a key area in the 'Silicon Hills' technology corridor. This 135-room hotel is the second of three planned properties in Austin, offering modern amenities like multi-purpose spaces, spa-style bathrooms, and an on-site dining option. Situated near major tech offices, this hotel caters to both business and leisure travelers. As of now, there are 65 Cambria hotels across the U.S., with nearly 70 additional hotels planned.
Choice Hotels (NYSE: CHH) expands its Ascend Hotel Collection by adding Circus Circus Hotel & Casino in Las Vegas, enhancing booking options for its 55 million Choice Privileges members. Following a landmark agreement, Circus Circus rooms are now directly bookable on ChoiceHotels.com. This family-friendly resort offers 3,700 rooms and unique amenities, including an indoor amusement park and award-winning dining. With Circus Circus, Choice Hotels now features over 6,500 rooms on the Las Vegas Strip, alongside more than 20 casino properties nationwide. The Ascend Hotel Collection has over 330 properties worldwide as of September 30, 2022.
Choice Hotels International (NYSE: CHH) has strategically expanded its portfolio, becoming a key player in the upscale and extended stay segments. Highlights include the opening of the first Everhome Suites and the 65th Cambria Hotel, alongside the launch of Suburban Studios and the acquisition of Radisson Hotels Americas. The company now operates 22 brands with nearly 7,500 hotels and 630,000 rooms worldwide. Cambria Hotels has signed 20 new agreements, while WoodSpring Suites has expanded its pipeline by 68% in 2022, reflecting growing demand for extended stay options.
Choice Hotels International (NYSE: CHH) will announce its 2022 fourth quarter and full-year earnings results before the market opens on February 15, 2023. A conference call is scheduled for 10 a.m. EST, led by CEO Patrick Pacious and CFO Dominic Dragisich, to discuss the company's performance. Investors can join the call by dialing (888) 886-7786 for domestic or (416) 764-8658 for international access, using conference ID 21655006. The call will also be available via a live webcast on the investor relations website. A replay will be accessible by 2 p.m. EST on February 15, 2023.