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 announced the rebranding of its Suburban Extended Stay Hotel brand to Suburban Studios, enhancing its appeal in the economy extended stay market. This redesign features modern amenities aimed at providing a welcoming environment for longer-term guests. The brand aims to support hotel owners with a flexible conversion model and efficient operating strategies, addressing the increasing demand in the extended stay segment. Suburban Studios will first open in Chicago, Illinois, with 27 additional hotels in development.
Choice Hotels International (NYSE: CHH) has launched its Stay Twice This Spring, Get a Free Night promotion, effective until May 8, 2022. Members of the Choice Privileges loyalty program can earn a free night after completing two qualifying stays at participating hotels. The program aims to enhance value for over 52 million members, allowing them to enjoy rewards during their travels. For more details, members must register before checkout and book through official channels.
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Choice Hotels International has celebrated the grand opening of the Cambria Hotel Louisville Downtown-Whiskey Row in Kentucky, marking its first entry into the state. The hotel is strategically located in the vibrant downtown area, offering 128 upscale rooms and various amenities, including a rooftop bar, spa-style bathrooms, and locally inspired dining. The opening event featured local dignitaries and highlighted the brand's commitment to expanding in key markets. With nearly 60 Cambria hotels currently in operation and over 70 planned, this expansion aligns with the brand's focus on modern, stylish accommodations.
Choice Hotels International (NYSE: CHH) reported strong growth in its extended stay portfolio, outpacing pre-pandemic performance in key metrics including RevPAR, average daily rate, and occupancy. In Q4 2021, the portfolio achieved a RevPAR increase of 24.7% compared to Q4 2019. WoodSpring Suites led with nearly 30% RevPAR growth. Franchise agreements rose by 27%, and future development remains robust with over 340 hotels in the pipeline. Choice's strategic focus on the extended stay segment continues to attract developer interest, highlighting resilience in uncertain market conditions.
Choice Hotels International's upscale brands, Ascend Hotel Collection and Cambria Hotels, saw significant growth in 2021, achieving domestic RevPAR index share gains over local competitors.
Both brands expanded their domestic hotel presence by 13%, with Ascend growing its unit count by 15% year-over-year and exceeding 2019 RevPAR levels by 14% in Q4.
Cambria achieved its strongest RevPAR growth in history, with over 12 percentage points gain compared to 2019, and plans to open over 10 new hotels in 2022.
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Choice Hotels International (NYSE: CHH) declared a quarterly cash dividend of $0.2375 per share, payable on April 15, 2022, to shareholders of record on April 1, 2022. This announcement reflects the company's ongoing commitment to returning value to its shareholders. Choice Hotels operates over 7,000 hotels globally, offering diverse lodging options across various segments. The company emphasizes its flexibility and resilience in navigating economic challenges while maintaining a strong franchise model.
Choice Hotels International (NYSE: CHH) reported strong financial results for 2021, with net income reaching $289 million and record adjusted EBITDA of $403.6 million. Their RevPAR growth of 2.2% for the year exceeded guidance and outperformed the industry by 19 percentage points. The company awarded 528 domestic franchise agreements, a 24% increase from 2020, with a focus on upscale and extended-stay brands. The domestic effective royalty rate increased to 5.01%. For 2022, the company anticipates continued growth in RevPAR and adjusted EBITDA, reflecting a robust recovery in the travel sector.
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