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, Inc. (CHH) maintains its position as a leading global lodging franchisor through strategic innovation and a diverse portfolio of hospitality brands. This page serves as the definitive source for all company announcements, operational updates, and industry developments.
Investors and industry professionals will find timely updates on franchise expansions, technology initiatives like the choiceEDGE platform, and brand portfolio enhancements. The curated collection includes earnings disclosures, partnership announcements, and insights into modular conversion solutions that drive operational efficiency across properties.
With a focus on CHH's franchise-first business model and commitment to owner success, this resource provides essential context for understanding the company's market position. Regular updates ensure stakeholders stay informed about initiatives impacting extended-stay demand cycles, midscale hospitality trends, and international growth strategies.
Bookmark this page for direct access to CHH's official communications, including updates on loyalty programs, sustainability efforts, and technological advancements shaping modern hospitality operations.
Choice Hotels International (NYSE: CHH) announced reduced elite status qualifications for its Choice Privileges loyalty program for 2021, aiming to enhance rewards for its over 47 million members. Members can now qualify for Gold status after seven nights, Platinum after 15 nights, and Diamond after 25 nights. Additionally, existing elite members maintain their status through December 31, 2021. The program supports charitable initiatives, reflecting the company's commitment during the COVID-19 pandemic. The Commitment to Clean initiative ensures enhanced cleaning and safety for guests.
Choice Hotels International (NYSE: CHH) has partnered with Operation Homefront for the third consecutive year, aiming to raise over $100,000 and donate 500 room nights to support military families by year-end. The initiative includes a holiday drive encouraging loyalty program members to redeem points, with Choice matching donations up to $50,000. Since the partnership began in 2018, over 28 million Choice Privileges points have been donated, translating to nearly 3,000 room nights for military families.
Choice Hotels International (NYSE: CHH) has awarded franchise agreements to Victor Patel of VRL Hotels to develop two new Cambria Hotels in Tennessee—Gatlinburg and Pigeon Forge. The Gatlinburg hotel, set to open in 2022, will feature 140 rooms and a rooftop bar, while the Pigeon Forge location is anticipated in 2024. These expansions aim to strengthen the Cambria brand's presence in popular leisure markets amidst ongoing development efforts despite recent industry challenges. Currently, there are over 50 Cambria hotels across the U.S.
Choice Hotels International (NYSE: CHH) celebrated the grand opening of the new Cambria Hotel St. Petersburg – Madeira Beach Marina in Madeira Beach, Florida. This is the brand's third location in Florida, aiming to attract travelers seeking leisure and remote work opportunities. The 125-room hotel features amenities like a rooftop infinity pool, on-site dining, and proximity to major attractions. A $1,000 donation was made to the Gulf Beaches Rotary during the opening event.
Choice Hotels International (NYSE: CHH) reported significant growth in its upscale brands, the Ascend Hotel Collection and Cambria Hotels, in Q3 2020. Ascend outperformed the upscale segment with a RevPAR increase of over 26 percentage points year-over-year and captured nearly 19 percentage points in RevPAR share gains against local competitors. Cambria also made strides with a nearly 15 percentage point gain. Despite the pandemic, the company's domestic upscale room count increased by 33%. Upcoming openings include hotels in key locations such as Detroit and Napa.
On November 17, 2020, Choice Hotels International (NYSE: CHH) appointed three executives to enhance its growth strategies. Jonathan Mills becomes the CEO for Choice Hotels Europe, overseeing operations for over 430 properties across 20 countries. Olivier Macpherson is named regional finance director for Europe, aiming to streamline financial operations. Neerav Dudhwala takes charge of the Ascend Hotel Collection, focusing on brand enhancement and revenue growth. The company has received accolades for diversity and workplace equality in 2020.
Choice Hotels International (NYSE: CHH) has launched its annual Members Only Madness promotion from now until November 21, offering exclusive discounts and bonus points to Choice Privileges members. Additionally, a 30% discount is available to all guests on Cyber Monday, November 30. The promotion aims to reward over 46 million members for their loyalty. Membership in the Choice Privileges program is free and provides numerous benefits including fast rewards and flexibility amid the COVID-19 pandemic. Choice Hotels is committed to enhanced cleanliness and safety protocols.
Choice Hotels International (CHH) reported Q3 2020 results, showing a 32% revenue decline to $210.8 million compared to Q3 2019. Domestic RevPAR fell 28.8%, outperforming the industry by nearly 20%. Net income was $14.5 million, with diluted EPS of $0.26. Adjusted EBITDA decreased 34% to $74.9 million. The company awarded 232 new domestic franchise agreements, a 38% drop year-over-year. Cash flow from operations exceeded $68 million, and liquidity was strong at $792 million. Choice Hotels is not providing formal guidance for 2020, citing uncertainties from COVID-19.
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