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 expanded its upscale brand, Cambria Hotels, with the opening of the Cambria Hotel Louisville Downtown-Whiskey Row. This five-story hotel features 128 rooms and is strategically located near major attractions, including the KFC Yum Center and Waterfront Park. This hotel is the second Cambria location to debut in December 2021, following the opening of the Cambria Hotel Nashville Airport. The hotel offers upscale amenities including multi-purpose spaces, locally inspired design, a restaurant, and a state-of-the-art fitness center. Nearly 60 Cambria hotels are currently operational, with over 70 more in the pipeline.
Choice Hotels International (NYSE: CHH) announced a 6% increase in its quarterly cash dividend from $0.225 to $0.2375 per share. The new dividend will be payable on January 18, 2022, to shareholders recorded on January 4, 2022. This decision leads to an annual dividend rate of $0.95, reflecting the company's commitment to returning value to shareholders amidst strong operational performance.
Choice Hotels International, Inc. (NYSE: CHH) announces the opening of the Cambria Hotel Nashville Airport, marking its second location in Nashville. This 130-room hotel offers amenities like a pool shaped like a guitar, a full bar featuring local beverages, and extensive meeting spaces. Strategically located near Nashville International Airport and major corporate offices, the hotel aims to cater to both business and leisure travelers. Additionally, the brand plans further expansion in Tennessee with upcoming properties in Gatlinburg and Pigeon Forge.
Choice Hotels International (NYSE: CHH) announces a holiday promotion for its Choice Privileges loyalty program. From now until December 31, members earn double loyalty points at participating hotels, redeemable for free nights and other rewards. An exclusive Cyber Monday offer provides a 20% discount for guests booking two-night stays for travel between December 6 and December 26. Choice Privileges has over 50 million members, highlighting its success in customer engagement. The company continues its commitment to cleanliness throughout its hotels.
Choice Hotels International, Inc. (NYSE: CHH) has relaunched its popular loyalty program promotion, the "Members Only Madness", available until November 20. This initiative offers exclusive discounts, gift card deals, and bonus points for bookings at Choice-branded hotels. Members will receive daily email alerts on available deals, accessible via the Choice Hotels mobile app or through CPMadness.com. Membership is free and provides various rewards, including points for future stays and unique benefits through partnerships.
Choice Hotels International (NYSE: CHH) reported significant growth for Q3 2021, with RevPAR increasing by 11.4% compared to Q3 2019, outpacing industry averages. Net income rose 53% to $116.7 million, with diluted EPS of $2.08. The company awarded 289 franchise agreements YTD, a 25% increase from 2020. Adjusted EBITDA reached $133.2 million, up 18% from 2019. The extended-stay portfolio surged with an 18.2% RevPAR increase. Total available liquidity exceeds $1 billion, supporting continued development and shareholder returns, including $12.5 million in dividends in October 2021.
Choice Hotels International (NYSE: CHH) has signed a lease for a new corporate headquarters in North Bethesda, Maryland, covering over 105,000 square feet. The headquarters, part of the Pike & Rose development, is set to be operational by Q4 2023. This facility will complement an existing technology center in Scottsdale, Arizona. The new location is designed with amenities for employee well-being and is strategically located near public transport and retail options. The building will target LEED Gold certification and features a rooftop conference center and fitness center.
On October 25, 2021, Federal Realty Investment Trust announced a long-term lease with Choice Hotels International for 105,000 square feet at 915 Meeting Street in North Bethesda, Maryland. This new 276,000-square-foot office building will feature top amenities and is set to begin construction later this year. Choice Hotels plans to relocate 400 employees there starting December 2023. The Pike & Rose development includes retail and dining options, contributing to the area's growth and corporate interest.
Choice Hotels International (NYSE: CHH) has announced an update regarding its 2021 third quarter investor conference call. The call will take place at 8 a.m. Eastern Time on November 4, 2021, following the financial results announcement at 7 a.m. Eastern Time. Patrick Pacious, CEO, and Dominic Dragisich, CFO, will discuss the company's performance. Participants can join via a conference call or live webcast from the company's investor relations website.
Choice Hotels International (NYSE: CHH) will announce its 2021 third quarter earnings before the market opens on November 4, 2021. A conference call will follow at 10 a.m. Eastern Time with CEO Patrick Pacious and CFO Dominic Dragisich discussing company performance. The teleconference can be accessed by calling (888) 349-0087 (domestic) or (412) 317-5259 (international). A live webcast will be available on their investor relations website.
The replay will be available by 2 p.m. Eastern Time on the same day.