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.
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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Choice Hotels International (NYSE: CHH) has welcomed two new properties to its Ascend Hotel Collection: The Palmer House Resort in Vermont and The Valley Inn in New Hampshire. These additions aim to attract leisure travelers during the fall season, offering unique outdoor experiences. The Palmer House Resort features a range of amenities such as a golf course and fitness center, while The Valley Inn is close to outdoor activities like skiing and hiking. Both hotels participate in the Choice Privileges loyalty program, enhancing guest experiences with exclusive rewards.
Choice Hotels International (NYSE: CHH) will announce its 2020 third quarter earnings on November 5, 2020, before market opening. A conference call led by CEO Patrick Pacious and CFO Dominic Dragisich will follow at 10:00 a.m. Eastern Time.
Participants can join by calling (888) 428-7458 domestically or (862) 298-0702 internationally. The call will be available as a live webcast on the company’s investor relations site and can be replayed after 1 p.m. Eastern Time on the same day.
Choice Hotels International (NYSE: CHH) celebrates the opening of its 20th Clarion Pointe hotel in the U.S., marking significant growth in just two years. Recent openings include locations in Raleigh, North Carolina; Savannah, Georgia; and Marshall, Texas, contributing to a pipeline of over 50 hotels. Clarion Pointe focuses on affordable travel with modern amenities, including complimentary breakfast and on-demand connectivity. The brand aims to expand further into key markets like Louisville and Salt Lake City.
Choice Hotels International (NYSE: CHH) has awarded a contract to Fredric Washington for the development of six hotels, marking the largest minority multi-unit franchise agreement in the program's history. This initiative underscores the company's commitment to diversity and inclusion in the hospitality industry. The locations include Sleep Inn and Comfort Suites in Fort Myers and Ocala, Florida, with the first hotel set to open in St. Augustine. So far this year, the emerging markets program has secured 17 contracts, advancing opportunities for underrepresented minority entrepreneurs.
Choice Hotels International (NYSE: CHH) announced a new promotion for its loyalty program, Choice Privileges, running until Nov. 15. Members who complete two qualifying stays will earn 8,000 reward points, redeemable for a $50 gift card at select retailers. This initiative is part of ongoing enhancements to the program, which aim to provide more value to members, especially amid the COVID-19 pandemic. The hotel chain continues to implement flexible policies and a Commitment to Clean initiative to ensure safety and cleanliness for its guests.