Choice Hotels (CHH): Morgan Stanley, Atlanta Capital disclose 6.3% beneficial stake

Rhea-AI Filing Summary

Morgan Stanley and its affiliate Atlanta Capital Management Company, LLC report beneficial ownership of common stock of Choice Hotels International, Inc. This amended Schedule 13G shows that the reporting group holds 6.3% of the outstanding common stock.

On a cover-page basis, units of Morgan Stanley report 2,850,856 shares beneficially owned, with 2,508,179 shares having shared voting power and 2,727,480 shares having shared dispositive power. Atlanta Capital Management separately reports 2,524,925 shares beneficially owned, with 2,191,496 shares having shared voting power and 2,405,285 shares having shared dispositive power. The filing specifies that it reflects only securities beneficially owned by designated Morgan Stanley reporting units, consistent with SEC Release No. 34-39538.

Key Figures

Percent of class owned (group): 6.3 % Morgan Stanley beneficially owned shares: 2,850,856 shares Morgan Stanley shared voting power: 2,508,179 shares +5 more

8 metrics

Percent of class owned (group) 6.3 % Percent of Choice Hotels common stock beneficially owned as stated in Item 4(b)

Morgan Stanley beneficially owned shares 2,850,856 shares Aggregate amount beneficially owned on Morgan Stanley cover page

Morgan Stanley shared voting power 2,508,179 shares Shares of Choice Hotels with shared voting power for Morgan Stanley units

Morgan Stanley shared dispositive power 2,727,480 shares Shares of Choice Hotels with shared dispositive power for Morgan Stanley units

Atlanta Capital beneficially owned shares 2,524,925 shares Aggregate amount beneficially owned on Atlanta Capital cover page

Atlanta Capital shared voting power 2,191,496 shares Shares of Choice Hotels with shared voting power for Atlanta Capital

Atlanta Capital shared dispositive power 2,405,285 shares Shares of Choice Hotels with shared dispositive power for Atlanta Capital

Atlanta Capital percent of class 5.6 % Percent of class reported on Atlanta Capital cover page

Key Terms

beneficially owned, shared voting power, shared dispositive power, percent of class, +2 more

6 terms

beneficially owned financial

"this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power financial

"6 | Shared Voting Power 2,508,179.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"8 | Shared Dispositive Power 2,727,480.00"

percent of class financial

"(b) | Percent of class: 6.3 %"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

parent holding company financial

"Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company"

Joint Filing Agreement regulatory

"EXHIBIT NO. EXHIBITS 99.1 Joint Filing Agreement"

FAQ

What percentage of Choice Hotels (CHH) does Morgan Stanley report owning in this Schedule 13G/A?

Morgan Stanley and its affiliate report beneficial ownership of 6.3% of Choice Hotels’ common stock. This percentage is disclosed under Item 4 as the percent of class held by the reporting group.

How many Choice Hotels (CHH) shares does Morgan Stanley report as beneficially owned?

Morgan Stanley reporting units list 2,850,856 shares beneficially owned of Choice Hotels common stock. Of these, 2,508,179 shares have shared voting power and 2,727,480 shares have shared dispositive power, according to the cover page data.

What is Atlanta Capital Management’s reported stake in Choice Hotels (CHH)?

Atlanta Capital Management Company, LLC reports 2,524,925 shares beneficially owned of Choice Hotels common stock. It has 2,191,496 shares with shared voting power and 2,405,285 shares with shared dispositive power, corresponding to 5.6% of the class on its cover page.

Does the Schedule 13G/A for Choice Hotels (CHH) indicate sole or shared voting power?

Both Morgan Stanley and Atlanta Capital report zero sole voting power and only shared voting power over their respective share positions. They likewise report no sole dispositive power, only shared dispositive power over the disclosed shares.

Who are the reporting persons in this Choice Hotels (CHH) Schedule 13G/A Amendment No. 9?

The reporting persons are Morgan Stanley and Atlanta Capital Management Company, LLC, both organized in Delaware. Their principal offices are in New York, NY and Atlanta, GA, respectively, as listed in Item 2.

What limitation does Morgan Stanley disclose about the reported Choice Hotels (CHH) holdings?

Morgan Stanley states that the filing reflects securities beneficially owned by certain operating units (the “MS Reporting Units”) only. It clarifies that it does not include securities owned by other MS units whose holdings are disaggregated under SEC Release No. 34-39538.

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Available on EDGAR 08/12/2026 - 03:28 PM Accepted by SEC EDGAR 08/12/2026 - 03:28 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 9)

CHOICE HOTELS INTERNATIONAL INC /DE

(Name of Issuer)

Common Stock

(Title of Class of Securities)

169905106

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 169905106

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,508,179.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,727,480.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,850,856.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.3 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP Number(s): 169905106

1

Names of Reporting Persons

Atlanta Capital Management Company, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,191,496.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,405,285.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,524,925.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.6 %

12

Type of Reporting Person (See Instructions)

IA, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CHOICE HOTELS INTERNATIONAL INC /DE
(b)	Address of issuer's principal executive offices: 915 MEETING STREET, SUITE 600, NORTH BETHESDA, MD, 20852
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Atlanta Capital Management Company, LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1075 Peachtree Street, Suite 2100, Atlanta, GA 30309
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 169905106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 6.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Claire Gordon
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	08/12/2026

Atlanta Capital Management Company, LLC

Signature:	Kelly Williams
Name/Title:	Authorized Signatory, Atlanta Capital Management Company, LLC
Date:	08/12/2026

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).