NEW YORK, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Questex's Hotel Management today announces 2024's "Forty Over 40" list, which showcases dedicated, enthusiastic leaders in the hospitality industry who are age 40 plus. Hotel Management opened its call for nominations to the greater industry to identify hospitality trailblazers 40 or over who deserve widespread recognition for their commitment and experience. More than 100 nominations were received, and 40 professionals were chosen by Hotel Management's senior edi ...

Choice Hotels International, Inc. (CHH) delivered mixed fourth-quarter 2023 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. The top line fell year over year, while the bottom line increased from the prior-year quarter’s figure.In 2023, the company reported an uptick in growth, exceeding its full-year adjusted EBITDA and adjusted EPS guidance. The upside was propelled by the effective strategy of incorporating hotels with higher royalties per unit. The company expan ...

Choice Hotels International, Inc. (NYSE:CHH) Q4 2023 Earnings Conference Call February 20, 2024 10:00 AM ET Company Participants Allie Summers - Senior Director and Investor Relations Patrick Pacious - President and Chief Executive Officer Scott Oaksmith - Chief Financial Officer Dominic Dragisich - Executive Vice President, Operations and Chief Global Brand Officer Conference Call Participants Shaun Kelley - Bank of America Michael Bellisario - Robert W. Baird Stephen Grambling - Morgan Stanley Robin Farle ...

Choice Hotels (CHH) reported $358.4 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 1%. EPS of $1.44 for the same period compares to $1.26 a year ago.The reported revenue represents a surprise of -3.09% over the Zacks Consensus Estimate of $369.81 million. With the consensus EPS estimate being $1.35, the EPS surprise was +6.67%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stre ...

Choice Hotels International, Inc. (CHH) is scheduled to report fourth-quarter 2023 results on Feb 20, 2023, before the opening bell.In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate, but the revenues surpassed the same. Earnings and revenues increased 16.7% and 3% from the year-ago quarter’s figures, respectively.CHH topped the consensus mark in three of the last four quarters and missed on the other occasion, the average beat being 5.2%.The Trend in Estimate RevisionF ...

Financial Performance - Total revenues for 2023 reached $1,544,165, an increase of 10.1% from $1,401,949 in 2022[173]. - Net income for 2023 was $258,507, down 22.2% from $332,152 in 2022[174]. - Basic earnings per share decreased to $5.11 in 2023 from $6.05 in 2022, representing a decline of 15.5%[173]. - Total operating expenses increased to $1,165,401, up 24% from $939,597 in 2022[173]. - Cash provided by operating activities was $296,554, a decrease of 19.2% compared to $367,061 in 2022[177]. - The company experienced a foreign currency translation adjustment loss of $460 in 2023, compared to a loss of $637 in 2022[174]. Investments and Acquisitions - The Company acquired 100% of Radisson Hotels Americas for an accounting purchase price of approximately $673.9 million, netting to $550.4 million after cash acquired[129]. - The Company invested $38.9 million in equity method investments to support the development of Cambria Hotels and Everhome Suites in 2023, up from $3.1 million in 2022[128]. - The Company finalized the purchase price allocation for the acquisition of Radisson Hotels Americas during the third quarter of 2023[213]. - The company completed the acquisition of Radisson Hotels Americas on August 11, 2022, expanding its brand portfolio significantly[287]. Debt and Interest - The Company recognized $63.8 million of interest expense for the year ended December 31, 2023, an increase of $20.0 million from 2022 due to higher borrowings and interest rates[122]. - The Company paid off a mortgage loan principal of $56.0 million in connection with the Radisson Hotels Americas acquisition[157]. - As of December 31, 2023, the Company had $728.5 million in variable interest rate debt instruments with an effective interest rate of 6.74%[196]. - The total interest capitalized as a cost of property and equipment was $5.8 million in 2023, compared to $2.0 million in 2022, indicating a significant increase in capitalized interest[273]. Dividends and Shareholder Returns - The Company declared aggregate annual cash dividends of $1.15 per share for 2023, totaling approximately $56.5 million in aggregate payments[139]. - The Company declared a quarterly cash dividend of $0.2875 per share in March 2023, reflecting a 21% increase from the previous amount[210]. - The company redeemed 114.2 thousand shares of common stock at a total cost of $14.2 million during the year ended December 31, 2023[159]. Financial Position - Total assets increased to $2,394.8 million as of December 31, 2023, compared to $2,102.2 million as of December 31, 2022[206]. - Total liabilities rose to $2,359.2 million as of December 31, 2023, up from $1,947.5 million in the previous year[206]. - The Company reported a current portion of long-term debt of $499.3 million as of December 31, 2023, compared to $2.976 million in the previous year[206]. - The total amount of unrecognized tax positions, including interest and penalties, was $13.5 million as of December 31, 2023[190]. Revenue Generation - The Company’s principal source of revenue is franchise fees, which are based on gross room revenues or the number of rooms at franchised properties[111]. - The company generates revenue primarily from franchise fees, which are based on gross room revenues or the number of rooms at franchised properties, reflecting the seasonal nature of the hotel industry[288]. - The company recognizes revenues from owned hotels on a daily basis as services are rendered and rooms are occupied[253]. - The company recognizes marketing and reservation system fees as revenue, which are used to provide marketing services to franchisees[242]. Operational Insights - The company manages 14 hotels, including four owned hotels, generating revenue through management agreements based on a percentage of the hotel's monthly gross revenue and operating profits[228]. - Key performance indicators include the number of hotel rooms, occupancy rates, and average daily room rates (ADR), with revenue per available room (RevPAR) being a critical measure of hotel performance[296]. - The company aims to improve profitability by expanding its franchise system, enhancing the effective royalty rate, and maintaining a disciplined cost structure[299]. - The company has a total of 1,032 hotels under construction or awaiting conversion, indicating ongoing expansion efforts[287]. Risk Factors - The Company’s international operations are subject to greater economic and political risks, with franchised hotels operating in 46 countries and territories outside the United States[119]. - The company is subject to various risks, including economic conditions, consumer demand, and potential impacts from global health crises[285]. Taxation - The effective income tax rates for the years ended December 31, 2023, and 2022 were 23.3% and 24.0%, respectively, higher than the U.S. federal income tax rate of 21.0% due to state income taxes and tax expense related to compensation[144]. - The Company intends to limit any future foreign distributions to income which has been previously subject to U.S. taxation, following the new foreign dividend policy implemented in 2018[164]. Guest Loyalty Program - The liability for the guest loyalty program is developed based on an estimate of the eventual redemption rates and point values using various actuarial methods[161]. - As of December 31, 2023, the current and non-current deferred revenue balances for the guest loyalty program were $67.3 million and $30.9 million, respectively[246].

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Analysts on Wall Street project that Choice Hotels (CHH) will announce quarterly earnings of $1.35 per share in its forthcoming report, representing an increase of 7.1% year over year. Revenues are projected to reach $369.81 million, increasing 2.2% from the same quarter last year.The current level reflects an upward revision of 0.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projectio ...

Collaboration Provides Guests with Charging Availability and Prepares Hotel Owners to Meet Growing Demand  NORTH BETHESDA, Md., Feb. 6, 2024 /PRNewswire/ -- Choice Hotels International (NYSE: CHH), one of the world's largest hotel franchisors, announced today an agreement with Tesla to offer Tesla Universal Wall Connectors to participating Radisson, Cambria, Comfort, Country Inn & Suites, Quality Inn and other Choice-branded hotels across the U.S. Through this agreement, Choice-branded properties can add fo ...

"We are thrilled to be named AAA and CAA's first Preferred Hotel Supplier in a decade," said Abhijit Patel, vice president, revenue management and distribution, Choice Hotels. "AAA and CAA members represent a significant market with a combined membership that accounts for 31% of all paid room nights across North America. Choice's offerings are ideally positioned in drive-to markets throughout North America that will cater to AAA and CAA members." AAA and CAA members are known for their significant contribut ...