choice hotels intl inc (CHH) Key Developments
Choice Hotels International Inc. Announces Opening of its First Prototype Dual-Brand Hotel Property Under the Sleep Inn and Mainstay Suites Chains
May 13 15
Choice Hotels International Inc. announced the opening of its first prototype dual-brand hotel property under the Sleep Inn and MainStay Suites chains. Owned and operated by JTM Hospitality, LLC, the recently constructed Sleep Inn/MainStay Suites Meridian, Mississippi dual-brand hotel offers 69 spacious guest rooms -- 38 rooms under the Sleep Inn & Suites and 31 rooms on the MainStay Suites side. JTM Hospitality has franchised with Choice Hotels for the past decade. This is the fourth Choice property in its expanding portfolio with more projects in development. The owners of the Sleep Inn/MainStay Suites Meridian dual-brand hotel are Jason Wood, lead development partner; Bryce Turnage, MD, partner; and David Majure, partner. Choice's new, innovative dual-brand concept for the Sleep Inn and MainStay Suites brands is an attractive option for guests as well as members of the hotel development community. The hybrid design allows guests to experience two distinctive brands during their stay. For developers, the strong appeal of these projects includes construction efficiencies, operational productivity through shared staff and both public space and back of house facilities, as well as the ability to tap into diverse customer bases. This allows hoteliers to address multiple travel market demands -- business, leisure, transient and extended stay all under one roof. Conveniently located off a major interstate (I-20/59) at 901 1st Ave East in Meridian, Mississippi, the hotel is close to aviation training facilities at Naval Air Station Meridian and the picturesque 3,000-acre Bonita Lakes Park. In addition to the highly appealing amenities typically available at both hotel chains -- such as free high speed internet, breakfast at the Sleep Inn/MainStay Meridian dual-brand hotel offers travelers twice the morning delight. Guests can start their day fueling up with the Sleep Inn brand's Morning Medley hot breakfast buffet as well as the MainStay Suites brand's signature MainStart hot oatmeal station. This hotel also features a shared fitness center and meeting and event space for both brands. But, most importantly, guests will be treated to good old southern hospitality from the hotel's very dedicated staff. The Sleep Inn brand features a simply stylish 'Designed to Dream' guest experience which includes an accessible, modern aesthetic. Renowned architects and designers from Gensler collaborated with the Sleep Inn brand team to create the hotel's contemporary but classic look and feel. The design scheme features soft lighting, warm hues and soothing, nature-oriented artwork.
Choice Hotels' Cambria Hotels & Suites Opens At Home - Rockville, MD
May 11 15
Choice Hotels International Inc. announced that the new Cambria hotel & suites Rockville is officially open for business at the Rockville Town Square. Built by Duball, LLC and owned and operated by Crescent Hotels & Resorts, Cambria hotel & suites Rockville sits at 1 Renaissance Street, two blocks from the Rockville Metrorail station and steps from top restaurants, shops and a movie theatre. The property opening comes on the heels of the Cambria hotel that opened last year in Washington, D.C.'s Shaw neighborhood. Located directly across the street from the Choice Hotels headquarters, the 140-suite hotel spans eight floors of the 15-story west tower of the Rockville Town Square, one of two towers in the mixed-use high-rise complex. In addition to the Cambria hotel, the complex will also house 40,000 square feet of street-level retail space. Guests entering the Cambria hotel & suites Rockville will be welcomed by a curved natural stone wall embracing them in a spacious hangout area with floor to ceiling glass. Just past the front desk is Social Circle, a bar-centric restaurant offering inviting seating choices for diners. The property also features an indoor heated pool and fitness center. Oversized guest rooms offer functional, chic decor upscale linens, and plenty of room to work. Guests can stay connected while they travel via complimentary high-speed wireless internet and plenty of places to charge their devices. A parking garage is built into the building's structure, allowing all rooms to enjoy an exterior view. Included in the hotel are three meeting rooms that can accommodate up to 106 people for banquets and conferences, all equipped with high-tech audio and visual equipment, making this hotel the perfect for business travelers who need space to work, but also want amenities that provide a sense of relaxation. Like all Cambria hotels & suites, the Rockville property will feature other fine amenities such as freshly prepared grab-and-go gourmet salads and sandwiches; and a barista bar featuring Wolfgang Puck® coffee.
Choice Hotels International Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Consolidated Earnings Guidance for the Second Quarter and Full Year of 2015
May 6 15
Choice Hotels International Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $175,245,000 against $159,736,000 a year ago. Operating income was $41,404,000 against $41,172,000 a year ago. Income from continuing operations before income taxes was $31,034,000 against $31,528,000 a year ago. Income from continuing operations, net of income taxes was $21,594,000 or $0.37 diluted per share against $21,469,000 or $0.36 diluted per share a year ago. Net income was $21,594,000 or $0.37 diluted per share against $23,110,000 or $0.39 diluted per share a year ago. Net cash used in operating activities was $15,835,000 against net cash provided by operating activities of $5,264,000 a year ago. Investment in property and equipment was $6,804,000 against $3,015,000 a year ago. EBITDA was $44,094,000 against $43,450,000 a year ago.
For the second quarter of 2015, the effective tax rate for continuing operations is expected to be approximately 32%. RevPAR is expected to increase approximately 7%. The company's diluted EPS is expected to be $0.58.
For 2015, the effective tax rate for continuing operations is expected to be approximately 31%. RevPAR is expected in range between 6.5% and 8%. The company expects full-year 2015 diluted EPS to range between $2.14 and $2.21. EBITDA is expected to range between $236 million and $241 million.
Choice Hotels International Declares Quarterly Cash, Payable on July 15, 2015
May 1 15
Choice Hotels International Inc. announced that its board of directors declared a quarterly cash dividend of $0.195 per share of common stock. The dividend is payable on July 15, 2015 to shareholders of record on July 1, 2015.
Choice Hotels International Inc. Approves Amendment to Amended and Restated Bylaws
Apr 29 15
On April 24, 2015, the Board of Directors of Choice Hotels International Inc. unanimously approved an amendment to the company’s amended and restated bylaws dated April 30, 2010, effective immediately.