Choice Hotels International (CHH)
Market Price (9/25/2026): $100.93 | Market Cap: $4.6 BilSector: Consumer Discretionary | Industry: Hotels, Resorts & Cruise Lines
Choice Hotels International (CHH)
Market Price (9/25/2026): $100.93Market Cap: $4.6 BilSector: Consumer DiscretionaryIndustry: Hotels, Resorts & Cruise Lines
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.3% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14% Low stock price volatilityVol 12M is 38% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Smart Buildings & Proptech. Themes include Travel & Leisure Tech, and Real Estate Data Analytics. | Weak multi-year price returns2Y Excs Rtn is -56%, 3Y Excs Rtn is -89% Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 14.02, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14% | Key risksCHH key risks include [1] lagging net unit growth compared to its sector and [2] share price declines resulting from failed strategic transactions like its attempt to acquire Wyndham. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.3% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14% |
| Low stock price volatilityVol 12M is 38% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Smart Buildings & Proptech. Themes include Travel & Leisure Tech, and Real Estate Data Analytics. |
| Weak multi-year price returns2Y Excs Rtn is -56%, 3Y Excs Rtn is -89% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 14.02, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14% |
| Key risksCHH key risks include [1] lagging net unit growth compared to its sector and [2] share price declines resulting from failed strategic transactions like its attempt to acquire Wyndham. |
Qualitative Assessment
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Choice Hotels International (CHH) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Decline in Net Income for Fiscal Q2 2026. Choice Hotels International reported a 21% decline in net income to $64 million for fiscal Q2 2026, which ended June 30, 2026, compared to $82 million in the same period of 2025. This decrease, despite adjusted diluted earnings per share beating consensus estimates by $0.05 at $2.02 and revenue exceeding expectations at $440.76 million, was primarily attributed to a higher net reimbursable deficit, the timing of selling, general, and administrative (SG&A) expenses, and increased depreciation and amortization.
2. Broader Hospitality Sector Weakness. The stock experienced a notable decline of 5.1% on August 31, 2026, as part of a significant sector-wide sell-off that affected other lodging and hospitality companies, which also saw losses ranging from 3.6% to 4.3%. This indicates that the stock movement was influenced by broader investor concerns regarding overall consumer spending and travel trends impacting the hospitality industry, rather than solely company-specific news on that day.
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Choice Hotels International (CHH) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Decline in Net Income for Fiscal Q2 2026. Choice Hotels International reported a 21% decline in net income to $64 million for fiscal Q2 2026, which ended June 30, 2026, compared to $82 million in the same period of 2025. This decrease, despite adjusted diluted earnings per share beating consensus estimates by $0.05 at $2.02 and revenue exceeding expectations at $440.76 million, was primarily attributed to a higher net reimbursable deficit, the timing of selling, general, and administrative (SG&A) expenses, and increased depreciation and amortization.
2. Broader Hospitality Sector Weakness. The stock experienced a notable decline of 5.1% on August 31, 2026, as part of a significant sector-wide sell-off that affected other lodging and hospitality companies, which also saw losses ranging from 3.6% to 4.3%. This indicates that the stock movement was influenced by broader investor concerns regarding overall consumer spending and travel trends impacting the hospitality industry, rather than solely company-specific news on that day.
3. Impact of Inflationary Pressures on Consumer Travel Behavior. Ongoing economic pressures, including inflation in travel and other goods and services, are influencing consumer spending habits, leading to an expected shift towards shorter-duration and lower-cost trips. This trend particularly affects the midscale and economy hotel segments, where Choice Hotels has a significant presence, as financial pressures on consumers are a limiting factor for consistent rate growth in these categories.
4. Initial Uncertainty from CEO Transition. The appointment of Dominic Dragisich as interim Chief Executive Officer on May 20, 2026, replacing Pat Pacious, may have introduced a period of leadership uncertainty for investors. While Dragisich was permanently appointed President and CEO on August 31, 2026, the interim period could have contributed to investor caution during the specified timeframe.
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Stock Movement Drivers
Fundamental Drivers
The -7.0% change in CHH stock from 5/31/2026 to 9/24/2026 was primarily driven by a -5.9% change in the company's Net Income Margin (%).| (LTM values as of) | 5312026 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 108.60 | 100.96 | -7.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,605 | 1,619 | 0.9% |
| Net Income Margin (%) | 21.5% | 20.3% | -5.9% |
| P/E Multiple | 14.4 | 13.9 | -3.2% |
| Shares Outstanding (Mil) | 46 | 45 | 1.2% |
| Cumulative Contribution | -7.0% |
Market Drivers
5/31/2026 to 9/24/2026| Return | Correlation | |
|---|---|---|
| CHH | -7.0% | |
| Market (SPY) | 1.7% | 1.7% |
| Sector (XLY) | -8.5% | 21.8% |
Fundamental Drivers
The -3.6% change in CHH stock from 2/28/2026 to 9/24/2026 was primarily driven by a -12.5% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 104.78 | 100.96 | -3.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,597 | 1,619 | 1.4% |
| Net Income Margin (%) | 23.2% | 20.3% | -12.5% |
| P/E Multiple | 13.0 | 13.9 | 6.7% |
| Shares Outstanding (Mil) | 46 | 45 | 1.8% |
| Cumulative Contribution | -3.6% |
Market Drivers
2/28/2026 to 9/24/2026| Return | Correlation | |
|---|---|---|
| CHH | -3.6% | |
| Market (SPY) | 12.4% | 10.5% |
| Sector (XLY) | -5.2% | 23.3% |
Fundamental Drivers
The -14.6% change in CHH stock from 8/31/2025 to 9/24/2026 was primarily driven by a -21.6% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 118.26 | 100.96 | -14.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,577 | 1,619 | 2.6% |
| Net Income Margin (%) | 19.5% | 20.3% | 3.9% |
| P/E Multiple | 17.7 | 13.9 | -21.6% |
| Shares Outstanding (Mil) | 46 | 45 | 2.1% |
| Cumulative Contribution | -14.6% |
Market Drivers
8/31/2025 to 9/24/2026| Return | Correlation | |
|---|---|---|
| CHH | -14.6% | |
| Market (SPY) | 20.3% | 14.2% |
| Sector (XLY) | -4.1% | 28.8% |
Fundamental Drivers
The -18.1% change in CHH stock from 8/31/2023 to 9/24/2026 was primarily driven by a -34.0% change in the company's P/E Multiple.| (LTM values as of) | 8312023 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 123.23 | 100.96 | -18.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,536 | 1,619 | 5.4% |
| Net Income Margin (%) | 19.3% | 20.3% | 5.2% |
| P/E Multiple | 21.1 | 13.9 | -34.0% |
| Shares Outstanding (Mil) | 51 | 45 | 12.0% |
| Cumulative Contribution | -18.1% |
Market Drivers
8/31/2023 to 9/24/2026| Return | Correlation | |
|---|---|---|
| CHH | -18.1% | |
| Market (SPY) | 76.8% | 34.3% |
| Sector (XLY) | 32.4% | 39.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CHH Return | 47% | -27% | 2% | 26% | -32% | 8% | -0% |
| Peers Return | 43% | -16% | 32% | 21% | 5% | -2% | 99% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| CHH Win Rate | 75% | 25% | 42% | 67% | 42% | 56% | |
| Peers Win Rate | 55% | 45% | 58% | 60% | 58% | 49% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| CHH Max Drawdown | -10% | -33% | -18% | -15% | -45% | -21% | |
| Peers Max Drawdown | -18% | -34% | -20% | -19% | -32% | -23% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: WH, MAR, HLT, H, HGV. See CHH Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/24/2026 (YTD)
How Low Can It Go
| Event | CHH | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -11.3% | -9.5% |
| % Gain to Breakeven | 12.8% | 10.5% |
| Time to Breakeven | 103 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -32.1% | -24.5% |
| % Gain to Breakeven | 47.2% | 32.4% |
| Time to Breakeven | 791 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -50.5% | -33.7% |
| % Gain to Breakeven | 102.0% | 50.9% |
| Time to Breakeven | 256 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -17.6% | -19.2% |
| % Gain to Breakeven | 21.3% | 23.8% |
| Time to Breakeven | 51 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -15.9% | -12.2% |
| % Gain to Breakeven | 18.9% | 13.9% |
| Time to Breakeven | 31 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -21.0% | -6.8% |
| % Gain to Breakeven | 26.6% | 7.3% |
| Time to Breakeven | 62 days | 15 days |
In The Past
Choice Hotels International's stock fell -2.5% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 2.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | CHH | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -32.1% | -24.5% |
| % Gain to Breakeven | 47.2% | 32.4% |
| Time to Breakeven | 791 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -50.5% | -33.7% |
| % Gain to Breakeven | 102.0% | 50.9% |
| Time to Breakeven | 256 days | 140 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -21.0% | -6.8% |
| % Gain to Breakeven | 26.6% | 7.3% |
| Time to Breakeven | 62 days | 15 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -23.5% | -15.4% |
| % Gain to Breakeven | 30.7% | 18.2% |
| Time to Breakeven | 120 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -39.4% | -53.4% |
| % Gain to Breakeven | 64.9% | 114.4% |
| Time to Breakeven | 370 days | 1085 days |
In The Past
Choice Hotels International's stock fell -2.5% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 2.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Choice Hotels International (CHH)
Choice Hotels International (CHH) operates primarily as a global hotel franchisor. The company licenses a broad portfolio of well-known hotel brands across various segments, from economy to upscale, including names like Comfort Inn, Quality, Sleep Inn, Econo Lodge, Cambria Hotels, and Everhome Suites. Through its franchising model, Choice Hotels provides independent hotel owners and operators with essential brand recognition, marketing support, and robust operational systems to help them attract guests and manage their properties efficiently.
With a vast network exceeding 7,000 hotels and nearly 580,000 rooms spread across 50 U.S. states and approximately 40 countries, Choice Hotels' primary customers are the individual hoteliers who choose to operate their properties under one of the company's established brand names. In addition to its core franchising business, Choice Hotels also develops and markets cloud-based property management software. This software is specifically designed for non-franchised hoteliers, allowing the company to extend its reach into the broader hospitality technology market and offer operational solutions beyond its branded network.
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Analogy 1: Yum! Brands for hotels
Analogy 2: The Marriott or Hilton of mid-range and economy hotels
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- Hotel Franchising: Providing licenses for hotel brands and operational support to independent hotel owners worldwide.
- Cloud-based Property Management Software: Developing and marketing software solutions for managing hotel operations to non-franchised hoteliers.
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- Hotel Franchisees: These are independent business owners, investment groups, or operators who contract with Choice Hotels International to license and operate hotels under one of Choice's numerous brand names (e.g., Comfort Inn, Quality, Cambria Hotels). These franchisees pay fees to Choice Hotels for the use of its brands, access to its global reservation system, marketing and advertising support, operational guidance, and other services. Given the nature of a franchise model, these customers are typically numerous independent entities, most of which are privately owned and operated businesses. Therefore, specific names and public symbols for major customer companies cannot be provided as there are no large, publicly traded companies that serve as primary franchisees for Choice Hotels.
- Non-Franchised Hoteliers: Choice Hotels also develops and markets cloud-based property management software to hoteliers who are not part of its franchise system. These customers are other hotel owners and operators who utilize Choice's software solutions for their property management needs. Similar to franchisees, these customers are typically independent hotels or smaller hotel groups, and not major publicly traded corporations.
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Patrick Pacious, President and Chief Executive Officer
Patrick Pacious joined Choice Hotels in 2005 and ascended to the role of President and Chief Executive Officer in 2017. Before his tenure as CEO, he served as the company's President and Chief Operating Officer. Mr. Pacious began his career as an officer in the U.S. Navy, specializing in surface warfare and strategic planning from 1987 to 1993. Following his military service, he worked in senior management consulting for firms such as Arthur Andersen Business Consulting LLP and BearingPoint Inc., where he advised various major hospitality companies, including Choice Hotels. Under his leadership, Choice Hotels significantly expanded its portfolio through strategic acquisitions, including Radisson Hotels Americas in 2022 and WoodSpring Suites in 2018, and launched the Everhome Suites brand in 2020. He also successfully navigated the company through the challenges of the COVID-19 pandemic, achieving industry-outperforming results. Mr. Pacious currently serves on the board of directors of Valvoline Inc.
Scott Oaksmith, Chief Financial Officer
Scott Oaksmith was promoted to Chief Financial Officer of Choice Hotels International in August 2023. A veteran of Choice Hotels for over 20 years, he joined the company in 2002. Throughout his career at Choice, he has held numerous financial leadership positions, including controller, senior vice president of finance, and chief accounting officer. In his current capacity, Mr. Oaksmith is responsible for leading the company's overall financial strategy and corporate growth initiatives. Prior to becoming CFO, he served as Senior Vice President and Deputy Chief Financial Officer.
Dominic Dragisich, Executive Vice President, Operations and Chief Global Brand Officer
Dominic Dragisich became the Executive Vice President, Operations and Chief Global Brand Officer for Choice Hotels International. He initially joined Choice Hotels in 2017 as the Chief Financial Officer. During his time as CFO, he played a crucial role in the 2022 acquisition of Radisson Hotels Americas. Before joining Choice, Mr. Dragisich served as Chief Financial Officer at XO Communications, a telecommunications services provider. In that role, he was responsible for financial operations, improved profitability, and was instrumental in the company's subsequent sale to Verizon Communications, Inc. His earlier career includes senior finance and operational positions at Marriott International, NII Holdings, and Deloitte Consulting.
Raul Ramirez, Chief Segment and International Operations Officer
Raul Ramirez serves as the Chief Segment and International Operations Officer for Choice Hotels International, a position he was promoted to in August 2023. He joined Choice Hotels in 2017. Previously, he held the role of Chief Strategy and International Operations Officer. Mr. Ramirez has been key in leading the successful integrations of the WoodSpring Suites and Radisson Hotels Americas brands following their acquisitions. Before joining Choice, he held various senior leadership roles in finance and operations at Verizon, XO Communications, and Nextel International.
David Pepper, Chief Development Officer
David Pepper has served as the Chief Development Officer of Choice Hotels International Inc. since November 2015. In this role, he is responsible for the growth of the company's franchised hotels.
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The key risks to Choice Hotels International (CHH) include a decline in domestic revenue per available room (RevPAR), intense competition within the hospitality industry, and challenges related to maintaining consistency across its franchised properties alongside slower unit growth.
- Softening U.S. Travel Demand and Domestic RevPAR Decline: Choice Hotels International faces a significant risk from the softening of U.S. travel demand, which has led to a decline in domestic Revenue Per Available Room (RevPAR). This is highlighted as a "real headwind" and the "most immediate problem" for the company. For example, in the third quarter of 2025, U.S. RevPAR reportedly declined by 3.2% year-over-year. As a franchisor, a substantial portion of Choice Hotels' revenue is derived from royalty fees tied directly to its franchisees' gross room revenue, making it particularly vulnerable to fluctuations in this key performance indicator.
- Intense Competition: The hospitality industry is highly competitive, with Choice Hotels International vying for market share against other large hotel chains such as Marriott International and Hilton Worldwide Holdings, as well as boutique hotels and alternative lodging options like vacation rentals. This competitive landscape, characterized by low switching costs for consumers and fierce price competition, poses a threat to CHH's growth and profitability. The scale of larger competitors often provides advantages in areas like loyalty programs and technology investments.
- Challenges in Franchise Consistency and Slower Unit Growth: Given its extensive asset-light franchising model, Choice Hotels faces the challenge of maintaining consistent quality and service standards across its vast network of franchised properties. Inconsistencies can potentially impact customer loyalty and the overall strength of its brands. Furthermore, the company has experienced lower organic and total net unit growth compared to its sector, which is a significant concern that could hinder its ability to secure prime locations for new properties and maintain its long-term market share and competitive standing.
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The emergence of comprehensive, tech-driven platforms and networks that provide independent hotel owners with an alternative to traditional franchising, offering integrated solutions for distribution, marketing, technology, and flexible branding. These platforms, potentially developed by large online travel agencies or new hospitality technology companies, could offer greater flexibility, lower costs, or more tailored solutions compared to conventional franchise agreements, thereby attracting potential and existing franchisees away from companies like Choice Hotels.
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For Choice Hotels International (CHH), the addressable markets for its main products and services are substantial both globally and within the U.S.
Hotel Franchising
The global market for hotel franchises was valued at approximately USD 38.3 billion in 2024 and is projected to reach USD 54.8 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 6.2% from 2024 to 2030. Other estimates place the global market at USD 37.02 billion in 2023, with a projection to reach USD 77.16 billion by 2033 at a CAGR of 7.62%. Similarly, another source indicates a market size of USD 39.4 billion in 2024, expected to grow to USD 73.39 billion by 2033 with a CAGR of 7.3%.
Regionally, North America is identified as the largest market for hotel franchises, with the U.S. market alone estimated at USD 10.4 billion in 2024. North America is also projected to lead the global hotel franchise market by 2033.
Cloud-Based Property Management Software
The global hotel property management system (PMS) market was estimated to be USD 3.6 billion in 2024 and is expected to grow to USD 8.5 billion by 2034, with a CAGR of 9.2% from 2025. Another assessment values the global hospitality property management software market at USD 5.78 billion in 2024, with a forecast to reach USD 9.99 billion by 2035 at a CAGR of 5.12%. The broader global hotel and hospitality management software market was valued at USD 6.8 billion in 2024 and is expected to reach USD 11.2 billion by 2030, growing at a CAGR of 8.6%. An estimate for the global hotel management software market size is USD 5.74 billion in 2026, projected to reach USD 10.37 billion by 2033.
In terms of regional market size, North America holds a significant share. The U.S. market for hotel property management systems accounted for over 70% of the North American market in 2024, generating USD 903.7 million. North America generally leads the hospitality PMS market, comprising over 35% to 40% of the global market share. The U.S. hospitality PMS market is mature, with over 70% of its more than 54,000 hotels and motels estimated to use a property management system.
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Choice Hotels International (CHH) is expected to drive future revenue growth over the next two to three years through several strategic initiatives and market trends:
- International Expansion: Choice Hotels is significantly expanding its international footprint, which is a major driver of revenue growth. International adjusted EBITDA grew 35% year-over-year in Q3 2025, with management planning to double it by 2027. The company's international system size expanded 13% in 2025, reaching nearly 160,000 rooms outside the U.S., driven by an 82% increase in international hotel openings during the same period. This expansion includes a strategic shift to direct franchising in regions like Canada, following the acquisition of the remaining 50% stake in Choice Hotels Canada in Q3 2025, and entry into new markets such as Argentina and Poland, alongside substantial growth in France and Asia-Pacific.
- Growth in Higher-Revenue Segments: The company is prioritizing growth in its upscale and extended-stay segments, which generate higher revenue. The extended-stay segment now constitutes over 40% of Choice Hotels' U.S. pipeline, and 2025 saw a record number of U.S. extended-stay hotel openings, increasing 8% year-over-year, particularly led by the Everhome Suites brand. The global system size for the upscale segment also expanded by 21%, with a growing domestic upscale pipeline indicating future openings.
- Conversion-Led Hotel Openings and High-Quality Pipeline: Choice Hotels benefits from a strategy focused on conversion hotels, which open significantly faster than new construction (typically within three to six months, about 80% faster). These conversions are projected to account for approximately 80% of total U.S. openings in 2025. The company's global pipeline is characterized by high quality, with 97% to 98% of rooms in higher-revenue brands, which are anticipated to be approximately 1.7 times more accretive than the existing portfolio. Global franchise agreements awarded surged 22% in 2025, demonstrating strong developer interest.
- Increased Royalty Rates and Diversified Partnership Revenue: Revenue growth is also expected from increasing average U.S. royalty rates and a strong performance in partnership services. The average U.S. royalty rate increased by 8 basis points for the full year 2025 and 10 basis points in Q4 2025, reflecting improved franchisee economics and the successful growth of higher-revenue brands. Furthermore, partnership services and fees grew 14% year-over-year in 2025, including a 16% increase in the fourth quarter, driven by co-brand fees and enhanced supplier and strategic partnership fees. These diversified revenue streams contribute to higher-margin growth.
- Enhanced Loyalty Program and Targeted Business Travel Growth: The launch of the next evolution of the Choice Privileges loyalty platform and a forthcoming digital platform aimed at small and midsized businesses are designed to boost direct bookings and customer retention. Business travelers currently account for approximately 40% of stays. The company reported a 35% year-over-year increase in group revenue and an 18% rise in small and medium business revenue in Q3 2025, indicating successful efforts to capture higher-value business and group segments.
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Share Repurchases
- In 2025, Choice Hotels repurchased approximately $135.8 million in shares.
- The company repurchased about 1 million shares in 2025, representing more than 2% of its outstanding shares.
- As of December 31, 2025, approximately 2.8 million shares remained under the share repurchase authorization, equivalent to about 6% of shares outstanding.
Share Issuance
- Choice Hotels' shares outstanding declined by 3.12% in 2025, 5.17% in 2024, and 8.02% in 2023, reflecting a trend of share repurchases rather than issuances.
Outbound Investments
- Choice Hotels acquired the remaining 50% stake in Choice Hotels Canada in 2025, which included a $100 million gain from the fair value remeasurement of the previously held equity investment.
- The company continued to selectively deploy capital to scale its Cambria Hotels and Everhome Suites brands in 2025.
- Choice Hotels acquired the Radisson brand in August 2022, adding approximately 70,000 rooms to its portfolio.
Capital Expenditures
- Capital expenditures were $116.3 million in 2023, $89.95 million in 2022, and $74.29 million in 2021.
- Forecasted capital expenditures are $145.9 million for 2024 and $145.8 million for 2025.
- Net capital outlays for hotel development-related activities are projected to decrease from $103.4 million in 2025 to a range of $20 million to $45 million in 2026, primarily focused on expanding the franchise system and improving hotel performance, including new construction brands like Cambria Hotels and Everhome Suites.
Peer Outperformance in Hotels, Resorts & Cruise Lines
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| CHH | Choice Hotels International | 1.8% | 13.9x | -7.9% | -14.3% | -17.1% | — |
| MAR | Marriott International | 5.5% | 35.9x | 35.2% | 87.4% | 140.4% | +157pp |
| H | Hyatt Hotels | 3.2% | 189.8x | 13.9% | 55.8% | 102.4% | +119pp |
| TNL | Travel+Leisure | 3.8% | 16.4x | 7.6% | 95.5% | 30.0% | +47pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -16.0% | 78.1% | 68.3% | LINC 279% · PRDO 222% · CVSA 221% |
| Homebuilding | 18 | -9.1% | 33.5% | 50.2% | GRBK 217% · PHM 161% · TOL 139% |
| Specialty Stores | 7 | 5.4% | 46.3% | 14.2% | SIG 33% · ASO 19% · FIVE 15% |
| Home Improvement Retail | 5 | -26.7% | -5.8% | -1.7% | HVT 10% · LOW 0% · HD -2% |
| Hotels, Resorts & Cruise Lines ← | 22 | 14.9% | 42.9% | -2.6% | RCL 173% · MAR 140% · HLT 134% |
| Automotive Retail | 18 | -21.3% | -2.6% | -7.6% | MUSA 223% · PAG 120% · ORLY 107% |
| Distributors | 4 | -12.2% | -26.1% | -14.0% | ARMK 139% · GPC 21% · LKQ -49% |
| Home Furnishings | 4 | -8.5% | 20.6% | -17.3% | SGI 33% · LZB 1% · MHK -35% |
| Footwear | 10 | 54.8% | 47.6% | -18.2% | WEYS 174% · DECK 21% · SHOO 18% |
| Specialized Consumer Services | 10 | -19.0% | 12.5% | -18.9% | HRB 97% · FTDR 70% · SCI 38% |
| Restaurants | 35 | -8.5% | -13.9% | -23.8% | EAT 300% · CAKE 139% · BH-A 103% |
| Leisure Products | 13 | -25.5% | -21.6% | -40.7% | GOLF 73% · HAS 12% · MCFT -20% |
| Casinos & Gaming | 21 | -16.4% | -22.3% | -41.5% | MCRI 96% · RRR 29% · BYD 17% |
| Household Appliances | 18 | -7.0% | 0.3% | -42.2% | FLXS 206% · HBB 169% · KEQU 159% |
| Automotive Parts & Equipment | 38 | -16.9% | -16.0% | -42.3% | MOD 1632% · GTX 263% · CAAS 83% |
| Apparel Retail | 26 | -4.9% | 16.1% | -42.7% | ANF 236% · URBN 134% · ROST 114% |
| Apparel, Accessories & Luxury Goods | 28 | -9.4% | 6.9% | -43.6% | RL 231% · TPR 223% · ELA 212% |
| Leisure Facilities | 11 | -21.6% | -8.5% | -44.8% | OSW 130% · JAKK 117% · ESCA 22% |
| Computer & Electronics Retail | 3 | -4.7% | 41.6% | -45.9% | BBY 10% · GME -46% · UPBD -65% |
| Broadline Retail | 15 | -8.8% | 14.6% | -57.2% | DDS 304% · EBAY 61% · AMZN 46% |
| Automobile Manufacturers | 8 | -78.3% | -51.6% | -72.5% | GM 61% · TSLA 46% · F 25% |
| Consumer Electronics | 11 | -15.3% | -18.3% | -75.1% | AXIL 2253% · GRMN 89% · SONO -50% |
| Other Specialty Retail | 18 | -35.9% | -45.4% | -79.7% | TLF 106% · BBW 64% · WINA 58% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 130.00 |
| Mkt Cap | 10.1 |
| Rev LTM | 6,214 |
| Op Inc LTM | 634 |
| FCF LTM | 332 |
| FCF 3Y Avg | 316 |
| CFO LTM | 453 |
| CFO 3Y Avg | 430 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.1% |
| Rev Chg 3Y Avg | 4.3% |
| Rev Chg Q | 4.1% |
| QoQ Delta Rev Chg LTM | 1.1% |
| Op Inc Chg LTM | 7.0% |
| Op Inc Chg 3Y Avg | 2.3% |
| Op Mgn LTM | 19.5% |
| Op Mgn 3Y Avg | 18.9% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 13.8% |
| CFO/Rev 3Y Avg | 14.8% |
| FCF/Rev LTM | 9.4% |
| FCF/Rev 3Y Avg | 9.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 10.1 |
| P/S | 3.1 |
| P/Op Inc | 16.5 |
| P/EBIT | 16.6 |
| P/E | 30.4 |
| P/CFO | 22.7 |
| Total Yield | 4.5% |
| Dividend Yield | 0.6% |
| FCF Yield 3Y Avg | 3.1% |
| D/E | 0.4 |
| Net D/E | 0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -8.3% |
| 3M Rtn | -14.0% |
| 6M Rtn | 1.8% |
| 12M Rtn | 3.0% |
| 3Y Rtn | 29.7% |
| 1M Excs Rtn | -8.6% |
| 3M Excs Rtn | -18.7% |
| 6M Excs Rtn | -14.3% |
| 12M Excs Rtn | -11.0% |
| 3Y Excs Rtn | -46.9% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Hotel Franchising & Management | 1,473 | 1,471 | 1,444 | 1,299 | 1,026 |
| Corporate & Other | 137 | 126 | 111 | 109 | 46 |
| Intersegment Eliminations | -13 | -12 | -11 | -5 | -3 |
| Total | 1,597 | 1,585 | 1,544 | 1,402 | 1,069 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Hotel Franchising & Management | 603 | 584 | 509 | 553 | 485 |
| Intersegment Eliminations | 0 | 0 | 0 | 0 | 0 |
| Corporate & Other | -155 | -121 | -134 | -74 | -56 |
| Total | 448 | 464 | 375 | 479 | 429 |
| $ Mil | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|
| Franchising | 397 | 318 | 300 | 307 | 266 |
| Corporate and other | 316 | 325 | 254 | 203 | 181 |
| SkyTouch Technology | 4 | 4 | 2 | ||
| Total | 717 | 647 | 556 | 511 | 448 |
Price Behavior
| Market Price | $100.96 | |
| Market Cap ($ Bil) | 4.6 | |
| First Trading Date | 10/16/1996 | |
| Distance from 52W High | -17.1% | |
| 50 Days | 200 Days | |
| DMA Price | $105.49 | $105.41 |
| DMA Trend | up | down |
| Distance from DMA | -4.3% | -4.2% |
| 3M | 1YR | |
| Volatility | 31.3% | 37.5% |
| Downside Capture | 36.20 | 36.05 |
| Upside Capture | -17.94 | 19.81 |
| Correlation (SPY) | -15.5% | 14.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.67 | -0.79 | -0.07 | 0.27 | 0.41 | 0.68 |
| Up Beta | -1.23 | -2.21 | -0.57 | 0.41 | 0.81 | 0.77 |
| Down Beta | -3.50 | -1.19 | -0.19 | 0.35 | 0.53 | 0.67 |
| Up Capture | -55% | -28% | 4% | 11% | 6% | 21% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 10 | 21 | 33 | 67 | 118 | 380 |
| Down Capture | 103% | 17% | 32% | 25% | 39% | 89% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 11 | 20 | 30 | 59 | 132 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CHH | |
|---|---|---|---|---|
| CHH | -5.9% | 37.5% | -0.09 | - |
| Sector ETF (XLY) | -6.7% | 19.5% | -0.48 | 28.9% |
| Equity (SPY) | 16.7% | 13.0% | 0.92 | 14.7% |
| Gold (GLD) | 13.1% | 29.3% | 0.42 | -3.6% |
| Commodities (DBC) | 45.1% | 20.7% | 1.71 | -22.3% |
| Real Estate (VNQ) | 3.7% | 13.7% | 0.01 | 33.5% |
| Bitcoin (BTCUSD) | -24.8% | 44.8% | -0.51 | 8.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CHH | |
|---|---|---|---|---|
| CHH | -3.0% | 30.1% | -0.08 | - |
| Sector ETF (XLY) | 4.5% | 24.1% | 0.15 | 48.2% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 45.4% |
| Gold (GLD) | 19.0% | 18.8% | 0.82 | -0.5% |
| Commodities (DBC) | 10.6% | 19.6% | 0.42 | 3.2% |
| Real Estate (VNQ) | 0.7% | 18.9% | -0.07 | 41.4% |
| Bitcoin (BTCUSD) | 12.0% | 52.6% | 0.41 | 21.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CHH | |
|---|---|---|---|---|
| CHH | 9.0% | 29.9% | 0.34 | - |
| Sector ETF (XLY) | 12.1% | 22.2% | 0.50 | 54.9% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 54.3% |
| Gold (GLD) | 12.0% | 16.4% | 0.60 | 0.1% |
| Commodities (DBC) | 8.5% | 18.1% | 0.39 | 15.8% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 50.8% |
| Bitcoin (BTCUSD) | 63.7% | 66.2% | 1.03 | 14.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | 2.9% | -5.5% | -7.6% |
| 4/30/2026 | -15.6% | -10.4% | -7.2% |
| 2/19/2026 | 1.5% | -1.8% | -9.0% |
| 11/5/2025 | 6.0% | 6.5% | -6.3% |
| 8/6/2025 | -0.4% | -2.8% | -6.4% |
| 5/8/2025 | -3.6% | 1.2% | 2.3% |
| 2/20/2025 | 3.1% | -0.8% | -12.0% |
| 11/4/2024 | 1.1% | 4.4% | 7.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 9 | 10 |
| # Negative | 12 | 15 | 14 |
| Median Positive | 2.7% | 3.8% | 4.7% |
| Median Negative | -3.3% | -3.6% | -7.3% |
| Max Positive | 6.0% | 7.9% | 17.6% |
| Max Negative | -15.6% | -10.4% | -12.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | 2.9% | -5.5% | -7.6% |
| 4/30/2026 | -15.6% | -10.4% | -7.2% |
| 2/19/2026 | 1.5% | -1.8% | -9.0% |
| 11/5/2025 | 6.0% | 6.5% | -6.3% |
| 8/6/2025 | -0.4% | -2.8% | -6.4% |
| 5/8/2025 | -3.6% | 1.2% | 2.3% |
| 2/20/2025 | 3.1% | -0.8% | -12.0% |
| 11/4/2024 | 1.1% | 4.4% | 7.9% |
| 8/8/2024 | -2.0% | -3.6% | -0.7% |
| 5/8/2024 | -5.3% | -3.1% | -7.4% |
| 2/20/2024 | -2.8% | -4.5% | 9.8% |
| 11/7/2023 | 2.0% | -1.6% | -2.3% |
| 8/8/2023 | 2.5% | 3.8% | 0.5% |
| 5/9/2023 | -2.9% | -5.4% | -8.7% |
| 2/15/2023 | 3.4% | -4.8% | -7.5% |
| 11/7/2022 | -9.1% | -4.6% | -8.3% |
| 8/4/2022 | -4.4% | -3.3% | -5.4% |
| 5/10/2022 | 4.0% | 0.4% | 3.0% |
| 2/16/2022 | -2.2% | -7.0% | -6.6% |
| 11/4/2021 | 1.5% | 4.5% | 1.5% |
| 8/5/2021 | 3.7% | 3.1% | 4.5% |
| 5/10/2021 | -0.8% | 3.4% | 6.5% |
| 2/17/2021 | -3.6% | -0.2% | 5.0% |
| 11/5/2020 | 1.7% | 7.9% | 17.6% |
| SUMMARY STATS | |||
| # Positive | 12 | 9 | 10 |
| # Negative | 12 | 15 | 14 |
| Median Positive | 2.7% | 3.8% | 4.7% |
| Median Negative | -3.3% | -3.6% | -7.3% |
| Max Positive | 6.0% | 7.9% | 17.6% |
| Max Negative | -15.6% | -10.4% | -12.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/19/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/19/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 02/24/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/10/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 03/02/2020 | 10-K |
| 09/30/2019 | 11/05/2019 | 10-Q |
Recent Forward Guidance
Updated 8/6/2026Latest: Q2 2026 Earnings Reported 8/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Global RevPAR growth | Reported | 0.0% | 0.5% | 1.0% | 1.0% | Raised | Guidance: -0.5% for 2026 | |
| 2026 U.S. RevPAR growth | Reported | 0.0% | 0.63% | 1.25% | 1.1% | Raised | Guidance: -0.5% for 2026 | |
| 2026 Global net system rooms growth | Reported | 1.5% | 0.5% | Raised | Guidance: 1.0% for 2026 | |||
| 2026 Adjusted EBITDA | Reported | 635.00 Mil | 642.50 Mil | 650.00 Mil | 0.5% | Raised | Guidance: 639.50 Mil for 2026 | |
| 2026 Net income | Reported | 230.00 Mil | 235.50 Mil | 241.00 Mil | -12.8% | Lowered | Guidance: 270.00 Mil for 2026 | |
| 2026 Adjusted net income | Reported | 312.00 Mil | 317.50 Mil | 323.00 Mil | -2.3% | Lowered | Guidance: 325.00 Mil for 2026 | |
| 2026 Diluted EPS | Reported | 5.07 | 5.19 | 5.31 | -11.0% | Lowered | Guidance: 5.83 for 2026 | |
| 2026 Adjusted diluted EPS | Reported | 6.86 | 6.98 | 7.1 | -0.7% | Lowered | Guidance: 7.03 for 2026 | |
Prior: Q1 2026 Earnings Reported 4/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Global RevPAR growth | Reported | -2.0% | -0.5% | 1.0% | 0 | Affirmed | Guidance: -0.5% for 2026 | |
| 2026 U.S. RevPAR growth | Reported | -2.0% | -0.5% | 1.0% | 0 | Affirmed | Guidance: -0.5% for 2026 | |
| 2026 Global net system rooms growth | Reported | 1.0% | 0 | Affirmed | Guidance: 1.0% for 2026 | |||
| 2026 Net capital outlays | Reported | 20.00 Mil | 32.50 Mil | 45.00 Mil | 0 | Affirmed | Guidance: 32.50 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 632.00 Mil | 639.50 Mil | 647.00 Mil | 0 | Affirmed | Guidance: 639.50 Mil for 2026 | |
| 2026 Net income | Reported | 265.00 Mil | 270.00 Mil | 275.00 Mil | 0 | Affirmed | Guidance: 270.00 Mil for 2026 | |
| 2026 Adjusted net income | Reported | 320.00 Mil | 325.00 Mil | 330.00 Mil | ||||
| 2026 Diluted EPS | Reported | 5.72 | 5.83 | 5.94 | 0 | Affirmed | Guidance: 5.83 for 2026 | |
| 2026 Adjusted diluted EPS | Reported | 6.92 | 7.03 | 7.14 | 0 | Affirmed | Guidance: 7.03 for 2026 | |
Q4 2025 Earnings Reported 2/19/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Global RevPAR growth | Reported | -2.0% | -0.5% | 1.0% | ||||
| 2026 U.S. RevPAR growth | Reported | -2.0% | -0.5% | 1.0% | 2.0% | Higher New | Actual: -2.5% for 2025 | |
| 2026 Global net system rooms growth | Reported | 1.0% | 0.0% | Same New | Actual: 1.0% for 2025 | |||
| 2026 Net capital outlays | Reported | 20.00 Mil | 32.50 Mil | 45.00 Mil | ||||
| 2026 Adjusted EBITDA | Reported | 632.00 Mil | 639.50 Mil | 647.00 Mil | 2.2% | Higher New | Actual: 626.00 Mil for 2025 | |
| 2026 Net Income | Reported | 265.00 Mil | 270.00 Mil | 275.00 Mil | -25.4% | Lower New | Actual: 362.00 Mil for 2025 | |
| 2026 Diluted EPS | Reported | 5.72 | 5.83 | 5.94 | -24.3% | Lower New | Actual: 7.71 for 2025 | |
| 2026 Adjusted Diluted EPS | Reported | 6.92 | 7.03 | 7.14 | 1.4% | Higher New | Actual: 6.93 for 2025 | |
Q3 2025 Earnings Reported 11/5/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 U.S. RevPAR growth | Reported | -3.0% | -2.5% | -2.0% | -1.0% | Lowered | Guidance: -1.5% for 2025 | |
| 2025 Global net system rooms growth | Reported | 1.0% | ||||||
| 2025 Adjusted EBITDA | Reported | 620.00 Mil | 626.00 Mil | 632.00 Mil | 0.2% | Raised | Guidance: 625.00 Mil for 2025 | |
| 2025 Net Income | Reported | 353.00 Mil | 362.00 Mil | 371.00 Mil | 34.9% | Raised | Guidance: 268.40 Mil for 2025 | |
| 2025 Adjusted Net Income | Reported | 320.00 Mil | 325.50 Mil | 331.00 Mil | -1.8% | Lowered | Guidance: 331.50 Mil for 2025 | |
| 2025 Diluted EPS | Reported | 7.52 | 7.71 | 7.89 | 35.2% | Raised | Guidance: 5.7 for 2025 | |
| 2025 Adjusted Diluted EPS | Reported | 6.82 | 6.93 | 7.05 | -1.5% | Lowered | Guidance: 7.04 for 2025 | |
Insider Activity
Updated 8/18/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Oaksmith, Scott E | SVP, Chief Financial Officer | Direct | Sell | 6182026 | 115.00 | 2,000 | 230,000 | 3,814,780 | Form |
| 2 | Oaksmith, Scott E | SVP, Chief Financial Officer | Direct | Sell | 6152026 | 110.00 | 2,000 | 220,000 | 3,868,920 | Form |
| 3 | Dragisich, Dominic | Interim CEO | Direct | Sell | 5282026 | 114.25 | 22,621 | 2,584,484 | 9,323,725 | Form |
| 4 | Oaksmith, Scott E | SVP, Chief Financial Officer | Direct | Sell | 3192026 | 100.00 | 1,603 | 160,300 | 3,717,200 | Form |
| 5 | Oaksmith, Scott E | SVP, Chief Financial Officer | Direct | Sell | 3192026 | 100.07 | 600 | 60,042 | 3,880,214 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Oaksmith, Scott E | SVP, Chief Financial Officer | Direct | Sell | 6182026 | 115.00 | 2,000 | 230,000 | 3,814,780 | Form |
| 2 | Oaksmith, Scott E | SVP, Chief Financial Officer | Direct | Sell | 6152026 | 110.00 | 2,000 | 220,000 | 3,868,920 | Form |
| 3 | Dragisich, Dominic | Interim CEO | Direct | Sell | 5282026 | 114.25 | 22,621 | 2,584,484 | 9,323,725 | Form |
| 4 | Oaksmith, Scott E | SVP, Chief Financial Officer | Direct | Sell | 3192026 | 100.00 | 1,603 | 160,300 | 3,717,200 | Form |
| 5 | Oaksmith, Scott E | SVP, Chief Financial Officer | Direct | Sell | 3192026 | 100.07 | 600 | 60,042 | 3,880,214 | Form |
| 6 | Wu, Simone | Senior Vice President | Direct | Sell | 2042026 | 101.56 | 8,080 | 820,579 | 4,956,279 | Form |
Investor Activity (13F)
Updated Sep 25, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Hotels, Resorts & Cruise Lines Resources |
| Skift |
| Hotel News Now |
| Cruise Industry News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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