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Choice Hotels (CHH) Expands Its Extended Stay Brand Portfolio
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Choice Hotels International, Inc. (CHH - Free Report) continues to expands its Extended-stay brand portfolio with the unveiling of Everhome Suites Glendale, developed by HighSide Companies.
Nestled in a convenient location near Luke Air Force Base, Boswell Medical Center, State Farm Stadium and the Loop 101, the Everhome Suites Glendale is a four-story, 122-room hotel set to open in third-quarter fiscal 2024. With a modern and efficient design, it aims to cater to the evolving needs of extended stay travelers.
More Focus on Expansion
Choice Hotels relies on expansion in domestic and international markets. In 2022, the company awarded 590 domestic franchise agreements (up 11% on a year-over-year basis). The company's well-segmented brand portfolio, Everhome Suites, includes economy, midscale, upscale and extended stay. In 2023, the newly-introduced Everhome Suites extended stay brand experienced a promising start, generating significant interest among developers with 62 ongoing projects.
As of March 31, the company's domestic and extended-stay domestic pipeline reached 925 hotels (approximately 89,000 rooms) and 475 hotels, up 11% and 28% on a year-over-year basis, respectively. The company's global pipeline increased 14% compared with the prior-year quarter’s levels, representing 988 hotels (over 96,000 rooms).
Image Source: Zacks Investment Research
In the past six months, shares of Choice Hotels have dropped 0.5% against the industry’s 7.8% rise.
Zacks Rank & Key Picks
Choice Hotels currently sports a Zacks Rank #3 (Hold).
Royal Caribbean Cruises Ltd. (RCL - Free Report) sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 26.4%, on average. Shares of RCL have gained 136.9% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates a rise of 48.5% and 162.8%, respectively, from the year-ago period’s levels.
Trip.com Group Limited (TCOM - Free Report) flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 147.9%, on average. Shares of TCOM have increased 65.9% in the past year.
The Zacks Consensus Estimate for TCOM’s 2023 sales and EPS indicates a rise of 87.9% and 334.5%, respectively, from the year-ago period’s levels.
Skechers U.S.A., Inc. (SKX - Free Report) sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 18.8%, on average. Shares of SKX have increased 42.5% in the past year.
The Zacks Consensus Estimate for SKX’s 2023 sales and EPS indicates a rise of 7.8% and 31.9%, respectively, from the year-ago period’s levels.
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Choice Hotels (CHH) Expands Its Extended Stay Brand Portfolio
Choice Hotels International, Inc. (CHH - Free Report) continues to expands its Extended-stay brand portfolio with the unveiling of Everhome Suites Glendale, developed by HighSide Companies.
Nestled in a convenient location near Luke Air Force Base, Boswell Medical Center, State Farm Stadium and the Loop 101, the Everhome Suites Glendale is a four-story, 122-room hotel set to open in third-quarter fiscal 2024. With a modern and efficient design, it aims to cater to the evolving needs of extended stay travelers.
More Focus on Expansion
Choice Hotels relies on expansion in domestic and international markets. In 2022, the company awarded 590 domestic franchise agreements (up 11% on a year-over-year basis). The company's well-segmented brand portfolio, Everhome Suites, includes economy, midscale, upscale and extended stay. In 2023, the newly-introduced Everhome Suites extended stay brand experienced a promising start, generating significant interest among developers with 62 ongoing projects.
As of March 31, the company's domestic and extended-stay domestic pipeline reached 925 hotels (approximately 89,000 rooms) and 475 hotels, up 11% and 28% on a year-over-year basis, respectively. The company's global pipeline increased 14% compared with the prior-year quarter’s levels, representing 988 hotels (over 96,000 rooms).
Image Source: Zacks Investment Research
In the past six months, shares of Choice Hotels have dropped 0.5% against the industry’s 7.8% rise.
Zacks Rank & Key Picks
Choice Hotels currently sports a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Consumer Discretionary sector are:
Royal Caribbean Cruises Ltd. (RCL - Free Report) sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 26.4%, on average. Shares of RCL have gained 136.9% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates a rise of 48.5% and 162.8%, respectively, from the year-ago period’s levels.
Trip.com Group Limited (TCOM - Free Report) flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 147.9%, on average. Shares of TCOM have increased 65.9% in the past year.
The Zacks Consensus Estimate for TCOM’s 2023 sales and EPS indicates a rise of 87.9% and 334.5%, respectively, from the year-ago period’s levels.
Skechers U.S.A., Inc. (SKX - Free Report) sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 18.8%, on average. Shares of SKX have increased 42.5% in the past year.
The Zacks Consensus Estimate for SKX’s 2023 sales and EPS indicates a rise of 7.8% and 31.9%, respectively, from the year-ago period’s levels.