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Choice Hotels (CHH) Boosts Ascend Brand Portfolio With New Hotel
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Choice Hotels International, Inc. (CHH - Free Report) expands its upscale portfolio with the unveiling of Mayfair Hotel. This marks the company's fourth hotel in New York City under the Ascend Hotel Collection.
Situated in the heart of New York City's Theatre District, the seven-story (77-room) Mayfair Hotel is adjacent to Broadway's famous theaters. The hotel offers guests a brief walk to Times Square, Hell's Kitchen and other popular NYC attractions. The recently renovated property seamlessly blends historic charm with modern amenities, offering lavish guest rooms, locally-inspired décor and an on-site restaurant and lounge.
Connected by the award-winning loyalty program Choice Privileges, this new property, along with others in the upscale segment, allows members to earn and redeem points at more than 7,000 hotels in 46 countries. The Choice Privileges Mastercard accelerates point accumulation, offering more points on everyday purchases, including gas and groceries.
Focus on Expansion
CHH relies on expansion in domestic and international markets. The company reported sequential increases in its business and group travel demand, driven by increased extended vacations, household relocations and temporary remote work assignments. The transition of leisure travel into mainstream business added to the positives.
The company competes strongly in the upscale segment through its Ascend Hotel Collection, Radisson and Cambria Hotels brands. These upscale offerings cater to diverse guest needs across numerous locations, providing increased value for property owners. It is anticipated to accelerate Cambria and Ascend brands’ growth while expanding the Radisson portfolio.
In 2023, the newly-introduced Everhome Suites extended stay brand experienced a promising start, generating significant interest among developers with 60 ongoing projects. The domestic extended-stay pipeline increased 12% year over year to more than 47,000 rooms as of Sep 30, 2023. At the end of third-quarter 2023, the number of domestic hotels and rooms was more than 6,200 and 490,000, respectively. The company’s domestic pipeline reached about 86,000 rooms.
Image Source: Zacks Investment Research
In the past six months, shares of Choice Hotels have dropped 6.8% against the industry’s 5.7% rise. Although the company underperformed the industry in the said period, its focus on consistent expansion strategies through acquisitions and franchise agreements is likely to boost performance in the upcoming period.
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 28.3% on average. Shares of RCL have surged 102.1% 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 earnings per share (EPS) indicates a rise of 57.7% and 187.9%, respectively, from the year-ago period’s levels.
Live Nation Entertainment, Inc. (LYV - Free Report) flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 37.5% on average. Shares of LYV have increased 14.4% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS indicates a rise of 28.6% and 132.8%, respectively, from the year-ago period’s levels.
Skechers U.S.A., Inc. (SKX - Free Report) carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 50.3% on average. Shares of SKX have increased 40.8% in the past year.
The Zacks Consensus Estimate for SKX’s 2023 sales and EPS indicates a rise of 8.2% and 44.5%, respectively, from the year-ago period’s levels.
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Choice Hotels (CHH) Boosts Ascend Brand Portfolio With New Hotel
Choice Hotels International, Inc. (CHH - Free Report) expands its upscale portfolio with the unveiling of Mayfair Hotel. This marks the company's fourth hotel in New York City under the Ascend Hotel Collection.
Situated in the heart of New York City's Theatre District, the seven-story (77-room) Mayfair Hotel is adjacent to Broadway's famous theaters. The hotel offers guests a brief walk to Times Square, Hell's Kitchen and other popular NYC attractions. The recently renovated property seamlessly blends historic charm with modern amenities, offering lavish guest rooms, locally-inspired décor and an on-site restaurant and lounge.
Connected by the award-winning loyalty program Choice Privileges, this new property, along with others in the upscale segment, allows members to earn and redeem points at more than 7,000 hotels in 46 countries. The Choice Privileges Mastercard accelerates point accumulation, offering more points on everyday purchases, including gas and groceries.
Focus on Expansion
CHH relies on expansion in domestic and international markets. The company reported sequential increases in its business and group travel demand, driven by increased extended vacations, household relocations and temporary remote work assignments. The transition of leisure travel into mainstream business added to the positives.
The company competes strongly in the upscale segment through its Ascend Hotel Collection, Radisson and Cambria Hotels brands. These upscale offerings cater to diverse guest needs across numerous locations, providing increased value for property owners. It is anticipated to accelerate Cambria and Ascend brands’ growth while expanding the Radisson portfolio.
In 2023, the newly-introduced Everhome Suites extended stay brand experienced a promising start, generating significant interest among developers with 60 ongoing projects. The domestic extended-stay pipeline increased 12% year over year to more than 47,000 rooms as of Sep 30, 2023. At the end of third-quarter 2023, the number of domestic hotels and rooms was more than 6,200 and 490,000, respectively. The company’s domestic pipeline reached about 86,000 rooms.
Image Source: Zacks Investment Research
In the past six months, shares of Choice Hotels have dropped 6.8% against the industry’s 5.7% rise. Although the company underperformed the industry in the said period, its focus on consistent expansion strategies through acquisitions and franchise agreements is likely to boost performance in the upcoming period.
Zacks Rank & Key Picks
Choice Hotels currently sports a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Zacks Consumer Discretionary sector:
Royal Caribbean Cruises Ltd. (RCL - Free Report) sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 28.3% on average. Shares of RCL have surged 102.1% 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 earnings per share (EPS) indicates a rise of 57.7% and 187.9%, respectively, from the year-ago period’s levels.
Live Nation Entertainment, Inc. (LYV - Free Report) flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 37.5% on average. Shares of LYV have increased 14.4% in the past year.
The Zacks Consensus Estimate for LYV’s 2023 sales and EPS indicates a rise of 28.6% and 132.8%, respectively, from the year-ago period’s levels.
Skechers U.S.A., Inc. (SKX - Free Report) carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 50.3% on average. Shares of SKX have increased 40.8% in the past year.
The Zacks Consensus Estimate for SKX’s 2023 sales and EPS indicates a rise of 8.2% and 44.5%, respectively, from the year-ago period’s levels.