Choice Hotels Expects 10% Growth In 2024 Adj. EBITDA At Midpoint & More
Portfolio Pulse from Lekha Gupta
Choice Hotels International Inc (CHH) has provided an update on its strategy and 2023 and 2024 guidance. The company is expanding its franchise business and has exceeded its synergy targets with the integration of Radisson Hotels Americas. CHH has opened 107 hotels in 2023, a 39% increase YoY. The company reiterated its 2023 outlook and expects a 10% YoY growth in adjusted EBITDA for 2024. CHH also repurchased around 1.8 million shares worth over $220 million in H1 2023.
July 11, 2023 | 1:40 pm
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Choice Hotels (CHH) is expanding its franchise business and has exceeded its synergy targets with the integration of Radisson Hotels Americas. The company expects a 10% YoY growth in adjusted EBITDA for 2024.
The company's successful expansion of its franchise business and the exceeding of synergy targets with the integration of Radisson Hotels Americas indicate a strong operational performance. The company's expectation of a 10% YoY growth in adjusted EBITDA for 2024 also signals a positive financial outlook. These factors are likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100