CHOICE HOTELS INTERNATIONAL INC /DE

Listed Company

CHHCIK 0001046311NYSELarge AcceleratedHotels & MotelsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.60B

Net Income

$369.95M

Total Assets

$2.92B

Equity

$181.23M

Shares Out

45.50M

Op. Cash Flow

$270.45M

Business

CHOICE HOTELS INTERNATIONAL INC /DE is primarily a hotel franchisor that develops, markets, and supports a global system of hotels. It offers franchising services, brand management, central reservations and distribution systems, loyalty program services, marketing and revenue management, property and yield management systems, and limited hotel ownership and management. The company operates across multiple brand families and business lines including franchising, owned and managed hotels, master franchising, and procurement/partner programs. Its brands and distribution channels serve guests and franchisees across the United States and in international regions via direct franchising, master franchise relationships, call centers, proprietary web and mobile platforms, global distribution systems, and third-party online travel agents.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	1,597	1,585	1,544	1,402	1,069
Selling, general and administrative	329	312	313	168	146
Business combination, diligence and transition costs	5	17	56	40	0
Depreciation and amortization	60	52	45	30	25
Total operating expenses	1,148	1,121	1,165	940	640
Impairment of long-lived assets	0	0	−4	0	−282,000
Operating income	448	464	375	479	429
Interest expense	91	87	64	44	—
Interest income	−6	−9	−8	−7	−5
Gain from an acquisition of a joint venture	−100	0	0	—	—
Gain on sale of assets	−713,000	0	0	—	—
Loss (gain) on extinguishment of debt	0	331,000	−4	0	0
Other (gains) losses, net	−7	2	−11	7	−5
Equity in net loss (gain) of affiliates	14	−12	−3	−2	16
Total other expenses and (income), net	−8	68	38	42	52
Income before income taxes	457	396	337	437	376
Income tax expense	87	96	78	105	88
Net income	370	300	259	332	289
Basic earnings per share (in dollars per share)	7.97	6.26	5.11	6.05	5.2
Diluted earnings per share (in dollars per share)	7.9	6.2	5.07	5.99	5.15

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	45	40	27	42	512
Accounts receivables (net of allowance for credit losses of $51,189 and $45,610, respectively)	207	177	196	217	153
Income taxes receivable	13	5	14	5	13
Notes receivable (net of allowance for credit losses of $7,462 and $5,805, respectively)	95	76	21	52	54
Prepaid expenses and other current assets	45	41	39	33	30
Total current assets	406	339	297	348	762
Property and equipment, net	649	604	493	427	377
Operating lease right-of-use assets	78	83	85	69	34
Goodwill	306	220	220	219	159
Intangible assets, net	1,082	884	811	742	312
Notes receivable (net of allowance for credit losses of $1,019 and $1,526, respectively)	12	33	79	56	66
Investments for employee benefit plans, at fair value	50	48	—	—	—
Investments in affiliates	135	117	71	31	28
Deferred income taxes	75	108	90	88	69
Other assets	124	94	93	91	90
Total assets	2,918	2,531	2,395	2,102	1,932
Accounts payable	156	135	131	119	81
Accrued expenses and other current liabilities	125	137	109	131	104
Deferred revenue	101	102	108	93	—
Liability for guest loyalty program	85	89	—	—	—
Total current liabilities	467	463	943	436	570
Long-term debt	1,906	1,769	1,069	1,201	844
Long-term deferred revenue	131	132	134	134	—
Deferred compensation and retirement plan obligations	57	53	46	37	39
Deferred income taxes	25	0	—	—	—
Operating lease liabilities	108	113	109	71	35
Liability for guest loyalty program	40	41	—	—	—
Other liabilities	3	5	7	6	9
Total liabilities	2,737	2,576	2,359	1,948	1,666
Commitments and contingencies (Note 16)	—	—	—	—	—
Common stock, $0.01 par value; 160,000,000 shares authorized; 95,065,638 shares issued at December 31, 2025 and December 31, 2024; 45,996,087 and 46,856,567 shares outstanding at December 31, 2025 and December 31, 2024, respectively	951,000	951,000	951,000	951,000	951,000
Additional paid-in-capital	404	370	331	298	259
Accumulated other comprehensive loss	−5	−6	−6	−5	−5
Treasury stock, at cost; 49,069,551 and 48,209,071 shares at December 31, 2025 and December 31, 2024, respectively	−2,536	−2,412	−2,047	−1,695	−1,265
Retained earnings	2,318	2,001	1,756	1,556	1,275
Total shareholders equity (deficit)	181	−45	36	155	266
Total liabilities and shareholders equity (deficit)	2,918	2,531	2,395	2,102	1,932

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization reimbursable expenses from franchised and managed properties	20	19	31	—	—
Franchise agreement acquisition cost amortization	32	29	20	16	13
Non-cash share-based compensation and other charges	38	43	47	43	36
Non-cash interest, investments, and affiliate income, net	−6	−7	−9	7	−14
Deferred income taxes	20	−19	−1	−20	−1
Equity in net loss (gain) of affiliates, less distributions received	20	−2	−2	489,000	24
Franchise agreement acquisition costs, net of reimbursements	−83	−112	−98	−55	−38
Change in working capital and other	−98	17	6	−5	23
Net cash provided by operating activities	270	319	297	367	384
Investments in other property and equipment	−39	−39	−48	−24	−74
Investments in owned hotel properties	−107	−107	−69	−66	—
Contributions to investments in affiliates	−94	−53	−39	−3	−3
Issuances of notes receivable	−7	−38	−4	−6	−20
Collections of notes receivable	7	32	11	975,000	213,000
Business acquisition, net of cash acquired	−73	0	0	−550	0
Proceeds from the sale of assets	52	0	0	167	6
Purchases of equity securities	0	0	−112	0	0
Proceeds from sales of equity securities	0	108	0	0	—
Distributions from sales of affiliates	45	16	900,000	0	16
Other items, net	−3	−4	−5	−6	−1
Net cash used in investing activities	−218	−85	−266	−442	−79
Net borrowings (repayments) pursuant to revolving credit facilities	133	112	−132	360	0
Proceeds from the issuance of long-term debt	0	594	500	0	—
Proceeds from economic development loans	2	0	0	—	—
Repayment of long-term debt	0	−500	0	−217	0
Debt issuance costs	0	−8	−2	−44,000	−365,000
Purchases of treasury stock	−138	−381	−363	−435	−13
Dividends paid	−53	−55	−56	−53	−25
Proceeds from the exercise of stock options	7	18	6	4	11
Net cash used in financing activities	−50	−222	−46	−394	−28
Net change in cash and cash equivalents	2	13	−15	−470	277
Effect of foreign exchange rate changes on cash and cash equivalents	3	301,000	197,000	−520,000	−224,000
Federal income taxes, net of refunds and transferable tax credits	65	86	71	—	—
State income taxes, net of refunds	14	18	21	—	—
Foreign income taxes, net of refunds	5	4	2	—	—
Interest, net of capitalized interest	90	67	61	47	44
Investments in property, equipment, and intangible assets recognized in accounts payable and accrued expense liabilities	18	23	10	5	4

Filings

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