NORTH BETHESDA, Md. - Choice Hotels (NYSE:CHH) International, Inc. (NYSE: CHH), a key player in the global hospitality sector, has elevated Sireesha Kunduri to the position of Chief of Product Engineering, a move that underscores the company's ongoing commitment to technology advancement in the industry.
Kunduri, who has been with Choice Hotels since 2016, previously held the role of Director, Engineering before her promotion to Vice President, Engineering in 2019. Her latest promotion places her at the helm of the software product delivery functions within the company's Technology Team. This team plays a crucial role in supporting the technology needs across Choice's extensive portfolio of hotel brands, revenue management systems, and membership rewards programs.
Brian Kirkland, Chief Information Officer of Choice Hotels, expressed confidence in Kunduri's ability to elevate the company's technology products, citing her significant contributions to the organization's innovative edge. Kirkland highlighted Choice Hotels' position at the crossroads of hospitality, franchising, and technology, emphasizing Kunduri's pivotal role in driving technological innovation.
Choice Hotels has a legacy of pioneering new technology within the hospitality industry, with several notable achievements. The company was the first to introduce a hotel website with real-time rate and availability information in 1995 and the first cloud-based property management system in 2003.
With over 7,500 hotels and more than 630,000 rooms in 46 countries and territories, Choice Hotels boasts a diverse portfolio of 22 brands catering to various market segments, from full-service upper upscale properties to midscale, extended stay, and economy options. The company also offers the Choice Privileges rewards program and co-branded credit card options, aimed at providing members with rapid ways to earn reward nights and personalized perks.
This announcement is based on a press release statement from Choice Hotels International, Inc.
InvestingPro Insights
As Choice Hotels International, Inc. (NYSE: CHH) continues to make strides in the hospitality technology space with the promotion of Sireesha Kunduri, the company's financial health and market performance provide additional context for investors. With a market capitalization of $6.27 billion and a robust gross profit margin of 90.6% over the last twelve months as of Q4 2023, Choice Hotels demonstrates significant financial strength in its operations.
An InvestingPro Tip worth noting is that management has been actively engaging in share buybacks, a sign of confidence in the company's future prospects. Furthermore, Choice Hotels has consistently paid dividends for 21 consecutive years, reflecting a commitment to shareholder returns. This consistency is complemented by a recent dividend growth of 21.05%, showcasing the company's ability to increase shareholder value over time.
From a valuation perspective, the company is trading at a high Price / Book multiple of 175.84, which may suggest a premium market valuation. Despite this, analysts are optimistic about the company's profitability, predicting that Choice Hotels will remain profitable this year. The company's return over the last month has been strong, with a 12.71% price total return, indicating positive investor sentiment.
For those looking for a deeper dive into Choice Hotels' financials and market performance, there are 6 additional InvestingPro Tips available on the platform, which can be accessed with coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
InvestingPro Data metrics reveal a P/E ratio of 25.01 and an adjusted P/E ratio for the last twelve months of 20.83. The revenue growth for the same period stands at 8.7%, indicating steady top-line expansion. These metrics, combined with the strategic leadership appointments and technological advancements, paint a comprehensive picture of Choice Hotels' potential for current and prospective investors.
The next earnings date is set for May 7, 2024, which will provide further insights into the company's financial trajectory and the impact of its technological initiatives on its overall growth strategy.
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