Choice Hotels International Inc – Buy Hotel Stocks
Hotels and the hospitality business have been one of the worst affected sectors due to the pandemic. The smaller independent businesses have faced a lot of economic hardship while the larger chains with stronger balance sheets have been able to pull themselves through the past months. One such chain is Choice Hotels International. If you are an investor looking to buy hotel stocks 2021, you might want to focus on large diversified hotel businesses with properties in multiple geographic locations. International businesses should preferably have locations in multiple continents because the pandemic still has not subsided across the globe. Certain countries are opening up while others are still some way off from vaccinating a sizeable majority of their population.
Background Information About Choice Hotels International
Choice Hotels International began operations in 1939 as Quality Courts United. It was a Florida-based nonprofit referral chain of seven motels. It then underwent several name changes. The business was called Quality Courts United in the 1960s and then it became Quality Courts Motels. In 1972, the name again changed to Quality Inns International. In 1990, the company finally became Choice Hotels International. The business was a pioneer of sorts, becoming the first to offer a range of hotel brands across multiple price points. Choice Hotels International went public in 1996. In 2020, Choice Hotels International had a presence in 41 countries across 7118 properties amounting to a shade under 600,000 rooms. Investors looking to buy hotel stocks may want to delve deeper into Choice Hotels International.
Buy Hotel Stocks 2021
Choice Hotels International trades on the New York stock exchange under the ticker symbol CHH. The stock closed at $120.25 on 1st July 2021. Over the preceding 6 months, the stock was up 15%. The price was not too far from the 52-week high of $123.77. The 52-week low was $78.83. The dividend yield on 1st July 2021 was 0.75%.
