Скачать или смотреть Choice Hotels: A Franchise Giant's Strategic Evolution

This document provides an in-depth investment research analysis of Choice Hotels International Inc. (CHH), examining its asset-light franchising business model which focuses on generating revenue from fees and royalties rather than hotel ownership. The analysis covers the company's strategic shift towards higher-margin upscale and extended-stay segments, its financial performance and growth drivers, and the current competitive landscape within the lodging industry. It also assesses key risks and opportunities, management quality, capital allocation strategies, and a valuation analysis compared to historical performance and industry peers, concluding with an investment thesis synthesis for potential investors.