Choice Hotels International, Inc. (CHH)
UnterbewertetFundamental
69
Kurs
$101.42
Marktkapitalisierung
$4.54B
Teil 1 · Was das Unternehmen wert ist
Übersicht
Choice Hotels does not own or run hotels: it licenses brand names such as Comfort Inn, Quality Inn and Radisson to independent owners, who pay to use the brand, reservation system and marketing in exchange for following its operating standards. The company owns a small number of hotels directly, but its business is franchising — collecting fees from thousands of properties it does not operate rather than running rooms itself.
Wie das Geld verdient wird
Most revenue is franchise and management fees, charged as a percentage of each hotel's room revenue plus flat platform fees, so it rises and falls with how full and how expensive franchisees' rooms are, not with Choice's own costs. A large additional revenue line is money collected from franchisees for marketing and reservation systems and then spent on their behalf — this passes through the income statement without adding profit. A small owned-hotel portfolio and other services round out the total.
Umsatz nach Segment
Royalty and initial franchise fees, plus fees from managed properties — the core, high-margin business of licensing the brand.
Money collected from franchisees to fund shared marketing and the central reservation system, then spent on those same services — a pass-through, not a profit source.
Room and other revenue from the small number of hotels Choice owns and operates directly, unlike the rest of its franchised system.
Fees from co-branded credit cards, procurement programs and other services sold to the franchise network beyond the core royalty.
Residual revenue lines not captured in the categories above.
Wettbewerbsvorteil
Wechselkosten · SchmalA hotel owner who signs a franchise agreement commits for years and invests in brand-standard renovations, so switching brands means losing that investment and the reservations that come through Choice's system and loyalty program. The moat is real but narrow: at renewal, owners can and do move to a rival chain if the economics no longer work.
Was die Nachfrage antreibt
ZyklischFranchise fees are a percentage of room revenue, so they track how much people travel and how much hotels can charge — both of which fall in a weak economy. Growth in the number of franchised hotels also depends on owners being able to get construction financing, which tightens in the same downturns that reduce travel.
Wichtigste Risiken
- Dependence on franchisee performance — Because fees are based on franchisees' room revenue, Choice's results depend on the ability of thousands of independent owners to compete for guests and to obtain financing to build or renovate — factors the company does not directly control.
- Economic weakness reduces travel — The company states that a weak U.S. or international economy reduces demand for hotel rooms and for new hotel development, which lowers both existing royalty fees and the pipeline of new franchised properties.
- Competition for franchisees — Growing the franchise system means competing against other chains for the same hotel owners, which can force Choice to lower fees or offer loans and guarantees as incentives, eating into the margin on new growth.
Die Argumente dafür
Buyers argue that a franchise model needs almost no capital of its own, converts room-revenue growth across thousands of hotels into high-margin fees, and that the brand and reservation system create enough switching cost to keep the franchise base growing net of defections.
Die Argumente dagegen
Sellers fear that a travel downturn hits royalty fees directly, that competition among hotel chains for the same owners compresses fee rates over time, and that the large reimbursable-cost revenue line flatters the top line without adding real profit.
Written by the editors, published on 18. August 2026
Direct competitors
Who this company fights with for the same customers
Generated on 18. September 2026 with claude-haiku-4-5 — shared with all users
Wyndham is the other large pure-play US hotel franchisor in the economy and midscale segments, and its Days Inn, Baymont, La Quinta, Ramada and Echo Suites brands are named in Choice's own 10-K as the direct rivals of Quality Inn, Clarion and WoodSpring Suites.
Marriott competes for the same hotel developers and franchisees with Fairfield against Choice's Comfort brands, Courtyard and AC Hotels against Cambria, and StudioRes in midscale extended stay.
Hilton's Hampton and Hilton Garden Inn are the reference brands in the upper-midscale and upscale segments where Choice places Comfort and Cambria, and LivSmart and LivAway target the same extended-stay guests as WoodSpring and Everhome Suites.
Hyatt Place is cited by Choice as a principal competitor of Cambria Hotels, the upscale brand Choice is pushing as it moves its portfolio upmarket.
IHG franchises Holiday Inn Express, Holiday Inn, Candlewood Suites and Crowne Plaza, which Choice's annual report lists as the competing brands for Comfort, Clarion, Everhome Suites and Radisson.
A member-owned, privately held US chain whose Best Western and SureStay brands compete for the same independent hotel owners and roadside midscale and economy travellers as Quality Inn and Econo Lodge.
Bilanz & Liquidität
Umsatz
$1.62B
Letzte 12 Monate (bis 30.6.2026)
Nettogewinn
$328M
Letzte 12 Monate (bis 30.6.2026)
Freier Cashflow
-
Gesamtes Eigenkapital
$181M
Gesamtverbindlichkeiten
$2.74B
Current Ratio
0.93
Zinsdeckungsgrad
4.28
Schulden/EBITDA
4.15
Gewinn je Aktie
Umsatz & Nettogewinn
Freier Cashflow
Ertragsaufschlüsselung
Historische Aufstellung
Margen im Zeitverlauf
Verschuldung im Zeitverlauf
Wie schwer die Schulden wiegen
Wachstumsraster
Wachstum — Umsatz
Innerer-Wert-Schätzung
Innerer Wert
$180.35
Aktueller Kurs
$101.42
Sicherheitsmarge
+43.8%
Innerer-Wert-Spanne
$117.23 - $243.47
Streubreite zwischen den verwendeten Bewertungsmethoden, kein statistisch kalibriertes Konfidenzintervall.
Bewertungsmethoden
Bewertungskennzahlen
P/E-Verhältnis
14.51
ROE
204.1%
P/B-Verhältnis
32.42
P/FCF
-
Bruttomarge
-
ROIC
12.8%
Rentabilitäts-Radar
Wertschöpfung (Wettbewerbsvorteil)
ROIC
12.8%
WACC
6.7%
ROIC − WACC
+6.1 pp
Der ROIC übersteigt die Kapitalkosten: Das Unternehmen schafft Wert für die Aktionäre.
Fundamentalanalyse-Kriterien
Bestanden (15)
- EPS shows upward trend
- EPS CAGR 9.89%
- Price CAGR 6.13%
- ROIC 12.8%
- Operating Margin 25.2%
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- ROE 215.1%
- Revenue Growth 5Y 15.6%
- PEG Ratio 0.32
- Share Dilution -3.1%
- Net Margin Trend 20.3% vs 19.5%
- Piotroski F-Score 6/9
Nicht bestanden (8)
- P/B Ratio 32.42
- Debt/Equity ratio
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
- Analyst Consensus 13% Buy
- Earnings Surprise avg -4.8%
- Earnings Quality (OCF/NI) 0.68
Nicht verfügbar (5)
- Gross Margin NaN%
- P/FCF NaN
- Dividend Payout NaN%
- Positive Free Cash Flow
- CapEx intensity
Piotroski F-Score
Gemischte Signale: Einige Bereiche bedürfen Aufmerksamkeit
Gewinnqualität
Mittel: Gewisse Differenz zwischen Gewinn und Cashflow
Aktienverwässerung
Aktienrückkäufe. Aktionärsfreundlich
Institutionelle Beteiligungen
Unternehmensführung
Führungsteam
| Name | Position | Alter |
|---|---|---|
| Mr. Dominic E. Dragisich | President, CEO & Director | 43 |
| Mr. Scott E. Oaksmith | Chief Financial Officer | 53 |
| Mr. Patrick J. Cimerola | Chief Human Resources Officer | 56 |
| Mr. Tony Pallas | Chief Technology Officer | - |
| Mr. Jeffrey W. Lobb | Senior VP, General Counsel & Secretary | - |
| Ms. Noha Abdalla | Chief Marketing Officer | 47 |
| Mr. David A. Pepper | Chief Development Officer | 58 |
| Mr. Raul Ramirez Sanchez | Chief Segment & International Operations Officer | 41 |
| Ms. Megan Brumagim | VP of Upscale Brands & Chief Sustainability Officer | - |
| Ms. Sally Bartas | Chief Talent & Culture Officer | - |
Prüfungsrisiko
3
Vorstandsrisiko
7
Vergütungsrisiko
5
Aktionärsrechterisiko
5
Teil 2 · Der Preis und der Einstiegszeitpunkt
Dieser Teil sagt nicht, ob das Unternehmen etwas taugt: Er hilft bei der Wahl des Kaufzeitpunkts, nachdem die Fundamentaldaten überzeugt haben. Enthalten: technische Analyse, Potenzial, historische Drawdowns, Gamma-Exposure.
Dokumente
- Dokument ansehen
Jahresbericht (10-K)
Ein jährlicher Überblick über das Geschäft, die Finanzergebnisse und die Risiken des Unternehmens.
Eingereicht am 2026-02-19
- Dokument ansehen
Quartalsbericht (10-Q)
Ein Update zur finanziellen Entwicklung der letzten drei Monate.
Eingereicht am 2026-08-05
- Dokument ansehen
Ad-hoc-Meldung (8-K)
Eine Mitteilung über ein wichtiges Ereignis, etwa einen Führungswechsel oder eine bedeutende Ankündigung.
Eingereicht am 2026-10-01
via SEC EDGAR
Ertragshistorie
via SEC EDGAR
Latest News
Recent headlines for CHH, sourced from Markets Gazette.
- 3/2/2026NEUTRALChoice Hotels Senior VP Empties Out Stock Options Amid Retirement
Choice Hotels International saw a senior executive exercise all her remaining stock options in early February, ahead of her planned retirement in 2026. While this move is a common practice for executives nearing retirement, it does not provide a clear directional signal for the stock. Investors should interpret the event as part of the executive's personal financial planning and compensation management, rather than an indicator of changes in the company's operational or strategic outlook. There are no elements suggesting an immediate impact on Choice Hotels' valuation or future performance, maintaining a neutral view on the stock.
via Markets Gazette