Choice Hotels (CHH) whose midpriced and budget hotel brands include Comfort Inn, Quality Inn and Econo Lodge, announced it intended to offer $400 million of 10-year, asset-backed senior notes to help fund a $600 million special cash dividend. This is a special dividend of approximately $10.00 per share. The special dividend must be approved by the Board. There is no date scheduled for the special dividend. CHH has a current dividend yield of 1.85%. CHH has an equity summary score (weighted analyst consensus) of 8.3 out of 10 for a Bullish outlook.
Choice Hotels International, Inc. franchises more than 6,100 hotels, representing more than 495,000 rooms, in the United States and more than 30 other countries and territories. As of March 31, 2012, more than 350 hotels were under construction, awaiting conversion or approved for development in the United States, representing more than 30,000 rooms, and approximately 80 hotels, representing approximately 7,000 rooms, were under construction, awaiting conversion or approved for development in approximately 20 other countries and territories. The Company’s Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn brands serve guests worldwide.