CHOICE HOTELS INTERNATIONAL INC

The company is primarily a hotel franchisor operating in 49 states, the District of Columbia, and 50 countries and territories. As of December 31, 2025, it had 7,575 hotels with 656,825 rooms open and operating, and a pipeline of 825 hotels with 77,862 rooms under construction, awaiting conversion or approved for development, or committed to future franchise development on outstanding master development agreements in its global system. Its brand names include Clarion®, Clarion Pointe™, Comfort Inn®, Comfort Suites®, Country Inn & Suites® by Radisson, Sleep Inn®, Quality®, Park Inn by Radisson®, Everhome Suites®, WoodSpring Suites®, MainStay Suites®, Suburban Studios™, Radisson Blu®, Park Plaza®, Cambria® Hotels, Ascend Collection®, Radisson RED®, Radisson Individuals®, Radisson®, Radisson Collection®, Radisson Inn & Suites SM , Econo Lodge®, and Rodeway Inn®. The hotel franchising business represents the Company's primary operations. The Company's U.S. operations are primarily conducted through direct franchising relationships, the ownership of 10 Cambria, four Everhome Suites, one Radisson RED, one Radisson Blu, and one Country Inn & Suites open and operating hotels, and the management of 13 hotels (inclusive of four owned hotels). Its international franchise operations are conducted through a combination of direct franchising and master franchising relationships, where master franchisees sub-license the use of its brands in specific geographic regions, usually for a fee. Revenues are primarily concentrated in the U.S. and are generated from hotel franchising operations, partnerships with qualified vendors and travel partners, hotel ownership, and other ancillary sources.