Nov 2, 8:07 AM ET
Choice Hotels International reported third-quarter 2026 net income of $58 million, down from $180 million a year earlier due to prior-year acquisition gains and current-year charges. Adjusted EBITDA rose 1% to $193 million, and the company raised its full-year RevPAR outlook and adjusted EBITDA guidance range. Additionally, the company acquired Harvest Hosts for approximately $130 million on October 1, 2026.
- Net income was $58 million, or $1.28 per diluted share, for the third quarter ended September 30, 2026.
- Adjusted EBITDA totaled $193 million and adjusted diluted EPS reached $2.33 for the third quarter.
- U.S. RevPAR increased 3.8% in the third quarter compared to the same period in 2025.
- The company acquired Harvest Hosts on October 1, 2026, for approximately $130 million.
Read the filing on SEC.gov ↗
Oct 1, 9:00 AM ET
Choice Hotels said its Chief Human Resources Officer, Patrick Cimerola, will step down from the CHRO role at the end of 2026 and serve as a special advisor through June 30, 2027. He will receive a base salary of $25,000 per month in that role and will not be eligible for new equity awards or a 2027 cash bonus, while previously granted equity awards continue to vest under plan terms.
- Cimerola transitions from CHRO at the end of 2026; special advisor role runs from January 1, 2027 to the Separation Date of June 30, 2027
- Advisor pay is $25,000 per month, with continued benefit plan and perquisite participation
- Not eligible for future equity grants or a 2027 fiscal year cash bonus; existing unvested awards continue to vest
- On separation, benefits will follow a termination without cause under his 2011 agreement, as amended December 31, 2025, based on his base salary in effect December 31, 2026
Read the filing on SEC.gov ↗
Aug 31, 9:05 AM ET
Choice Hotels appointed Dominic Dragisich, its interim CEO since May 20, 2026, as president and CEO and as a director, effective August 31, 2026. Former President and CEO Patrick Pacious resigned from the board on the same date, ending his transitional advisory role. The filing sets out a $1,000,000 base salary and enhanced severance terms for Dragisich, which shareholders may track in future proxy disclosures.
- Dragisich, age 44, was previously Chief Financial Officer from March 2017 to September 2023 and has been interim CEO since May 20, 2026.
- Base salary of $1,000,000, short-term incentive target of 150% of base salary, and a minimum 2027 long-term incentive award value of at least $4,000,000.
- One-time restricted stock unit award with a grant date value of $1,000,000, cliff vesting on the third anniversary of the grant date.
- Severance agreement amended: lump sum severance of 200% of base salary and bonus, rising to 250% on a Change in Control Termination.
Read the filing on SEC.gov ↗
Aug 28, 4:15 PM ET
Choice Hotels International entered a $500 million unsecured term loan under a credit agreement with Wells Fargo Bank as administrative agent, dated August 28, 2026. The company says proceeds are expected for general corporate purposes, including working capital and debt repayment. The loan adds $500 million of direct debt and comes with covenants limiting dividends and stock repurchases, which may affect shareholder payouts.
- $500 million unsecured term loan with scheduled maturity on August 28, 2029, plus an optional one-year extension subject to lender consent
- Interest at SOFR (0.00% floor) plus 1.25%, or a base rate plus 0.25%, at the company's election
- Financial covenants require a fixed charge coverage ratio of at least 2.5 to 1.0 and a leverage ratio of not more than 4.5 to 1.0, with the fixed charge coverage requirement waived while the company holds an Investment Grade Rating
- Agreement restricts dividends and stock repurchases, and the filing lists Wells Fargo Bank, National Association as administrative agent
Read the filing on SEC.gov ↗
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