Choice Hotels International Update on COVID-19 Business Impact
July 06, 2020 // Franchising.com // ROCKVILLE, Md. - As part of the ongoing evolution of its efforts to help ensure the long-term health of the business and its independently owned and operated hotels amid a significantly reduced consumer demand environment resulting from the COVID-19 pandemic, Choice Hotels International, Inc. (NYSE: CHH) has made the difficult decision to transition previously furloughed corporate roles in the United States to a reduction in workforce, effective July 1, 2020. Impacted associates will be eligible to receive severance packages and associated benefits, including outplacement support. The company has also extended employee furloughs in Europe through October 1, 2020. A hiring freeze remains in place for all non-critical positions globally.
About Choice Hotels
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. With more than 7,100 hotels, representing over 590,000 rooms, in over 40 countries and territories as of March 31, 2020, the Choice® family of hotel brands provide business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upscale, midscale, extended-stay and economy segments. The award-winning Choice Privileges® loyalty program offers members benefits ranging from everyday rewards to exceptional experiences.
This communication includes "forward-looking statements" about future events, including future business results and operations, including employee matters. Such statements are subject to numerous risks and uncertainties, including those detailed in "Risk Factors" described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, any of which could cause actual results to be materially different from our expectations.
© 2020 Choice Hotels International, Inc. All rights reserved.
SOURCE Choice Hotels
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