CHOICE MOVING PAST FAILED WYNDHAM MERGER ATTEMPT

CHOICE HOTELS INTERNATIONAL appears to be moving on from its failed attempt to acquire Wyndham Hotels & Resorts, according to statements from its executive
team during the company’s first quarter earnings call May 8. The quarter saw overall positive performance for the company, including record growth in its pipeline
and $63.7 million adjusted net income, a 9 percent rise over the same period of last year.

The main portion of the call was dedicated to reporting the highlights of the quarter. For example, Choice’s EBITDA during the quarter grew to $124.3 million, a
first quarter record and a 17 percent increase compared to the same period of 2023. Its global pipeline as of March 31 increased 10 percent to a company record of
more than 115,000 rooms, including a 36 percent increase in the global pipeline for conversion rooms. Its domestic rooms pipeline increased by 11 percent since
Dec. 31, highlighted by a 59 percent increase for conversion rooms.