ROCKVILLE, Md. - Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, today announced the withdrawal of its previously issued first quarter and full year 2020 guidance, which did not contemplate the impact of the worldwide spread of the coronavirus (COVID-19).

Patrick Pacious, president and chief executive officer, Choice Hotels, said, "The safety and well-being of guests, franchisees and associates is our top priority during these challenging and unprecedented times. We are working closely with our hotel owners and operators in managing difficulties posed by COVID-19 and helping mitigate the impact on their business by providing best-in-class franchisee resources and implementing timely changes to policies and procedures aimed at extending relief and minimizing disruptions. Concurrently, we remain committed to serving guests and the communities across the world where our hotels operate."

"We are not able to precisely quantify the impact on our projected results at this time, given the uncertainty surrounding the impact of COVID-19 on the global hospitality industry — and specifically on the U.S. travel market, where the majority of our franchised hotels are located — as well as the rapidly changing circumstances impacting our hospitality franchising business, directly and indirectly. Consequently, we are withdrawing the guidance we previously issued on February 18, 2020. We will continue to closely monitor the situation and expect to provide an update during our first quarter earnings call based on the best information then available."

"We are confident in the continued resiliency of our asset-light franchise business model, the strength of our proven brands, and our ability to navigate through these trying times. We are deeply proud of Choice Hotels' contributions to the hotel industry and the foundation that we've built over the course of our more than 80-year history, all of which position the company for continued, long-term success."

About Choice Hotels®

Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. The challenger in the upscale segment and a leader in midscale and extended stay, Choice® has over 7,500 hotels, representing more than 630,000 rooms, in 46 countries and territories. A diverse portfolio of 22 brands that range from full-service upper upscale properties to midscale, extended stay and economy enables Choice® to meet travelers' needs in more places and for more occasions while driving more value for franchise owners and shareholders. The award-winning Choice Privileges® rewards program and co-brand credit card options provide members with a fast and easy way to earn reward nights and personalized perks. For more information, visit www.choicehotels.com.

Forward-Looking Statements This communication includes "forward-looking statements" about future events, including anticipated development and hotel openings. Such statements are subject to numerous risks and uncertainties, including construction delays, availability and cost of financing and the other "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.