Choice Hotels Wins Prestigious Hotel Visionary Award
Hospitality Technology Recognizes Leading-Edge Revenue Management System ChoiceMAX in Enterprise Innovator Category
ROCKVILLE, Md. - Building on its more than eight decades of innovation, Choice Hotels International, Inc. (NYSE: CHH) was named a Hotel Visionary Award winner by Hospitality Technology in the Enterprise Innovator category for its new revenue management system, ChoiceMAX. The award, which honors hotels that deliver enterprise solutions, was presented to Choice at HT-NEXT 2021 in Scottsdale, Arizona. HT-NEXT is produced by Hospitality Technology and Hospitality Technology Next Generation.
Introduced in March 2021, ChoiceMAX was designed to help franchisees effectively manage hotel room rates, channels and inventory. The system is currently live across more than 5,000 Choice-branded hotels and over 10,000 users are trained and using the tool to make pricing decisions. As the industry's first mobile-enabled revenue management system, ChoiceMAX offers a user-friendly interface that helps hotel owners save time and optimize their revenue management strategy, including:
- 365-day optimization window, including intra-day optimization with rates updated four times per day.
- Real-time alerts that can be customized to stay up to date on price changes or when competitors make adjustments.
- Automated delivery and implementation of pricing decisions.
- Enhanced forecasting including potential group bookings.
- Setting price floors and ceilings by day of week and season.
"Franchisees are at the core of everything Choice Hotels does, and the company is committed to helping them along the road to economic recovery and beyond," said Douglas Lisi, vice president, revenue management, Choice Hotels. "We know the pandemic posed one of the greatest challenges our industry has ever faced, making it more important than ever to provide franchisees with impactful solutions. As such, Choice launched a new revenue management system, ChoiceMAX, to help hotels optimize their pricing structure which may ultimately increase revenue production."
Choice Hotels has been an industry leader in innovation over the course of its more than 80-year history. It was the first hotel company to offer online booking, roll out a global iPhone application, and launch a soft brand in the Ascend Hotel Collection. More recently, Choice Hotels introduced the industry's first cloud-based global reservation system and distribution platform in over 30 years. The company also pursues strategic relationships with best-in-class technology companies, including Amazon Web Services, which enhances its systems' performance, scalability, and reliability. Further, Choice Hotels became the first hotel company to work with Google to launch voice-enabled booking, in addition to enabling Book on Google, a tool that allows travelers to seamlessly search, select, and reserve hotel rooms at any of Choice's hotel brands.
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.
