Comfort Inn 2008 Annual Report Download - page 9

9
2008 ANNUAL REVIEW
Hotels Web site, which enables
travelers to access choicehotels.com
on any Web-enabled mobile device
such as cell phones and PDAs.
The company’s Board of Directors
appoints incoming president and chief
operating offi cer Stephen P. Joyce as
a director.
MAY Choice Privileges is
expanded to 10 countries in Europe,
with members now able to earn and
redeem points at over 270 Choice
brand properties in Belgium, the Czech
Republic, France, Germany, Ireland,
Italy, Portugal, Spain, Switzerland,
and the United Kingdom. By year-end,
the program will have over 7.5 million
members worldwide.
Choice’s 54th Annual Convention
is held in Las Vegas, Nevada. The
keynote speaker is acclaimed author
and spirituality expert Dr. Deepak
Chopra.
SEPTEMBER For its
fall promotion, the company offers
members of its Choice Privileges
program the opportunity to earn up
to $250 in free gas cards. Choice
Privileges members that stay at
Cambria Suites brand hotels can
receive triple airline rewards and
Amtrak Guest Rewards. Triple Choice
Privileges points are provided for
guests of economy and extended
stay brand hotels, starting with their
second qualifying stay.
The company announces a 9 percent
increase in its quarterly dividend for
shareholders, going from $0.17 to
$0.185 per share. This marks the fi fth
consecutive year the company has
increased its dividend.
In conjunction with its franchise
owners associations, Choice
celebrates the inaugural year of its
Awards for Property Excellence
(APEX) program, which honored over
100 individual hotel owners and staff
members from across the country for
their outstanding performance in a
number of different categories.
With gas prices approaching record
levels in advance of the summer travel
season, the company launches its
summer promotion, offering guests
the opportunity to earn free $50 gas
cards to stretch their travel dollars a
bit further.
JUNE The company announces
it has accelerated its previously
announced management succession
plan. Stephen P. Joyce assumes the
chief executive offi cer role effective
June 26, 2008, while Charles A.
Ledsinger, Jr. remains non-executive
vice chairman of the company's Board
of Directors.
JULY For the second quarter, the
company reports total revenue growth
of 7 percent and domestic unit growth
of 6.2percent over the prior year.
Choice enters into an area
representative agreement with
Ireland-based Kasterlee Limited for the
exclusive right to license and develop
Choice's Clarion brand in the United
Kingdom, Germany and Russia.