Choice Hotels International Extends President and CEO Charles A. Ledsinger's Contract.SILVER SPRING, Md. -- Choice Hotels International, Inc. (NYSE NYSE See: New York Stock Exchange :CHH CHH Cartilage Hair Hypoplasia CHH Crustacean Hyperglycemic Hormone CHH Carter Holt Harvey Limited (Australia & New Zealand) CHH Chuan Hup Holdings Limited (Singapore) CHH Certified Hardware Hosineer ) today announced its Board of Directors has extended the employment agreement with Charles A. Ledsinger, Jr., president and chief executive officer, for four years. Under the extension, Ledsinger's contract will run until December 2009. "We are very pleased that Chuck Ledsinger will continue to provide his tremendous leadership for our company," said Stewart Bainum, Jr., board chairman. "Since Chuck joined Choice in 1998, the company has enjoyed its most dynamic growth and has secured its position as a premier lodging Lodging or holiday accommodation is a type of accommodation. People who travel and stay away from home for more than a day need lodging mainly for sleeping. Other purposes are safety, shelter from cold and rain, having a place to store luggage and being able to take a franchisor internationally. We have seen the company's average total annual shareholder return exceed 29% during his tenure. Today our franchise system includes more than 5,000 hotels in more than 40 countries, and Chuck's strategic vision has played an integral role in that success." "I deeply appreciate the Board's confidence in my leadership, in our strategy and in the exceptional management team we now have in place to guide the company," said Ledsinger. "Today Choice is extremely well-positioned to grow its brands and to provide our franchisees with greater opportunities to maximize their investment. I look forward to the next four years as we strive to take the company's performance to even higher levels." About Choice Hotels International Choice Hotels International is one of the world's largest lodging franchisors, marketing more than 5,000 hotels open or under development in more than 40 countries under the Cambria Suites, Clarion A family of application development systems for Windows from SoftVelocity, Inc., Pompano Beach, FL (www.softvelocity.com). Clarion provides a comprehensive set of tools for development, including a screen builder, 4GL and application generator. , Quality, Comfort Suites, Comfort Inn, Sleep Inn, MainStay Suites Mainstay Suites is a brand of mid-priced extended stay hotels franchised by Choice Hotels International. Mainstay Suites hotels provide comfortable and affordable accommodations to extended stay travelers as well as provide many amenities to its guests. , Suburban Extended Stay Hotel, Econo Lodge Econo Lodge is an economy motel chain based in the United States. Econo Lodge is the second largest brand in the Choice Hotels system. It is one of the best known names of its category and provides affordable rooms to budget travelers. and Rodeway Inn Rodeway Inn is an upper-priced economy chain of motels in the United States and Canada. Rodeway Inn is a brand of the Choice Hotels group. There are over 150 locations in North America. brand names. For more information on Choice, visit the company's web site at www.choicehotels.com. Choice Hotels, Choice Hotels International, Cambria Suites, Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge and Rodeway Inn are proprietary trademarks and service marks of Choice Hotels International. (C) 2005 Choice Hotels International, Inc. All rights reserved. Certain matters discussed in this press release may constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the federal securities law. Such statements are based on management's beliefs, assumptions and expectations, which in turn are based on information currently available to management. Actual performance and results could differ from those expressed or contemplated by the forward-looking statements due to a number of risks, uncertainties and other factors, many of which are beyond Choice's ability to predict or control. For further information on factors that could impact Choice and the statements contained herein, we refer you to the filings made by Choice with the Securities and Exchange Commission, including its registration statement on Form S-4 and report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2004. |
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