Choice Hotels Repurchases Nearly 450,000 Shares to Date in 4th Quarter; 2.3 Million Shares Remain Under Board Authorized Repurchase Plan.

SILVER SPRING, Md. -- Choice Hotels International, Inc. (NYSE:CHH) today reported the following related to the Company's share repurchase program.

Between October 29, 2004 and November 11, 2004, the company purchased approximately 450,000 shares of common stock at a total cost of $22.1 million, representing 1.4% of the outstanding shares of the company. Year to date through November 11, 2004, the company purchased approximately 2.7 million shares of common stock at a total cost of $123 million. The company has remaining authorization to purchase up to 2.3 million shares. Since Choice announced its stock repurchase program on June 25, 1998, the company has purchased 32.1 million shares of common stock at an average price of $19.91 per share and a total cost of $638 million.

Choice Hotels International franchises more than 4,900 hotels, representing approximately 400,000 rooms, in the United States and 40 other countries and territories. As of September 30, 2004, 397 hotels are under development in the United States, representing 30,776 rooms, and an additional 95 hotels, representing 8,351 rooms, are under development in 22 countries and territories. Its Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn and MainStay Suites brands serve guests worldwide.

Certain matters discussed in this press release may constitute forward-looking statements 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 in 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 therein, we refer you to the filings made by Choice with the Securities and Exchange Commission, including its Form 10-K for the period ended December 31, 2003.

Additional corporate information may be found on the Choice Hotels' Internet site, which may be accessed at www.choicehotels.com.

Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn and MainStay Suites are registered trademarks, service marks and trade names of Choice Hotels International, Inc.