Press Release: Choice Hotels
March 14, 2002
SILVER SPRING, MD -- Choice Hotels International, Inc., (NYSE:CHH) yesterday announced that Steve Schultz, executive
vice president, domestic hotels, has decided to leave Choice at the end of May to pursue other business opportunities
closer to his home in Dallas.
As part of the transition, Choice also announced that Joe Squeri will lead the franchise sales effort in addition
to the finance area and will hold the title of senior vice president, development, and chief financial officer.
``In his time at Choice, Steve has provided strong direction for our franchise operations,'' said Charles A. Ledsinger,
Jr., president and chief executive officer. ``He brought a clear focus to what needed to be done to bring major
improvement to our brand portfolio, particularly the challenge of re-imaging almost 1,000 hotels. Steve and I have
worked together several times in our careers, and as CEO, I personally will miss his reliable and reasoned counsel.''
He added, ``Joe Squeri's role as chief financial officer has provided him with a unique perspective and involvement
in franchise sales that will greatly aid our future growth efforts.''
Schultz will stay on until May 31 to oversee the transition of leadership for the company's franchise sales, service
and brand management groups.
Choice Hotels franchises more than 5,000 hotels open and under development in 43 countries, marketing them under
the Comfort, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn and MainStay Suites brand names.
For more information on Choice, visit the company's Internet site at www.choicehotels.com.
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Contact:
Choice Hotels
John Hawkins, 301/592-5075
Fax: 301/592-6177
John_hawkins@choicehotels.com