CHH: CEO Transition Announced. We Are Curious to See What Is Next and if the Next CEO Is from Outside CHH. No Change to Rating.

Research evidence excerpt

CHH: CEO Transition Announced. We Are Curious to See What Is Next and if the Next CEO Is from Outside CHH. No Change to Rating.

Equity Research

Flash Comment — May 20, 2026

Lodging

Choice Hotels International, Inc.

CEO Transition Announced. We Are Curious to See What Is Underweight

Next and if the Next CEO Is from Outside CHH. No Change Price Target: $98.00

to Rating.

Ticker CHH

Our Call Upside/(Downside) to Target (12.7)%

CHH announced that Patrick Pacious has stepped down as CEO but will remain as an Price (05/20/2026) $112.26

advisor through 8/31. Dominic Dragisich, current Chief Growth & Strategy Officer, has 52 Week Range $84.04 - 136.45

been appointed interim CEO, and '26 guidance was reaffirmed. Market Cap (MM) $5,168

Source: Company Data, Wells Fargo Securities estimates, and Factset.

Initial Thoughts NA = Not Available, NC = No Change, NE = No Estimate

CEO Pacious Steps Down. After 21 years with the company, Patrick Pacious stepped Trey Bowers, CFA

down as CEO of CHH with Dominic Dragisich appointed as Interim CEO. Dragisich is Equity Analyst | Wells Fargo Securities, LLC

Trey.Bowers@wellsfargo.com | 617-210-3724

currently CHH's Chief Growth & Strategy Officer. His prior roles with the company include

EVP, Operations and Chief Global Brand Officer as well as CFO from '17 to '23. The board Nicholas Weichel

plans to consult a leading executive search firm and consider all qualified internal and Associate Equity Analyst | Wells Fargo Securities, LLC Nicholas.Weichel@wellsfargo.com | 646-717-0343

external candidates in its search for a new CEO.

Zachary Silverberg

Equity Analyst | Wells Fargo Securities, LLC

2026 Guidance Reaffirmed. With the press release, guidance for '26 was reiterated. See Zachary.Silverberg@wellsfargo.com | 212-214-1152

details below.