SEC Form SC 13G/A filed by Choice Hotels International Inc. (Amendment)

2/12/24 1:13:36 PM ET

Hotels/Resorts

Consumer Discretionary

Get the next $CHH alert in real time by email

SC 13G/A 1 ChoiceHotelsCHH.txt MS AMENDMENT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No.6)* CHOICE HOTELS INTERNATIONAL INC /DE ----------------------------------------------------- (Name of Issuer) Common Stock ----------------------------------------------------- (Title of Class of Securities) 169905106 ----------------------------------------------------- (CUSIP Number) December 31, 2023 ----------------------------------------------------- (Date Of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1745 (3-06) CUSIP No.169905106 13G Page 2 of 8 Pages -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: Morgan Stanley I.R.S. # 36-3145972 -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ] (b) [ ] -------------------------------------------------------------------------------- 3. SEC USE ONLY: -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware. -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER: SHARES 0 BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER: EACH 2,746,042 REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER: WITH: 0 -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER: 2,849,812 -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 2,869,587 -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 5.8% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON: HC, CO -------------------------------------------------------------------------------- CUSIP No.169905106 13G Page 3 of 8 Pages -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: Atlanta Capital Management Company, LLC I.R.S. # 58-2236910 -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ] (b) [ ] -------------------------------------------------------------------------------- 3. SEC USE ONLY: -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware. -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER: SHARES 0 BENEFICIALLY -------------------------------------------------------------- OWNED BY 6. SHARED VOTING POWER: EACH 2,518,840 REPORTING -------------------------------------------------------------- PERSON 7. SOLE DISPOSITIVE POWER: WITH: 0 -------------------------------------------------------------- 8. SHARED DISPOSITIVE POWER: 2,612,342 -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 2,626,619 -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: [ ] -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 5.3% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON: IA -------------------------------------------------------------------------------- CUSIP No.169905106 13G Page 4 of 8 Pages -------------------------------------------------------------------------------- Item 1. (a) Name of Issuer: CHOICE HOTELS INTERNATIONAL INC /DE -------------------------------------------------------------- (b) Address of Issuer's Principal Executive Offices: 915 MEETING STREET SUITE 600 NORTH BETHESDA MD 20852 UNITED STATES OF AMERICA -------------------------------------------------------------- Item 2. (a) Name of Person Filing: (1) Morgan Stanley (2) Atlanta Capital Management Company, LLC -------------------------------------------------------------- (b) Address of Principal Business Office, or if None, Residence: (1) 1585 Broadway New York, NY 10036 (2) 1075 Peachtree Street, Suite 2100, Atlanta, GA 30309 -------------------------------------------------------------- (c) Citizenship: (1) Delaware. (2) Delaware. -------------------------------------------------------------- (d) Title of Class of Securities: Common Stock -------------------------------------------------------------- (e) CUSIP Number: 169905106 -------------------------------------------------------------- Item 3. If this statement is filed pursuant to Sections 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [x] An investment adviser in accordance with Sections 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Section 240.13d-1(b)(1)(ii)(F); (g) [x] A parent holding company or control person in accordance with Section 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] A non-U.S. institution in accordance with section 240.13d-1(b)(1)(ii)(J); (k) [ ] Group, in accordance with sections 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with sections 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Not Applicable CUSIP No.169905106 13G Page 5 of 8 Pages -------------------------------------------------------------------------------- Item 4. Ownership as of December 31, 2023.* (a) Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s). (b) Percent of Class: See the response(s) to Item 11 on the attached cover page(s). (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s). (ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s). (iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s). (iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s). Item 5. Ownership of Five Percent or Less of a Class. Not Applicable Item 6. Ownership of More Than Five Percent on Behalf of Another Person. Not Applicable Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on By the Parent Holding Company. See Exhibit 99.2 Item 8. Identification and Classification of Members of the Group. Not Applicable Item 9. Notice of Dissolution of Group. Not Applicable Item 10. Certification. (1) By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release. CUSIP No.169905106 13G Page 6 of 8 Pages -------------------------------------------------------------------------------- Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 12, 2024 Signature: /s/ Christopher O'Hara -------------------------------------------------------------------- Name/Title: Christopher O'Hara/Authorized Signatory, Morgan Stanley -------------------------------------------------------------------- MORGAN STANLEY Date: February 12, 2024 Signature: /s/ Kelly Wiiliams -------------------------------------------------------------------- Name/Title: Kelly Williams/Authorized Signatory, Atlanta Capital Management Company, LLC -------------------------------------------------------------------- Atlanta Capital Management Company, LLC EXHIBIT NO. EXHIBITS PAGE ----------- ---------- ---- 99.1 Joint Filing Agreement 7 99.2 Item 7 Information 8 * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001). CUSIP No.169905106 13G Page 7 of 8 Pages -------------------------------------------------------------------------------- EXHIBIT NO. 99.1 TO SCHEDULE 13G JOINT FILING AGREEMENT --------------------------------------------------- February 12, 2024 --------------------------------------------------- MORGAN STANLEY and Atlanta Capital Management Company, LLC hereby agree that, unless differentiated, this Schedule 13G is filed on behalf of each of the parties. MORGAN STANLEY BY: /s/ Christopher O'Hara --------------------------------------------------------------------- Christopher O'Hara/Authorized Signatory, Morgan Stanley Atlanta Capital Management Company, LLC BY: /s/ Kelly Williams --------------------------------------------------------------------- Kelly Williams/Authorized Signatory, Atlanta Capital Management Company, LLC * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001). CUSIP No.169905106 13G Page 8 of 8 Pages -------------------------------------------------------------------------------- EXHIBIT NO. 99.2 ------------------ ITEM 7 INFORMATION The securities being reported on by Morgan Stanley as a parent holding company are owned, or may be deemed to be beneficially owned, by Atlanta Capital Management Company, LLC, a wholly-owned subsidiary of Morgan Stanley.

Get the next $CHH alert in real time by email

Date	Price Target	Rating	Analyst
11/6/2024	$150.00	Buy → Hold	Jefferies
9/18/2024	$105.00	Sell	Goldman
7/19/2024	$120.00	Neutral → Underweight	JP Morgan
6/21/2024	$125.00	Neutral	Susquehanna
3/11/2024	$96.00 → $156.00	Underperform → Buy	Jefferies
1/2/2024	$119.00 → $96.00	Hold → Underperform	Jefferies
12/14/2023	$115.00	Underweight → Neutral	JP Morgan
10/23/2023	$131.00	Hold	HSBC Securities

SEC Form SC 13G/A filed by Choice Hotels International Inc. (Amendment)

Chat with this insight

Recent Analyst Ratings for $CHH

$CHH Press Releases

Fastest customizable press release news feed in the world

Choice Hotels Announces Two New SOAR Contracts Supporting Hotel Ownership Opportunities for Underrepresented Entrepreneurs

Choice Hotels Continues Upscale Category Growth with New Cambria Hotels Openings and Key Groundbreakings Across the U.S.

Choice Hotels International Reports Strong Third Quarter 2024 Results

$CHH Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

$CHH Leadership Updates

Live Leadership Updates

Choice Hotels downgraded by Jefferies with a new price target

Goldman initiated coverage on Choice Hotels with a new price target

Choice Hotels downgraded by JP Morgan with a new price target

Everhome Suites Continues to Expand with Three New Locations Breaking Ground in Key Markets

Choice Privileges Revs Up Experiences with Addition of NASCAR Races, Becomes Official Hotel Partner of #99 Trackhouse Chevrolet

Ricardo Losada Revol Joins Choice Hotels as Senior Vice President and General Manager, International

$CHH Market Insights

Live Market Insights

Assessing Choice Hotels Intl: Insights From 5 Financial Analysts

JP Morgan Downgrades Choice Hotels Intl to Underweight, Announces $120 Price Target

Choice Hotels Reports Pricing Of Senior Notes In An Aggregate Principal Amount Of $600M In Public Offering

$CHH Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

President & CEO Pacious Patrick exercised 7,192 shares at a strike of $81.55 and sold $1,042,480 worth of shares (7,192 units at $144.95) (SEC Form 4)

Senior Vice President Wu Simone exercised 2,458 shares at a strike of $81.35, covered exercise/tax liability with 1,388 shares and gifted 348 shares, increasing direct ownership by 2% to 46,391 units (SEC Form 4)

EVP, Op & Chief Glb Brands Ofc Dragisich Dominic covered exercise/tax liability with 691 shares and exercised 1,095 shares at a strike of $91.28, increasing direct ownership by 0.59% to 68,913 units (SEC Form 4)

$CHH SEC Filings

Amendment: SEC Form SCHEDULE 13G/A filed by Choice Hotels International Inc.

SEC Form 144 filed by Choice Hotels International Inc.

SEC Form 144 filed by Choice Hotels International Inc.

$CHH Financials

Live finance-specific insights

Choice Hotels International Reports Strong Third Quarter 2024 Results

Choice Hotels International to Report 2024 Third Quarter Results on November 4, 2024

Choice Hotels Announces Quarterly Cash Dividend

$CHH Large Ownership Changes

This live feed shows all institutional transactions in real time.

SEC Form SC 13G filed by Choice Hotels International Inc.

Amendment: SEC Form SC 13G/A filed by Choice Hotels International Inc.

Amendment: SEC Form SC 13G/A filed by Choice Hotels International Inc.

Recent Analyst Ratings for
$CHH

$CHH
Press Releases

$CHH
Analyst Ratings

$CHH
Leadership Updates

$CHH
Market Insights

$CHH
Insider Trading

$CHH
SEC Filings

$CHH
Financials

$CHH
Large Ownership Changes