9%

Choice Hotels (CHH) downgraded from Outperform to Perform at Oppenheimer. Trends in leisure travel are weakening, and business travel may soon follow.

Choice Hotels (CHH) was upgraded from Underperform to Peer Perform, Bear Stearns said. Stock has pulled back to an attractive valuation, given the company's growth potential.

Choice Hotels (CHH) was upgraded from Underperform to Market Perform, Wachovia said. The stock has underperformed of late, and the company operates a lower risk business model.

Wachovia said it is downgrading Choice Hotels (CHH) to Underperform from Neutral. Cites potential risk to estimates considering company is trading at a richer valuation compared to peers.

12% 21 1.77

1.5%

A. Hospitality. (Lodging)

msn

Upgraded by CIBC Wrld Mkts from Sector Perform to Sector Outperform

From Barron's 7-9-07:

"But not all hotels are created equal, as road warriors well know. Franchises mining the lower price points -- like Choice Hotels (CHH), with its Comfort Inns and Econo Lodges -- and those with a heavy domestic or suburban footprint could see growth slow well before their big, geographically expansive counterparts with strategic toeholds in crowded meccas.