2001 is an exciting time for Choice. We seek new opportunities to grow and to provide our 2,100 associates with greater opportunities for reward, guided by a clear strategic vision.

The progress made in 2000 in getting our organization better positioned for success reflects the dedication of our associates to keep improving performance and delivering exceptional services to our franchisees and guests. They deserve our heartfelt thanks, each and every one of them.

I also want to thank our Board of Directors, which continues to be highly supportive of our strategy. This spring, Gerald W. Petitt will be retiring from our Board, after 30 years of service to Choice. Included in that service is his valuable contribution as our president at a time when the company enjoyed some of its greatest growth. Jerry will be missed and we wish him well in his future endeavors.

We are eager to build on our foundation of almost 4,400 franchised hotels open and under development in 43 countries. We look to 2001 as a year of great opportunity. Our mission is simple: We must be travelers, too.

In a highly competitive business, the company that understands and appreciates what today’s traveler desires will succeed. We commit our considerable talent and resources to creating an increasingly value-added experience that will make The Power of Choice a compelling reality for our franchisees and guests. In the narrative that follows, you will see examples of what we are doing to carry out our vision and our mission.

Charles A. Ledsinger, Jr.
President and Chief Executive Officer
April 15, 2001