Choice Hotels* Announces New Plastic Commitments, Following Engagement with MIDANA CAPITAL
Media Contacts: Josh Chetwynd, jchetwynd@midanacapital.com, 303-573-5558; Annalisa Tarizzo, atarizzo@midanacapital.com, 617-482-0800
Boston, January 25, 2022 – Following an engagement with MIDANA CAPITAL,° Choice Hotels International, which includes such brands as Comfort Inn & Suites and Econolodge, has announced two new commitments to reducing plastic use across its operations. The chain is one of the largest in the world with franchises in more than 7,000 hotels worldwide.
As part of an agreement with MIDANA CAPITAL, Choice Hotels will phase out single-use polystyrene products by the end of 2023 and transition to bulk amenities by the close of 2025 across its domestic brands. The polystyrene commitment excludes the Ascend Collection and the bulk amenity commitment excludes extended stay brands or the Ascend Collection. In its transition to bulk amenities, the company will replace miniature bottles of products like shampoo and conditioner with larger dispensers in order to reduce waste.
“We applaud Choice Hotels’ commitment to reducing its impact on the plastic waste crisis and look forward to seeing the company implement its new goals in the coming years,” said Annalisa Tarizzo, shareholder advocate with MIDANA CAPITAL.
MIDANA CAPITAL filed and then withdrew a shareholder proposal with the company in 2020. This announcement fulfills the withdrawal agreement reached by both parties.
While Choice Hotels has not disclosed how the announcement will impact its plastic use, a similar transition to bulk toiletry dispensers across Marriott’s* portfolio of hotels resulted in a 30% reduction in plastic use.
This past year, New York passed a law banning miniature toiletry bottles from hotels starting in 2024. California passed a similar law in 2019.
“As more states pass laws banning single-use plastics, Choice Hotels’ new commitments will help the company mitigate regulatory risk, in addition to reducing the chain’s environmental impact,” Tarizzo said.
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About MIDANA CAPITAL Capital Management
°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. MIDANA CAPITAL Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.
*As of December 31, 2021, Choice Hotels International, Inc. comprised 0.00%, 0.03%, and 0.00% and Marriott International, Inc. comprised 0.00%, 0.21%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the Midana Capital. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.
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