UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Rempe, James H.
11555 Darnestown Road
Gaithersburg, MD 20878
2. Issuer Name and Ticker or Trading Symbol
Choice Hotels International, Inc.
CHH
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
12/10/98
5. If Amendment, Date of Original (Month/Year)
12/10/98
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Comon Stock |11/6/9|S | |627 |D |$12.5625 | | | |
|8 | | | | | | | | |
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Common Stock |11/6/9|S | |300 |D |$12.50 | | | |
|8 | | | | | | | | |
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Common Stock |4/29/9|A |V|1,815 (1) |A | | | | |
|8 | | | | | | | | |
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Common Stock |11/2/9|M | |14,155 |A |$6.9078 | | | |
|8 | | | | | | | | |
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Common Stock |11/2/9|F | |2,428 |D | |63,326 |D | |
|8 | | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock Option (R|$16.5313|4/29/|A |V|1,000 |A |Note |4/29/|Common Stock|1,000 | | |D | |
ight to Buy) | |98 | | | | |2 |03 | | | | | | |
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" " |$6.9078 |11/2/|M | |14,155 |D |12/6/|12/6/|Common Stock|14,155 | |94,113 | | |
" " | |98 | | | | |96 |98 | | | | | | |
" " | | | | | | | | | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
Note 1: Restricted stock granted under the Choice Hotels International, Inc.
Non-Employee Director Stock
Compensation Plan. Such shares vest in three equal annual installments
beginning on 4/29/99.
Note 2: Options granted under the Choice Non-Employee Director Stock Option
and Deferred Compensation Stock
Purchase Plan. Such options vest in three equal annual installments beginning
on 4/29/00.
SIGNATURE OF REPORTING PERSON
James H. Rempe
DATE
December 15, 1998
