UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
Schultz, Steven T.
10750 Columbia Pike
Silver Spring, MD 20901
USA
2. Date of Event Requiring Statement (Month/Day/Year)
5/17/99
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Choice Hotels International, Inc.
CHH
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Executive Vice President
6. If Amendment, Date of Original (Month/Day/Year)
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 Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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<S> <C> <C> <C>
Common Stock |27,064 |D |Note 1 |
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
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<S> <C> <C> <C> <C> <C> <C> <C>
Common Stock Option (Rig|Note 2 |5/17/09 |Common Stock |82,500 |$14.78 |D | |
ht to Buy) | | | | | | | |
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Incentive Stock Option (|Note 2 |5/17/09 |Common Stock |27,500 |$14.78 |D | |
Right to Buy) | | | | | | | |
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</TABLE>
Explanation of Responses:
Note 1: Restricted stock which vests in five equal annual installments
beginning on 5/17/00.
Note 2: Such options vest in five equal annual installments beginning on
5/17/00.
SIGNATURE OF REPORTING PERSON
Steven T. Schultz
DATE
9/20/99
