CHOICE HOTELS INTL INC

Ticker: CHH CUSIP: 169905106 Class: Common Stock

WATER ISLAND CAPITAL LLC's Holding History (CIK: 0001222765)

Note: Option positions (PUT/CALL) are excluded.

Q1 2017

Shares 14,446 Value ($000) $904 Avg Close $54.29 Range $49.31 - $59.10

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2017	14,446	$904	$54.29	$49.31 - $59.10