CHOICE HOTELS INTL INC

Ticker: CHH CUSIP: 169905106 Class: Common Stock

WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC's Holding History (CIK: 0001644956)

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

Q1 2016

Shares 1,284,766 Value ($000) $69,442 Avg Close $43.60 Range $37.03 - $49.46

Q4 2015

Shares 1,771,073 Value ($000) $89,280 Avg Close $46.23 Range $42.43 - $49.44

Q3 2015

Shares 1,500,581 Value ($000) $71,503 Avg Close $46.12 Range $40.72 - $50.39

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	1,284,766	$69,442	$43.60	$37.03 - $49.46
Q4 2015	1,771,073	$89,280	$46.23	$42.43 - $49.44
Q3 2015	1,500,581	$71,503	$46.12	$40.72 - $50.39