Choice Hotels said Wednesday that Patrick Pacious is stepping down as president and CEO after nearly nine years running the franchising giant, with Chief Growth & Strategy Officer Dominic Dragisich taking over on an interim basis effective immediately.
The leadership change was abrupt: It comes with no permanent successor and an outside search underway. CEO successions at the largest travel companies usually arrive with a named successor.
The terms of Pacious’ exit are substantially the same as the severance package he negotiated in 2022. He is entitled to cash severance equal