Choice Hotels International.
I'd dump their economy brands (Rodeway/Econo Lodge), focus on getting rid of a lot of underperforming Quality Inns (shrinking the chain's size but ensuring the remaining hotels are the nicest in the brand), return Clarion to being an upscale brand, and streamline things across the board (The last two Quality Inns I stayed at hadn't even upgraded to flat-screen TV's yet!). I'd also stop their plans to outsource their call center.
I mean, current CEO Steve Joyce, he's a nice guy, even appeared on Undercover Boss, but I don't think the company has been enforcing quality control as much as they should be.
I think a chain-wide mandatory renovation project might be necessary as well.