The average daily rate at Choice Hotels International properties during the fourth quarter of 2012 increased 2 percent year over year to $73.44, according to the company. ADR was up across all brands except the boutique Ascend Collection. The largest increases came at Choice's extended-stay brands Suburban (6.1 percent) and MainStay (5.2 percent). Overall occupancy increased by 1.2 percentage points to 55.4 percent. The company's net income for the quarter was $24.5 million, compared with $24.8 million in the fourth quarter of 2012.
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Kirk Kinsell, president of InterContinental Hotels Group's operations in the Americas, will become CEO of Loews Hotels & Resorts in March 2015,... read more »