Choice Hotels International reported year-over-year growth
in both occupancy and average daily rate during the third quarter. Occupancy
increased 70 basis points to 69.2 percent, and ADR rose 1.2 percent to $89.78.
CEO Pat Pacious said the company had approximately 350 hotels within the impact
area of hurricanes Irma and Harvey. About a dozen are still closed. However,
the influx of first responders requiring lodging benefitted Choice's
performance. Choice reported 2.1 percent year-over-year growth in its portfolio
of domestic rooms and 2.3 percent for international rooms. Revenue increased 10
percent to $295 million, while net
income remained flat at $47.6 million.
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Choice Q2 earnings