Choice Hotels International saw year-over-year increases in
both average daily rate, up 3 percent to $83.35, and occupancy, up 0.8
percentage points to 65.5 percent, during the second quarter. Choice controller
Scott Oaksmith attributed the company's success in the quarter in part to its
lack of dependence on corporate travel, the slowdown of which has been a thorn
in the side of hoteliers like
Marriott
and
Hilton
this earnings season. "Although we continue to increase our share of
business travel, our business remains predominantly leisure travel
focused," Oaksmith said. The company nevertheless revised its full-year
revenue per available room growth down to 3.5 percent to 4 percent from the
previous projection of 3.75 percent to 4.5 percent. Total second quarter
revenue increased 4 percent year over year to $242 million.