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Choice Hotels’ sees less profit in 2Q
Choice Hotels’ sees less profit in 2Q
Listen to this articleChoice Hotels International Inc., of Rockville, a hotel franchise chain whose brands include Comfort Inn, Econo Lodge and Quality Inn, reported second-quarter net income of $28.2 million, or 48 cents per diluted share, an 11.6 percent drop from the $31.9 million, or 55 cents per share, in the year-before period.
Revenue rose 6 percent to $183.6 million, compared to last year’s $173.6 million.
Wall Street analysts forecast, on average, earnings of 46 cents per share and revenue of $181 million.
Revenue per available room, or RevPAR, a key performance measure for hotel companies, rose 3.5 percent on increases in occupancy and daily room rates.
