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Choice Hotels’ revenue up, profit down

Choice Hotels International Inc., of Rockville, a hotel franchise chain with more than 6,300 hotels in the U.S. and abroad, said its net income decreased in the third quarter of 2013 compared to the previous year, but still topped analysts’ forecasts.

The company reported net income of $41.5 million, or 70 cents per diluted share, on revenue of $223.2 million, compared to net income of $44.4 million, or 76 cents per diluted share, on revenue of $210.4 million in the prior-year period.

Analysts polled by Thomson Reuters forecast, on average, earnings of 67 cents on revenue of $220.05 million. Revenue rose due to increases in room rates and occupancy, but increased operating expenses drove down quarterly earnings.