Choice Hotels Reports Second Quarter 2011 Diluted EPS of $0.46, Domestic RevPAR Growth of 6.6% (United States)
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Choice Hotels Reports Second Quarter 2011 Diluted EPS of $0.46, Domestic RevPAR Growth of 6.6% (United States)
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Category: North America & West Indies / Carribean islands - United States - Industry economy -
Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2011-08-04
Choice Hotels International, Inc., (NYSE: CHH) today reported the following highlights for second quarter 2011:
Diluted earnings per share ("EPS") for second quarter 2011 were $0.46 compared to $0.45 for the same period of the prior year.
Excluding special items, adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA") were $47.3 million for the three months ended June 30, 2011, compared to $45.7 million for the same period of 2010. Operating income increased 3% from $43.6 million for the three months ended June 30, 2010 to $45.1 million for the same period of the current year.
Franchising revenues increased 7% from $68.4 million for the three months ended June 30, 2010 to $73.4 million for the same period of 2011. Total revenues for the three months ended June 30, 2011 increased 10% to $165.3 million compared to the same period of 2010.
Worldwide unit growth increased 0.7 percent from June 30, 2010 comprised of domestic and international unit growth of 0.5 percent and 1.6 percent, respectively.
Domestic system-wide revenue per available room ("RevPAR") increased 6.6% for the second quarter of 2011 compared to the same period of 2010.
The effective royalty rate increased 4 basis points to 4.33% for the three months ended June 30, 2011 compared to 4.29% for the same period of the prior year.
The company executed 69 new domestic hotel franchise contracts for the three months ended June 30, 2011, an increase of 11% compared to the 62 contracts executed in the same period of the prior year.
The number of domestic hotels under construction, awaiting conversion or approved for development declined 23% from June 30, 2010 to 451 hotels representing 37,892 rooms; the worldwide pipeline declined 19% from June 30, 2010 to 554 hotels representing 46,612 rooms.
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