Five Takeaways From Choice Hotels’ Second Quarter Earnings Call
Photo Credit: The lobby of the Cambria Hotel Los Angeles – LAX, which recently opened. Choice Hotels wants to focus on growing this boutique brand. Choice Hotels / Choice Hotels
Skift Take
Choice Hotels' message to investors? "Don't worry. We got this."
Choice Hotels hosted its second quarter 2017 earnings call for investors Wednesday and throughout the conversation, one thing was clear: The company was intent on assuring investors that they have a winning strategy for the business.
For the quarter ending June 30, the company reported a net income of $45 million, or 79 cents per diluted share, a 16 percent increase compared to $38.8 million or 68 cents per diluted share in the second quarter of 2016. Adjusted earnings before income taxes, depreciation, and amortization were $81.1 million, up 15 percent from last year's $70.4 million in the second quarter.
Domestically, system-wide revenue per available room (RevPAR) was up 2 percent in the quarter compared to the same period last year. Occupancy was up 30 basis points, and average daily rates were up 1.5 percent compared to the second quarter in 2016.
The CEO Transition Will Be as Seamless as Can Be
Having just announced the company's CEO succession plans last mon
