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Choice Sees Strong First Quarter Boosted by Extended Stay Acquisition

Deanna Ting

Photo Credit: A room prototype for WoodSpring Suites. Choice Hotels closed its $231 million purchase of WoodSpring Suites in February.  WoodSpring Suites / WoodSpring Suites

Skift Take

With acquisitions like WoodSpring Suites, Choice Hotels' new CEO is making good on his mission to continue to grow the company and establish its dominance in the economy and midscale sectors.

Choice Hotels International had a strong first quarter that was assisted by the closing of its $231million purchase of economy extended stay brand WoodSpring Suites. For the first quarter, Choice Hotels' net income increased 3 percent from the same period last year to $25.1 million. Adjusted net income grew 25 percent to $38.4 million from the first quarter of 2017. The company's domestic revenue per available room (RevPAR) grew 3.5 percent, in line with the overall industry which also saw a 3.5 percent increase in domestic RevPAR. Wo

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