Choice Hotels Reports Record First-Quarter Outcomes

Choice Hotels International, Inc., reported that diluted earnings per share (EPS) increased 44 percent compared to the first quarter 2005.

Net income grew 47 percent from $12.0 million in first quarter 2005 to $17.7 million in the same period of this year. Earnings before interest, taxes, depreciation and amortization (EBITDA) hiked 32 percent to $32.4 million from $24.6 million in first quarter 2005.

Total revenues jumped 20 percent to $109.4 million compared to the first quarter of 2005, while domestic system-wide revenue per available room (RevPAR) increased 9.4 percent compared to the first quarter of 2005.

Domestic unit growth soared 5.2 percent compared to the first quarter 2005. Year-to-date new domestic hotel franchise contracts were up 17 percent to 120, with new construction contracts increasing 41 percent to 48, as compared to 34 in first quarter 2005, including 10 contracts for the new Cambria Suites brand, as compared to 13 for the full year 2005.