Choice Hotels Provides Performance Updates at 2021 Goldman Sachs Travel and Leisure Conference
During the Goldman Sachs Travel and Leisure Conference, Patrick Pacious, president and chief executive officer of Choice Hotels International, presented the Performance Updates of 2021.
Some of the key highlights of speech are included bellow:
Domestic system-wide revenue per available room (RevPAR) for May 28 to 30, 2021 increased by 12% versus the same Memorial Day weekend in 2019, marking the strongest revenue performing Memorial Day weekend in the company's history, with Saturday, May 29 recording the single highest revenue day ever for the company.
The company expects elevated demand trends to continue into the summer months, with the bookings for Independence Day weekend currently outpacing the demand for Memorial Day weekend, compared to the same period of 2019.
Domestic systemwide RevPAR for May 2021 declined approximately 4.2% compared to May 2019, ahead of expectations and matching the company's April 2021 RevPAR performance.
Second-quarter domestic systemwide RevPAR through May 31, 2021 for the company's economy portfolio has exceeded 2019 levels while RevPAR for the company's midscale portfolio approached 2019 pre-pandemic results.