News / Choice Hotels International Reports 2021 Third Quarter Results

Choice Hotels International Reports 2021 Third Quarter Results

🕔 November 8, 2021
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Choice Hotels International, Inc. hospitality franchisor reported its results for the quarter ended September 2021.

Being RevPAR and financial metrics compared to 2019, highlights of these three months results include:

  • Domestic system-wide revenue per available room (RevPAR) growth surpassed the total industry by 16%, increasing 11.4% compared to the same period of 2019.
  • The company's domestic effective royalty rate for third-quarter 2021 increased 8 basis points over the prior year’s third quarter to 4.99%.
  • The company awarded 289 domestic franchise agreements year-to-date through September 30, 2021, a 25% increase compared to the same period of 2020.
  • Net income increased 53% to $116.7 million from the third quarter of 2019, representing diluted earnings per share (EPS) of $2.08. Adjusted net income increased 11% to $85.1 million from third quarter 2019 and adjusted diluted EPS were $1.51, an increase of 10% from third quarter 2019.
  • Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) were $133.2 million, an 18% increase from the third quarter of 2019.
  • Adjusted EBITDA margin for third quarter 2021 was 80%, a 650-basis-point increase from third quarter 2019.
  • In August 2021, the company's award-winning loyalty program, Choice Privileges, reached 50 million members.

Patrick Pacious, president and chief executive officer, Choice Hotels, said:

‘’Our impressive third-quarter results are a testament to the success of our long-term growth strategy and the investments we have made to position us to further increase our share of travel demand and benefit from trends that favor leisure travel, limited-service hotels, and longer stay occasions.’’

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