Choice Hotels Reports Second Quarter 2013 Financial Results Jul 26th 2013, 11:27
Choice Hotels International reported second quarter 2013 financial results. Revenue totaled $183.6 million for the three months ended June 30, 2013, a six percent increase compared with the same period in 2012. Domestic second quarter revenue per available room (RevPAR) increased 3.5 percent compared to the same period in 2012. Second quarter occupancy and average daily rates increased 90 basis points and 1.8 percent, respectively.
In addition, the company’s domestic relicensing and contract renewals increased from 47 contracts during the second quarter of 2012 to 63 in the current period, a 34 percent increase. Worldwide hotels under construction, awaiting conversion or approved for development in the second quarter numbered 448 hotels representing 36,487 rooms.
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