Choice Hotels Q1: record revenue $332.8M (+29%), adjusted EBITDA $106.4M; raises FY outlook

CHOICE HOTELS INTERNATIONAL INC /DE

2023-Q1 EPS reported $1.02 revenue$332,792,000

Total revenues $332.8M (Q1 record, +29% YoY); net income $52.8M ($1.02 diluted EPS) down 22% due to Radisson integration costs.
Adjusted EBITDA record $106.4M, +10% YoY, exceeding guidance; adjusted diluted EPS $1.12 (record, +9% YoY).
Domestic RevPAR +5.9% YoY; ADR +5.2%; occupancy +34 bps; effective royalty rate 4.99% (+6 bps).
Returned over $173M to shareholders; board raised quarterly dividend 21% to $1.15 annual rate starting April 2023.
Signed multi-year co-branded credit card agreement with Wells Fargo and Mastercard; global pipeline up 14% to 96,000+ rooms.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CHOICE HOTELS INTERNATIONAL INC /DE reported first quarter 2023 results: revenue $332.8 million, net income $52.8 million, EPS $1.02. Guidance raised.

Period: first quarter 2023
Revenue: $332.8 million
Net income: $52.8 million
EPS: $1.02
Guidance: raised
Result: reported results

Exact text from the filing

one of the world's largest lodging franchisors, today reported its first quarter 2023 results. Highlights of first quarter 2023 results include : 1 • Total revenues reached $332.8 million for first quarter 2023, a first-quarter record and a 29% increase compared to the same period of 2022. • Net income exceeded the top end of the company’s guidance and reached

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Source: SEC EDGAR

accession 0001046311-23-000017

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