Strong First Quarter Financial Performance
Adjusted EBITDA increased by 4% to a record $129.6 million, and adjusted earnings per share rose by 5% to $1.34 year over year.
Significant Growth in Business Travel Segment
Business travel segment grew 10% year over year in the first quarter, with an impressive over 50% revenue increase from group travel business.
Expansion in Extended Stay Portfolio
Extended stay portfolio size increased by 19% over the past five years, with the segment's pipeline representing half of the total domestic rooms pipeline.
Reward Program Expansion
Choice's rewards program expanded to over 70 million members, an 8% increase year over year, with a 28% increase in global reward night redemptions.
Strong International Pipeline
International rooms pipeline increased by 13% compared to the prior quarter, with a 4% year-over-year expansion in the international rooms portfolio.