Record Adjusted EBITDA
Choice Hotels reported a record second quarter adjusted EBITDA of $165 million, representing a 2% year-over-year increase despite a weaker-than-anticipated RevPAR environment.
International Expansion Success
The company saw a 10% growth in adjusted EBITDA for its international business and expanded its rooms portfolio by 5% year-over-year, with a 15% increase in hotel openings.
Strategic Acquisitions and Partnerships
Choice Hotels acquired the remaining 50% interest in Choice Hotels Canada, extended a franchise agreement in South America, and signed new agreements in Europe and China, marking significant international growth.
Extended Stay Segment Growth
The extended stay portfolio grew by over 20% over the past 5 years with a double-digit growth rate, and a 43% increase in the number of WoodSpring Suites brand domestic franchise agreements.
Recognition and Awards
The WoodSpring Suites brand was ranked #1 in guest satisfaction among economy extended stay hotel brands by J.D. Power for the third consecutive year.