Strong occupancy, rates lift Choice Hotels' Q1 results

04/29/2012 | American City Business Journals

Choice Hotels International reported net income of $20 million for the first quarter of 2012 against $15.7 million during the same period in 2011, as well as a 12% rise in revenue, to $129.2 million. Revenue per available room rose 8.6%, while average daily rate and occupancy went up 2.5%, the hotel firm reported. "Domestic [revenue per available room] growth exceeded our expectations due to a combination of strong occupancy gains and increases in average daily rates," said CEO Stephen Joyce.

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