Choice Hotels International, Inc., (NYSE:CHH) today announced that the company will report diluted earnings per share (EPS) of $0.54, which will exceed the consensus estimate of $0.52 by two cents. The company also will report EBITDA for the quarter of $39.3 million, a 2.3% increase over the prior year. These results are supported by strong unit growth in domestic hotels for the third quarter of 4.2%.
The company believes the full year EPS will be in a range of $1.47 to $1.49
“We are extremely pleased that Choice continues to produce strong results in a sluggish economic climate,” said Charles A. Ledsinger, Jr., president and chief executive officer. “Choice`s basic franchising model has demonstrated its fundamental strength to perform in a wide range of economic circumstances, which keeps us well-positioned for future success.”
The company is scheduled to release its full third quarter earnings report following the close of trading on the New York stock exchange on Tuesday, October 29, 2002. A conference call to discuss third quarter results is scheduled for Wednesday, October 30, at 9 a.m. Eastern time. The call-in number to listen to the call is 1-888-273-9886. The conference call also will be Webcast simultaneously via the company`s Web site, www.choicehotels.com
Choice Hotels International is the world`s second largest lodging franchisor, marketing more than 5,000 hotels open or under development in 46 countries under the Comfort Inn, Comfort Suites, Quality, Clarion, Sleep, Econo Lodge, MainStay Suites and Rodeway Inn brand names.