Choice Q4 RevPAR Rose 4.2%
Wednesday February 13th, 2013 - 7:41AM X
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SILVER SPRING, MD–Choice Hotels International fourth quarter 2012 domestic RevPAR increased 4.2%, compared to the same period in 2011.
The company executed 214 new domestic hotel franchises in the quarter, an increase of 67% over the same period in the previous year.
During the quarter, the company reached an agreement with Colony Capital, LLC, and Aimbridge Hospitality to convert 46 properties, formerly operated as Jameson Inns, to Choice's Quality inn, Comfort Inn and Econo Lodge brands. The deal represents Choice's largest single conversion transaction, excluding brand acquisitions.
Tags: • Hospitality • Quarterly Results •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.