- Domestic system-wide revenue per available room (RevPAR) for May 28th to 30th, 2021 rose 12% over the same Memorial Day weekend in 2019, marking the highest-grossing Memorial Day weekend in the company’s history Saturday May 29th Record of the busiest day in terms of sales for the company.
- The company expects demand trends to continue into the summer months, with bookings for Independence Day weekend currently exceeding demand for Memorial Day weekend compared to the same period in 2019 June 4th to 5th, 2021 up 18% over the same weekend after Memorial Day in 2019.
- Domestic system-wide RevPAR for May 2021 decreased by approx. 4.2% compared to May 2019, exceeds expectations and corresponds to that of the company April 2021 RevPAR performance. In addition, the company continued to increase the RevPAR index against its local competitors.
- The company’s largest extended stay brand, WoodSpring Suites, achieved RevPAR growth of over 15% in the second quarter of 2018 May 31, 2021, compared to the same period in 2019, and the company’s upscale Cambria Hotels brand has seen a system-wide RevPAR share gain of 16 percentage points over its local competitors year-to-date May 29, 2021compared to the same period of 2019.
- Second quarter of national system-wide RevPAR May 31, 2021 for the company’s economy portfolio exceeded 2019 levels, while RevPAR for the company’s midscale portfolio approached pre-2019 results.
To view the replay of the presentation, please visit the Financial Performance & Presentations tab of Choice Hotels Investor Relations website. http://investor.choicehotels.com/financial-performance-and-presentations, in the “Past Events” section and access the webcast link for the Goldman Sachs Travel and Leisure Conference 2021. A rerun will be available until September 6, 2021.
About Choice Hotels®
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. With more than 7,100 hotels with almost 600,000 rooms in over 40 countries and territories (as of March 31, 2021), the Choice® family of hotel brands offers business and leisure travelers a range of high-quality accommodation options from limited service to full-board service hotels in the upscale, Medium, Long Term, and Economy The award-winning Choice Privileges® loyalty program offers members benefits ranging from daily rewards to exceptional experiences. For more information, visit www.choicehotels.com.
Forward-Looking Statements
Certain matters discussed in the repetition of comments constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may relate to projections of the company’s revenues, expenses, results, and other financial and operational measures including pipeline growth, occupancy and hotel open, the company’s ability to benefit from a rebound in travel demand, consumer trends, among others. We caution you not to place undue reliance on such forward-looking statements. Forward-looking statements do not guarantee future performance and involve known and unknown risks, uncertainties and other factors.
Several factors could cause our actual results, performance or achievements to differ materially from those expressed or contemplated in any forward-looking statements. These risks include but are not limited to the continuation or flare-up of the COVID-19 pandemic, including with respect to new strains or variants; the vaccination rate and pace in the broader population; Changes in consumer demand and confidence, including the impact of the COVID-19 pandemic on unemployment rates, consumer cyclical spending, and demand for travel, short breaks, and group business; the impact of COVID-19 on the global hospitality industry, including, but not limited to, the US travel market; the success of our containment efforts in response to the COVID-19 pandemic; the performance of our brands and categories in a recovery from the COVID-19 pandemic disorder; Timing and amount of future dividends and share buybacks; Changes in general, domestic and foreign economic conditions, including access to liquidity and capital due to COVID-19; future national or global epidemic, pandemic, or contagious disease outbreaks or fear of such outbreaks; Changes in laws and regulations for the travel, lodging or franchising industries; Foreign currency fluctuations; Decrease in value or decrease in value of our assets; Operational risks common in the travel, lodging, or franchising industries; Changes in the attractiveness of our brands from the point of view of hotel operators and customers; Changes in the terms or termination of our contracts with franchisees and our relationships with our franchisees; our ability to keep pace with improvements in technology used for marketing and reservation systems and other operating systems; the commercial acceptance of the products and services of our SaaS technology solutions department; our ability to grow our franchise system; Risks associated with our hotel development, financing and ownership activities; Risks associated with our investments in new business; Fluctuations in supply and demand for hotel rooms; our ability to realize anticipated benefits from acquired businesses; Impairments or losses in relation to an acquired business; the degree of acceptance of alternative growth strategies that we can implement; Cybersecurity and data breach risks; Ownership and financing activities; Hotel closures or financial difficulties of our franchisees; operational risks associated with our international activities, particularly in the areas currently most severely affected by COVID-19; the outcome of a dispute; and our ability to effectively manage our debt and secure our debt. These and other risk factors are discussed in detail in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or for any other reason, except as required by law.
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SOURCE Choice Hotels International, Inc.
