Earnings fall by nearly 20% at Choice Hotels International

15 February 2010 by
Earnings fall by nearly 20% at Choice Hotels International

Choice Hotels International has reported earnings of £104.5m for the year 2009, a fall from £130m during the previous year.

The group, one of the largest lodging franchisors in the world, revealed that franchising revenues declined by £29.1m or 15% to £162.5m in 2009, compared to £191.5m in 2008, while revenue per available room (revpar) fell 14.4% last year, compared to the previous year.

The number of new hotel franchise contracts for the group behind the Comfort, Quality, Clarion and Sleep Inn brands also fell by 47%, from 698 in 2008 to 369 in 2009.

"Despite operating in the midst of an incredibly difficult environment, which has resulted in industry wide revpar declines, the company has remained focused on returning value to our shareholders," said Stephen Joyce, president and chief executive of Choice Hotels.

"During 2009, we returned more than £64m to our shareholders through a combination of share repurchasers and dividends at a time when many other companies have reduced or eliminated their dividend and share purchase programmes."

  • Choice Hotels has today opened a new Quality Inn, close to Birmingham Airport and the NEC. The 51-bedroom hotel is a showcase for Choice's newly-enhanced brand standards that include upgraded bedding, free high-speed internet access or Wifi and a consistent breakfast offering.

Choice Hotels International launches in Poland >>

Choice Hotels plans to expand UK presence with 20 new hotels >>

Choice Hotels International ends franchises with Real Hotel Group >>

By Janet Harmer

E-mail your comments to Janet Harmer here.

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.caterersearch.com/tabletalk

Caterersearch.com jobs
Looking for a new job? Find your next hotel job here with Caterersearch.com jobs

Blogs on Caterersearch.com](http://www.caterersearch.com/blogs) Catch up with more news and gossip on all Caterer's blogs
[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking