Choice Hotels International Inc. (CHH) reported that its first-quarter net income decreased to $15.52 million or $0.26 per share, from $20.00 million or $0.34 per share last year. Total revenues increased to $136.87 million from $129.17 milion last year. Total operating expenses rose 8 percent from prior year quarter.
Domestic system-wide revenue per available room, or RevPAR, increased 4.6% for the three months ended March 31, 2013 compared to the same quarter of the prior year as occupancy and average daily rates increased 100 basis points and 2.3 percent, respectively, the company said.
On average, 15 analysts polled by Thomson Reuters expected the company to report profit of $0.27 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $135.13 million for the quarter.
Choice Hotels expects its second quarter profit per share to be $0.45, and full-year 2013 profit per share to range between $1.87 and $1.91. The company expects RevPAR to increase approximately 4% for the second quarter of 2013 and increase between 4.5% and 5.5% for full-year 2013. Analysts expect the company to report second-quarter profit per share of $0.53, and fiscal 2013 profit per share of $1.97.
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