Choice focuses on midscale, extended-stay growth

WoodSpring Suites Exterior, Washington Everett
WoodSpring Suites Exterior, Washington Everett. (Choice Hotels International)

Choice Hotels International’s Q2 2021 earnings report did not compare numbers to last year’s, but to those from 2019.

“Our goal is not simply to return to our 2019 performance levels, but rather to capitalize on current and future investments to fuel our long term growth and drive our performance,” CEO Patrick Pacious said during a call with investors.

During the quarter, domestic systemwide revenue per available room declined 1.1 percent compared to the same period in 2019, while occupancy levels increased 20 basis points from Q2 2019.

The company's June 2021 domestic systemwide RevPAR increased 4.5 percent from June 2019, while July 2021 RevPAR increased approximately 15 percent from July 2019, driven by occupancy levels of 70 percent and average daily rate growth of 10 percent.

From May through July, the company surpassed its all-time single day revenue record on four separate days and recorded 14 of the highest revenue performing days in the company's history. Ultimately, second quarter net income increased 15 percent to $85.9 million from second quarter 2019.

Read more on our our sister publication Hotel Management