Choice Hotels International Q4 Profit Sinks, But Better Than Estimates

(RTTNews) - Choice Hotels International, Inc. (CHH), Tuesday reported a profit of $28.95 million or $0.58 per share for the fourth quarter, significantly lower than $55.51 million or $1.04 per share in the same quarter a year ago, mainly due to lower revenue as well as higher one-time expenses.

Excluding special items, earnings were $71.83 million or $1.44 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $1.34 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter declined 1 percent to $358.4 million from $361.98 million in the previous year. The consensus estimate was for $370.4 million.

The company said its domestic revenue per available room (RevPAR) decreased 390 basis points year on year. Looking ahead, the company expects earnings per share in the range of $6.30 - $6.60 for full-year 2024.