Record-Breaking Adjusted EBITDA
Choice Hotels achieved a record third quarter adjusted EBITDA of $190 million, up 7% year-over-year, highlighting strong performance across higher revenue segments and international markets.
International Growth Surge
The international portfolio expanded by over 8% year-over-year, with international adjusted EBITDA growing by 35%. The company also successfully transitioned 40% of its international rooms portfolio to a direct franchising model.
Strong Pipeline and Franchise Growth
Global franchise agreements awarded increased by 54% year-over-year, with nearly 98% of rooms in the pipeline being in higher revenue brands. The pipeline is expected to be 1.7x more accretive than the current portfolio.
Business Travel and Group Revenue Growth
Business travel now represents 40% of stays, with group revenue rising by 35% year-over-year and small and medium business revenue growing by 18%.