Choice Hotels International, the global hotel franchise company, has posted a strong set of full-year results, with record revenues and net profits in 2014.
The US-based company, which operates such brands as Comfort Inn, Cambria Suites and EconoLodge, generated net profits of US$113.7 million last year, up 8% compared to 2013. Revenues climbed 5% to US$758m, including a 9% jump in franchising turnover.
The company’s overall revenue per available room (revPAR) increased 8.5% to US$45.80, following a 3.1 percentage point rise in occupancy levels, to 59.5%, and a 3.0% increase in average daily rates (ADR) to US$74.76.
The Rodeway (+11.1%), Sleep (+10.5%) and Clarion (+10.1%) brands saw the strongest revPAR growth, but the upscale Ascend Hotel Collection fell 4.4%.
And Choice has issued a strong outlook for 2015; revPAR is expected to increase approximately 11% for the first quarter of this year, and between 6.5% and 8% for the full year.
By the end of last year, Choice had a total global portfolio of 6,379 hotels comprising 505,278 rooms.