Choice Hotels Meets Second Quarter Expectations
Skift Take
International expansion is gaining ground at Choice, with full control in Canada and rising overseas openings. Plus more hotel deals and development news.
The DJIA was up 81 points while the Nasdaq was up 253, the S&P 500 was up 46 points, and the 10-year treasury yield was up .02 to 4.22%. Lodging stocks were mixed, with SVC the only major mover of note, down -10%. They were the only ones of those who reported 2Q results to get any real action. About the only thing we saw in their earnings release that investors may not have liked, outside of the company in a hotel selling mode, is they drew down $550 million of their credit facility to preserve financial flexibility. That coincided with the news that they chose early redemption of $350 million of 5.25% senior unsecured notes.
STR reported U.S. hotel data for the week ended 8/2. U.S. hotel RevPAR was up 40 basis points with rates up 50 basis points. Group RevPAR was down 90 basis points.
Summit Hotel Properties reported a RevPAR decline of -3.8%, near the low end of management’s guidance range, reporting an earnings miss for 2Q25
