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Choice Hotels International Reports Fourth Quarter And Full-Year 2024 Results
CHHChoice Hotels(CHH) Prnewswire·2025-02-20 11:30

Core Insights - Choice Hotels International, Inc. reported strong financial performance in 2024, exceeding the top end of its earnings guidance and achieving a 4.3% year-over-year increase in its domestic rooms portfolio, indicating the effectiveness of its growth strategy [3][10] - The company successfully relaunched four brands, expanded its partnerships, increased its international presence, and achieved record growth in its rewards program, positioning itself for continued growth in 2025 [3][10] Financial Performance - Total revenues for Q4 2024 were 390million,upfrom390 million, up from 358 million in Q4 2023, while full-year revenues reached 1.585billion,comparedto1.585 billion, compared to 1.544 billion in 2023 [4] - Net income for full-year 2024 increased by 16% to 299.7million,withdilutedearningspershare(EPS)risingby22299.7 million, with diluted earnings per share (EPS) rising by 22% to 6.20 [10] - Adjusted EBITDA for full-year 2024 was a record 604million,a12604 million, a 12% increase from the previous year [10] System Size and Development - The global net rooms system size grew by 3.3% to 653,810 rooms, with domestic upscale, extended stay, and midscale rooms increasing by 4.3% [6][10] - The domestic extended stay net rooms portfolio grew by 9.8%, with a pipeline of nearly 43,000 rooms, while the global upscale net rooms portfolio grew by 43.9% [7][12] Balance Sheet and Liquidity - As of December 31, 2024, the company had total available liquidity of 699.5 million and a net debt leverage ratio of 2.9 times [8] - Cash flows from operating activities for full-year 2024 were 319.4million,an8319.4 million, an 8% increase compared to 2023 [8] Shareholder Returns - The company repurchased 3.1 million shares for 382.1 million during 2024, representing 6% of its market capitalization at the beginning of the year [10][13] - Cash dividends paid totaled 55.5millionin2024[13]Outlook−Forfull−year2025,thecompanyexpectsnetincometorangebetween55.5 million in 2024 [13] Outlook - For full-year 2025, the company expects net income to range between 288 million and 300million,withadjustedEBITDAprojectedbetween300 million, with adjusted EBITDA projected between 625 million and $640 million [14] - Domestic revenue per available room (RevPAR) growth is anticipated to be 1% to 2% for 2025 [16]