Choice reports $1.5B in revenues for 2023
The company promoted it’s proposed acquisition of Wyndham Hotels & Resorts during its earnings call with investors
Choice Hotels International President and CEO Patrick Pacious pointed to the company’s 2022 incorporation of Radisson Hotels Group Americas hotels as an example of a positive merger. As Radisson properties increasingly leverage Choice’s hotel profitability tools, Choice’s team expects the solutions to “drive savings of up to 20 percent on the franchisee level.”
Key takeaways
- Record total revenues grew 10 percent to $1.5 billion for full-year 2023 compared to the same period of 2022. Net income was $258.5 million for full-year 2023;
- Adjusted earnings before interest, taxes, depreciation, and amortization for full-year 2023 reached a company record of $540.5 million, a 13 percent increase compared to 2022;
- The company provided full-year 2024 net income guidance of $260 million and $274 million. Adjusted EBITDA for full-year 2024 is expected to range between $580 million to $600 million.
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