Choice Hotels Reports Results for Second Quarter 2017

Highlights:

Overall Results

  • Diluted earnings per share (EPS) for the second quarter was $0.79, a 16-percent increase from the second quarter of the prior year; Diluted EPS increased 11-percent compared to our adjusted diluted EPS for the second quarter of 2016, which excluded executive termination benefits incurred in 2016.
  • Total revenues and hotel franchising revenues for the second quarter increased 14 percent and 10 percent, respectively, from the second quarter of the prior year.
  • Adjusted EBITDA totaled $81.1 million for the second quarter, a 15-percent increase from the second quarter of the prior year.
  • Adjusted EBITDA from hotel franchising activities for the second quarter increased 11 percent from the prior year second quarter to $84.0 million.
  • Adjusted hotel franchising margins for the second quarter increased 100 basis points from the prior year second quarter to 70.5 percent.

Royalties

  • Domestic royalty fees for second quarter totaled $87.0 million, a 7.2-percent increase from the second quarter of the prior year.
  • Domestic system-wide revenue per available room (RevPAR) increased 2.0 percent for the second quarter compared to the prior year second quarter. Occupancy and average daily rates increased 30 basis points and 1.5 percent, respectively, in the second quarter compared to the same period of 2016.
  • The Comfort brands extended their consecutive months of RevPAR index gains, compared to their focused competition, to 33 months.
  • Effective royalty rate increased 19 basis points for the second quarter of 2017, compared to the second quarter of the prior year.
  • Domestic franchised hotels, as of June 30, 2017, increased 2.6 percent from June 30, 2016.
  • Cambria Hotels surpassed 30 open hotels with three new Cambria Hotels opening during the second quarter, including our first Los Angeles property and our second hotel in Chicago.
  • Domestic and international rooms, as of June 30, 2017, increased 2.2 percent and 1.8 percent, respectively, from June 30, 2016.

Development

  • New, executed franchised hotel development contracts totaled 176 in the second quarter, a 20-percent increase from the comparable period of the prior year.
  • New construction and conversion franchise agreements increased 33 percent and 14 percent, respectively, in the second quarter of 2017, compared to the second quarter of the prior year.
  • The company executed 11 Cambria Hotels new construction franchise agreements in the second quarter of 2017, a 22-percent increase compared to the second quarter of the prior year. The domestic new construction pipeline for the Cambria Hotels brand now totals nearly 70 hotels.
  • Domestic relicensing and contract renewal transactions totaled 127 for the three months ended June 30, 2017, a 19-percent increase from the same period of 2016.
  • The company's total domestic pipeline of hotels awaiting conversion, under construction or approved for development, as of June 30, 2017, increased 22 percent to 721 hotels from June 30, 2016.
  • The new construction and conversion domestic pipelines totaled 523 and 198 hotels, respectively at June 30, 2017, representing increases of 30 percent and 5 percent from June 30, 2016.

To view full quarterly results please visit: http://investor.choicehotels.com/phoenix.zhtml?c=99348&p=irol-newsArticle&ID=2290991

Chesapeake Lodging Trust Reports Second Quarter Results

HIGHLIGHTS

  • RevPAR: 3.7% decrease for the 22-hotel portfolio and 0.2% increase for the 15-hotel portfolio over the same period in 2016.
  • Adjusted Hotel EBITDA Margin: 180 basis point decrease to 35.1% for the 22-hotel portfolio and 90 basis point decrease to 39.5% for the 15-hotel portfolio over the same period in 2016.
  • Adjusted Hotel EBITDA: $57.0 million.
  • Adjusted Corporate EBITDA: $52.3 million.
  • Net income available to common shareholders: $19.2 million or $0.32 per diluted common share.
  • Adjusted FFO: $38.2 million or $0.65 per diluted common share.
  • Financing: Closed on a five-year, $225.0 million unsecured term loan.
  • Preferred share redemption: Subsequent to quarter end, redeemed $125.0 million of 7.75% Series A Cumulative Redeemable Preferred Shares.

To view full quarterly results please visit: http://www.chesapeakelodgingtrust.com/phoenix.zhtml?c=233098&p=irol-newsArticle&ID=2291039

Chatham Lodging Trust Announces Second Quarter 2017 Results

Second Quarter 2017 Key Metrics

  • Portfolio Revenue per Available Room (RevPAR) – Declined 0.5 percent, within the guidance range of flat to minus 1.5 percent, to $140, compared to the 2016 second quarter, for Chatham’s 38, wholly owned hotels. Average daily rate (ADR) improved 2.9 percent to $169, while occupancy declined 3.3 percent to 83 percent.

    • Increased RevPAR 1.7 percent, excluding its six hotels in oil-industry influenced Houston and western Pennsylvania markets where RevPAR declined 20.4 percent.
  • Net Income – $5.0 million versus $12.3 million in the 2016 second quarter. Net income per diluted share decreased to $0.13 versus $0.31 in the 2016 second quarter.
  • Adjusted EBITDA – Declined $1.8 million, or approximately 5 percent, to $35.1 million.
  • Adjusted FFO – Decreased to $25.2 million versus $26.8 million in the 2016 second quarter. Adjusted FFO per diluted share was $0.65 versus $0.69 in the 2016 second quarter, compared to the company’s guidance of $0.60-$0.65 per share.
  • Operating Margins – operating profit margins (total revenue less total hotel operating expenses) slipped 130 basis points but remain a strong 49.4 percent. Comparable hotel EBITDA margins also were off, down 200 basis points to 42.2 percent.

    • Same-store gross operating profit margins were down 40 basis points after stripping out one-time adjustments in its worker’s compensation liabilities that adversely impacted margins approximately 90 basis points.

To view full quarterly results please visit: http://phx.corporate-ir.net/phoenix.zhtml?c=237429&p=irol-newsArticle&ID=2290921

Sunstone Hotel Investors Reports Results for Second Quarter 2017

Second Quarter 2017 Operational Results (as compared to Second Quarter 2016):

  • Net income decreased 21.8% to $51.4 million.
  • Income attributable to common stockholders per diluted share decreased 19.2% to $0.21.
  • 26 Hotel Comparable Portfolio RevPAR increased 2.5% to $188.00.
  • 26 Hotel Comparable Portfolio Adjusted EBITDA Margin, excluding prior year property tax adjustments, net increased 50 basis points to 34.5%. Excluding the Wailea Beach Resort, due to its extensive repositioning during the second quarter of 2016, the Hotel Comparable Portfolio Adjusted EBITDA Margin, excluding prior year property tax adjustments, net would have decreased by 20 basis points.
  • Adjusted EBITDA increased 1.1% to $102.3 million. • Adjusted FFO attributable to common stockholders per diluted share decreased 2.6% to $0.38.

To view full quarterly results please visit: http://phx.corporate-ir.net/phoenix.zhtml?c=181566&p=irol-news&nyo=0

Extended Stay America Reports Second Quarter 2017 Results

Second Quarter 2017 Highlights

  • Comparable Hotel2 Revenue Per Available Room (“RevPAR”) grew 2.4% to $53.04
  • Net Income of $49.7 million
  • Adjusted EBITDA increased 5.0% to $172.8 million
  • Adjusted Paired Share Income1 per diluted Paired Share of $0.31

To view full quarterly results please visit: http://www.aboutstay.com/CorporateProfile.aspx?iid=4409177