Highlights
- Net income increased 16% to $299.7 million for full-year 2024, representing diluted earnings per share (EPS) of $6.20, a 22% increase compared to 2023, both of which exceeded the top end of the company's full-year 2024 guidance.
- EBITDA for full-year 2024 increased 12% to a company record of $604.1 million.
- Adjusted diluted EPS increased 13% to $6.88 for full-year 2024, compared to 2023.
- Entered into a strategic partnership with resort operator Westgate Resorts, which added 21 hotels and 14,471 rooms to the domestic portfolio in fourth quarter 2024, expanding Choice Privileges members' access to over 180,000 upscale, upper-upscale, and luxury rooms worldwide.
- Increased domestic RevPAR by 4.5% for the three-month period ended December 31, 2024, compared to the same period of 2023.
- Repurchased 3.1 million shares of common stock for $382.1 million during full-year 2024, representing 6% of the company's market capitalization at the beginning of 2024.
- Full-year 2025 net income is expected to range between $288 to $300 million; full-year 2025 adjusted EBITDA is expected to range between $625 and $640 million.
"Choice Hotels generated another year of strong results in 2024, exceeding the top end of our earnings guidance," said Patrick Pacious, President and Chief Executive Officer. "In 2024, we also successfully relaunched four brands, substantially expanded our partnerships business, significantly increased our international footprint, achieved record organic rewards program growth, and unlocked new value through additional ancillary revenue opportunities. As we enter 2025, we will continue to realize the earnings growth from our past investments, meaningfully expand the scale of our business, and accelrate our growth in the coming years." / red
Further details on the results for the fourth quarter of 2024 and the full year 2024 can be found on the Choice website.
