The company posts growth in revenue from 2022
On February 15, 2023, Choice Hotels released its financial earnings from 2022. As part of its earnings, the company cited that its revenue mounted up to $1.4 billion in 2022, which the company cited is a 31.0% increase from 2021. The company cited that its RevPAR (revenue per room) grew 14.6% from 2019, another strong indicator of its growth in the period. The company reported its continued development in growing its brand with its high-performing hotels along with its continued development of building its profitability in its franchises helped grow its revenue.
Balance SheetIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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