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March 17, 2020, 6:46 p.m. EDT

Choice Hotels pulls outlook on coronavirus impact

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    Choice Hotels International Inc. (CHH)

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By Wallace Witkowski

CHH

Choice Hotels International Inc. /zigman2/quotes/202943946/composite CHH +1.77% said late Tuesday it was pulling its first quarter and full-year outlook because of the COVID-19 coronavirus impact. Analysts surveyed by FactSet had forecast earnings of 81 cents on revenue of $231.8 million for the first quarter, and $4.18 a share on revenue of $1.17 billion for the year. Back in mid-February, Choice Hotels had forecast adjusted earnings of 80 cents to 84 cents a share for the first quarter, and $4.22 to $4.33 a share for the year. "We are not able to precisely quantify the impact on our projected results at this time, given the uncertainty surrounding the impact of COVID-19 on the global hospitality industry - and specifically on the U.S. travel market, where the majority of our franchised hotels are located - as well as the rapidly changing circumstances impacting our hospitality franchising business, directly and indirectly," said Patrick Pacious, Choice Hotels president and chief executive, in a statement. "We will continue to closely monitor the situation and expect to provide an update during our first-quarter earnings call based on the best information then available."

/zigman2/quotes/202943946/composite
US : U.S.: NYSE
$ 86.32
+1.50 +1.77%
Volume: 409,354
Sept. 25, 2020 4:00p
P/E Ratio
28.22
Dividend Yield
0.00%
Market Cap
$4.78 billion
Rev. per Employee
$553,296
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