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Choice’s midscale play keeps 1Q numbers buoyant

A midscale market position with roadside locations is helping Choice Hotels International weather the coronavirus crisis and outperform peers. Choice CEO Patrick Pacious told analysts Monday that occupancy rates have climbed since early April and reached 39% last week. Systemwide occupancy averaged above 30% since the week of April 12, according to the Rockville, Maryland-based company’s first-quarter earnings report (read the full report here). As of May 6, 97% of the company’s 5,920 U.S. hotels were open, while fewer than 20% of the chain’s 1,210 international hotels had closed temporarily. Most activity is coming from business travelers who usually represent…
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