X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SILVER SPRING, MD-Choice Hotels reports net income for the third quarter of 45 cents a share, compared with 37 cents a share for the same period a year ago. The hotel frachisor says it beat expectations for the quarter ended September 30 by four cents a share. However, Zacks Investment Research Inc. indicates that three analysts show a mean estimate of 43 cents share, which the company still beat by 2 cents.

In a statement, company president and chief executive Charles Ledsinger Jr. says Choice Hotels is less susceptible to economic cycles than the company’s owner-operator competitors. “While the long-term effects of the aftermath of September 11 are not yet known, we expect our brands and hotels to be less sensitive to the overall industry decline, given our franchise structure and hotel locations,” says Lesinger. But Choice Hotels is not totally protected. The company expects earnings per share to be in a range of 27 cents to 31 cents a share for the fourth quarter, below a consensus estimate of 35 cents, according to Zacks. Moreover, the company has lowered its 2002 estimate to $1.31 to $1.37 a share; versus the mean estimate of $1.45 a share.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.