Choice Hotels International, Inc. (NYSE:CHH) Q1 2023 Earnings Conference Call May 9, 2023 10:00 AM ET

Company Participants

Allie Summers - Senior Director-Investor Relations

Pat Pacious - President & Chief Executive Officer

Dom Dragisich - Chief Financial Officer

Conference Call Participants

Michael Bellisario - Baird

Shaun Kelley - Bank of America

Stephen Grambling - Morgan Stanley

Gregory Miller - Truist Securities

Dan Wasiolek - Morningstar

Joe Greff - JPMorgan

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Choice Hotels International Inc. Q1 2023 Earnings Call. At this time all lines are in a listen-only mode.

I will now turn the conference over to Allie Summers, Investor Relations, Senior Director for Choice Hotels.

Allie Summers

Good morning, and thank you for joining us today. Before we begin, we’d like to remind you that during this conference call, certain predictive or forward-looking statements will be used to assist you in understanding the company and its results. Actual results may differ materially from those indicated in forward-looking statements, and you should consult the company’s Forms 10-Q, 10-K and other SEC filings for information about important risk factors affecting the company that you should consider. These forward-looking statements speak as of today’s date, and we undertake no obligation to publicly update them to reflect subsequent events or circumstances.

You can find a reconciliation of our non-GAAP financial measures referred to in our remarks as part of our first quarter 2023 earnings press release, which is posted on our website at choicehotels.com under the Investor Relations section.

This morning, Pat Pacious, our President and Chief Executive Officer and Dom Dragisich, our Chief Financial Officer, will speak to our first quarter operating results and financial performance. Following Pat and Dom’s remarks, we’ll be glad to take your questions.

And with that, I’ll turn the call over to Pat.

Pat Pacious

Thank you, Allie and good morning everyone. We appreciate you taking the time to join us. It's been a rewarding and successful start to the year. We generated impressive earnings, exceeding the top end of our prior guidance, delivered strong RevPAR growth and are ahead of plan, integrating the Radisson Hotels Americas business unit. This robust performance has enabled us to invest in our business to drive long-term growth and return a meaningful amount of capital to our shareholders.

Today, I want to outline four business value drivers that we believe are propelling the future success of our company. First, we drove our adjusted EBITDA performance to record levels and we have carried our strong momentum into 2023. Second, we are executing a distinct strategy that is strengthening our competitive position. Third, we've positioned the company to capitalize on long-term consumer and travel trends that are favorable to our brands. And finally, we are excited to onboard the Radisson Americas brands on to Choice Hotels' world-class business delivery platform, which we expect will further accelerate our transformative growth.