Choice Hotels International, Inc. (NYSE:CHH) Q2 2022 Earnings Conference Call August 4, 2022 8:00 AM ET

Company Participants

Allie Summers - Investor Relations

Pat Pacious - President and Chief Executive Officer

Dom Dragisich - Chief Financial Officer

Conference Call Participants

Michael Bellisario - Baird

Dany Asad - Bank of America

Robin Farley - UBS

Patrick Scholes - Truist

Eric Field - Jefferies

Dan Wasiolek - Morningstar

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Choice Hotels International’s Second Quarter 2022 Earnings Call. [Operator Instructions] At this time, I will turn the conference call over to Allie Summers, Investor Relations Director for Choice Hotels. Ma’am, please begin.

Allie Summers

Good morning and thank you for joining us today. Before we begin, we would 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 second quarter 2022 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 second quarter operating results and financial performance. Following Pat and Dom’s remarks, we will be glad to take your questions.

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

Pat Pacious

Thanks, Allie and good morning everyone. We appreciate your taking the time to join us. The second quarter was a truly remarkable one for our company. We once again outperformed the industry in RevPAR growth, accelerated our capital recycling progress and announced the most significant acquisition in our company’s history. In June, we announced the acquisition of Radisson Hotels Americas.

Today, I am pleased to share that we remain on track to close the transaction this month. This transformative acquisition of Radisson Hotels Americas’ 9 brands is expected to significantly accelerate Choice’s long-term asset-light strategy of growing our business in higher revenue travel segments and locations. We strongly believe that this transaction will enable us to achieve our dual goals of delivering greater return on investment for franchise owners while growing the newly acquired brands to drive meaningful value creation for our shareholders.