Choice Hotels International, Inc. (NYSE:CHH) Q1 2022 Earnings Conference Call May 10, 2022 10:30 AM ET

Company Participants

Allie Summers - Director of Investor Relations

Patrick Pacious - President & Chief Executive Officer

Dominic Dragisich - Chief Financial Officer

Conference Call Participants

Shaun Kelley - Bank of America

Robin Farley - UBS

Patrick Scholes - Truist Securities

Eric Field - Jefferies

Operator

Ladies and gentlemen, thank you for standing by. Welcome to Choice Hotels International First Quarter 2022 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 Director for Choice Hotels.

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 the reconciliation of our non-GAAP financial measures referred to in our remarks as part of our first 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 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.

Patrick Pacious

Thanks, Allie, and good morning, everyone. We appreciate your taking the time to join us. It's been a rewarding and successful start to the year. Choice Hotels generated record earnings, continued our industry-leading RevPAR growth and attracted significant new developer interest in our portfolio of proven hotel brands. Consumer trends such as remote work, rising wages, retirements and road trips are all expected to fuel future demand.

I'm pleased to report that we generated $96.6 million of adjusted EBITDA in the first quarter, a 53% year-over-year increase and a 28% increase when compared to the same quarter in 2019. At the same time, we expanded our adjusted EBITDA margins to 74% year-over-year.