After a brutally cold winter in the U.S., it’s almost time to start booking a summer vacation. And, with the U.S. economy continuing to improve, more Americans may be planning summer getaways. Choice Hotels International, operator of brands like Comfort Inn and Econo Lodge, is coming off a solid first quarter. Revenue per available room rose 10%, while the company’s average daily room rates continued to trend higher. The first quarter results from Choice Hotels International, and rival Marriott, suggest that the summer vacation season could be quite strong. For Choice Hotels International, there is more going on than a single quarter of earnings. For one, the company is undergoing a major refresh of its Comfort Inn brand. A key aspect of that renovation is to make its hotels more accessible to millennial vacationers. Choice Hotels International President and CEO Steve Joyce shares his insights into several industry trends before the weather warms up.
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