• Choice franchising strength

Earnings per share were up 23% in the first quarter at Choice Hotels, with franchising ebitda up ahead of expectations by 15%. Revpar was up 5.6% with both occupancy and room rate improving.

Choice executed 59 new domestic hotel contracts in the first quarter, compared with 83 in the same period of 2013. Revpar growth is expected to be around 5% for each of the next three quarters.
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