Choice Hotels Q3 adjusted EPS $2.33, RevPAR up 3.8%, lifts outlook

Choice Hotels reported Q3 net income of $58M ($1.28 diluted), down 68% on a prior-year gain and current charges. Adjusted EPS rose 11% to $2.33. U.S. RevPAR increased 3.8%. The company raised its full-year RevPAR and adjusted EBITDA guidance. U.S. net rooms were flat year-over-year but improved sequentially; franchise agreements awarded rose 24%. Choice sold two owned hotels post-quarter, retaining franchise agreements, and returned $211M to shareholders YTD.