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Choice Hotels CEO on Expanding in U.S. and Caribbean

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  • Description

    Choice Hotels International CEO Steve Joyce weighs in on the state of business.

  • Duration 3:19
  • Date

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This transcript is automatically generated

We'll try hotels international -- a quarterly dividend of eighteen cents a share just two days separating its full year forecast on the heels of a stronger than expected first quarter report.

Joining me now for a box this exclusive interviews CEO president Steve -- and Steve -- to -- you -- -- not your forecast for revenue.

-- -- doesn't need as the number in the hotel industry what -- seen it.

It is the number tells us how about how well we're doing how many customers are coming of the hotels.

And what they're willing to pay -- -- action was a very encouraging quarter looks like things are -- up for the summer.

-- sixty foreign and domestic hotel franchise contracts we -- say about being -- crux of your business is the franchisee.

Over the getting financing the franchisees are getting stronger it is up the case there.

Finally -- -- the first quarter was a really good quarter for us we're up almost 15%.

How -- is a very encouraging sign in the transactions in the hotel market seem to be picking up so it looks like we're finally getting around to positive development environment again.

Let's talk about the customer overall we're looking at your brands but in our viewers probably know this from looking at your stock but.

You know you're the mid tier -- the lower consumer.

From an economic perspective -- -- releasing a lot of -- operating income up 21%.

So it looks like that.

Value leisure traveler is coming back be taken as a positive sign for the overall economy.

Absolutely because that we you know we represented the 99% out there and they are common back their -- us they're gonna travel in big numbers.

They feel good about where the economy's headed and most importantly they feel good about their employment.

Which is our key indicator and so what we're seeing is.

First quarter was a good start but it looks like the years gonna continue to build.

Let me ask you this and I was looking at the net income twenty million dollars -- -- was that was on the basis of the fact -- -- got these travelers coming back at the same time.

You're really excited about expanding in the -- and we had -- CEO Arne Sorenson on a couple of weeks ago same thing he's that I like Latin America like the Caribbean.

Your -- I don't for that market.

Why why Caribbean while -- America why -- Asia right now.

Well I think the biggest issue is right now the Caribbean kind of went through big dip when -- with the recession and everything else.

Now it's clearly coming back it's a value for US travelers.

We have a huge presence the United States which generates a lot of customers.

And our customers are saying they want product in the Caribbean and the ready to travel there that's actually the number one destination.

Today for our customers.

Our -- let me ask you this about about the overall hiring picks from always curious.

If you're going to be hiring expanding because that means it could -- only jobs.

In the US market North American market but also that's a sign of the company's strength today they're going to be hiring for the rest of the year whether it's through the corporate channels or through the franchisees.

Yeah I can -- in our case we're actually hiring at the company because things are up but we're expecting things you grow we're also looking at some new opportunities.

But I can tell in talking with our franchisees.

They're getting their business -- so they're adding people back to their hotels.

To help take care the customers and they're also very positive now about doing new deals.

Which is something that's been warming up -- the last six months but really showed in the numbers in the first quarter.

We'll stay there was a heck of a quarter again the numbers -- beating the street -- investing is great to have you on the show again we'll see in the next quarters to enjoys.

Thank you very much aren't gonna.

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