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Choice Hotels International CEO Steve Joyce on how Hurricane Sandy will impact the hotel industry in the fourth quarter.
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On this travel -- Choice Hotels the operator of chains like comfort and -- on and -- echo -- McConnell lodge had 36 hotels in the path of hurricane sandy.
A throughout new York New Jersey Connecticut under another -- -- -- international CEO.
-- -- so I know that you -- 36 hotels affected Steve how are they doing today what are conditions like.
Actually they're doing better most of them -- -- back open and operating M -- take trying to take care of the people -- just been hit with a calamity were working on several different fronts.
We've got folks that are reaching out to the community helping them just from our franchisee base but also service in the community through the hotels.
We've got utility crews sleep in -- meeting rooms were -- we can to help.
And the good thing is while we had almost a thousand hotels in the line of that storm.
We did have 38 that had some sort of interruption but most were down to single digits in terms of those that are still without power not operating or accepting guests.
All -- you had a very strong third quarter you -- -- handily beat.
Earnings per share you handily beat on the revenue side very concerned -- the hurricane that that the fourth quarter.
May be in jeopardy.
Well not really because what's happened is while there might have been a little bump but first we filled right back up with all the folks that either.
Don't have housing -- folks that are helping.
-- gonna -- gonna help rebuild those communities so.
You know we're we're actually looking at at a situation where we think that demand was already strong in this would probably.
Keep -- as strong at least for the fourth quarter and into next year.
And then the other good thing about our company is.
While this is an important area to as were spread all over the country with 5000 hotels and so while this is an important region force it's not.
It's not a significant part of the overall inventory for us and quite frankly those hotels are full and operating room were able to help those in the community.
Also indicted -- -- -- -- -- 16100 worldwide at this from a -- ask -- about something else one of the things they're really working on right now you've got a big message for the administration.
You want them to ease up on Visa requirements you're trying to get more tourists to come.
To this country what exactly is it that you want to congress the president today's -- Why this is this is the great thing good particularly after the election because this is truly -- bipartisan issue it's all about jobs.
For every 33 international travelers -- -- -- we generate another job it's good for Choice Hotels is good for the hotel industry and it's good for America you know.
Were -- a lot of jobs in the hotel industry it's the fastest growing area of the of the of the economy 16% 300000 jobs added since 09.
And if we can continue to add the Visa waiver countries have continue to improve the -- so.
Access to bill availability to those in those countries that want to travel here that is a clear way to help this economy -- it's a clear way to create jobs.
And it's something that not only the administration who's been a big supporter of it.
But everyone in congress can support most.
Or somebody can you know leave Brazil and go to France with no Visa but they've got all these headaches -- to the US -- they're gonna got to France have been that's a good point Steve I don't as suitable swelling U Geithner you're talking about job creation.
Is Choice Hotels hiring right now -- that you're going to be adding US jobs.
We are we are we've got a number of things were were growing you know obviously with the new distribution area of social media.
Electronic distribution were hadn't folks in those areas and net net the company's grown and we expect to be a higher this year and next.
A case you are going to be hiring this year or next year.
Absolutely OK all right Steve Joyce thank you very much and of course -- -- all your hotel.
Ever -- that have been in the past the sandy as well thank you Steve.
Thank you Sheryl.
