Choice’s Third-Quarter Profit Falls 9 Percent

Choice Hotels posted a $32.8 million profit in the third quarter, down 9 percent from the same period last year.

The company, which franchises mainly economy and mid-priced hotels –including Comfort Inn, Quality Inn and Clarion- said revenue in the quarter was down 13 percent, to $166 million. Revenue per available room was down 15.9 percent for the quarter.

“Our well-known diversified brands and our unrelenting focus on our owners’ property-level profitability and return on investment has fueled our continued unit and room growth in the face of a continued difficult economic and lodging industry environment,” said Choice Hotels CEO Stephen Joyce.