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Press Release Source: Choice Hotels International, Inc.
October 21, 2002
SILVER SPRING, MD -- Choice Hotels International, Inc., (NYSE:CHH) Friday announced that the company will report
diluted earnings per share (EPS) of $0.54, which will exceed the consensus estimate of $0.52 by two cents. The
company also will report EBITDA for the quarter of $39.3 million, a 2.3% increase over the prior year. These results
are supported by strong unit growth in domestic hotels for the third quarter of 4.2%.
The company believes the full year EPS will be in a range of $1.47 to $1.49.
"We are extremely pleased that Choice continues to produce strong results in a sluggish economic climate,"
said Charles A. Ledsinger, Jr., president and chief executive officer. "Choice's basic franchising model has
demonstrated its fundamental strength to perform in a wide range of economic circumstances, which keeps us well-positioned
for future success."
The company is scheduled to release its full third quarter earnings report following the close of trading on the
New York stock exchange on Tuesday, October 29, 2002. A conference call to discuss third quarter results is scheduled
for Wednesday, October 30, at 9 a.m. Eastern time. The call-in number to listen to the call is 1-888-273-9886.
The conference call also will be Webcast simultaneously via the company's Web site, www.choicehotels.com
Choice Hotels International is the world's second largest lodging franchisor, marketing more than 5,000 hotels
open or under development in 46 countries under the Comfort Inn, Comfort Suites, Quality, Clarion, Sleep, Econo
Lodge, MainStay Suites and Rodeway Inn brand names.
Certain matters discussed in this press release may constitute forward-looking statements within the meaning of
the federal securities law. Such statements are based on management's beliefs, assumptions and expectations, which
in turn are based on information currently available to management. Actual performance and results could differ
from those expressed in or contemplated by the forward-looking statements due to a number of risks, uncertainties
and other factors, many of which are beyond Choice's ability to predict or control. For further information on
factors that could impact Choice and the statements contained therein, we refer you to the filings made by Choice
with the Securities and Exchange Commission, including its registration statement on Form S-4 and report on Form
10-Q for the period ended September 30, 2001.
Additional corporate information may be found on the Choice Hotels' Internet site, which may be accessed at www.choicehotels.com.
Choice Hotels, Choice Hotels International, Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge,
MainStay Suites, Rodeway Inn, and The Power of Being There. Go are proprietary trademarks and service marks of
Choice Hotels International.
(c)2002 Choice Hotels International, Inc. All rights reserved
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Contact:
Choice Hotels International, Inc.
John Hawkins, 301/592-5075
Fax: 301/592-6177
john_hawkins@choicehotels.com
or
Joe Squeri, 301/592-5006
joe_squeri@choicehotels.com
Source: Choice Hotels International, Inc.