Benzinga | May 10, 2021 09:10AM EDT

Choice Hotels International Says Co Is Not Providing Formal Q2, FY21 Guidance, Says Precise Impact Of COVID-19 On Co's Future Results 'Is Still Unknown'

Outlook

The company is not providing formal guidance for second quarter or full year 2021 given that the precise impact of COVID-19 on the company's future results is still unknown.

For the month of April 2021, the company's RevPAR declined by approximately 4.2% versus April 2019 while occupancy levels increased by 80 basis points from April 2019, marking near returns to 2019 RevPAR levels. The company currently expects RevPAR change for the remainder of 2021, as compared to both 2019 and 2020, to outperform first quarter 2021 results as compared to both 2019 and 2020.

The company will continue to evaluate the impact of COVID-19 across its business and will provide further updates in the next earnings report based on the best information then available.