RTTNews | Nov 5, 2020 09:06AM EST

09:06 Thursday, November 5, 2020 (RTTNews.com) - Choice Hotels International, Inc. (CHH) on Thursday reported net income for the third quarter of $14.50 million or $0.26 per share, down sharply from $76.24 million or $1.37 per share in the year-ago period.

Adjusted earnings were $0.66 per share, compared to $1.37 per share last year.

Total revenues for the quarter declined 32 percent to $210.77 million from $310.73 million in the prior-year quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.74 per share for the quarter on revenues of $207.72 million. Analysts' estimates typically exclude special items.

Total revenues for the quarter, excluding marketing and reservation system fees, declined 33 percent from last year to $103.6 million. Domestic system-wide revenue per available room or RevPAR decreased 28.8 percent compared to the year-ago period.

Choice Hotels said it is not providing formal guidance for fiscal 2020 at this time as the impact of COVID-19 on the full year is still unknown.

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