Choice Hotels partners with Maplewood Hotels in Canada Choice Hotels is partnering with Maplewood Hotels & Resorts to develop new Cambria Suites properties in Canada. Maplewood is a joint venture between Driftwood Hospitality Management and Pacrim Hospitality Services Inc.
Choice Hotels sees FY14 EPS $1.99-$2.02, consensus $1.96 EBITDA for full-year 2014 are expected to range between $216 million and $219 million. The effective tax rate for continuing operations is expected to be 30.7% and 30.3% for the fourth quarter and full- year 2014, respectively. EBITDA from franchising activities for full-year 2014 are expected to range between $234 million and $237 million; Net domestic unit growth for 2014 is expected to range between 1% and 2%; RevPAR is expected to increase approximately 9% for the fourth quarter and range between 8% and 8.5% for full-year 2014; The effective royalty rate is expected to decline 5 basis points for full-year 2014 as compared to full-year 2013. Reductions in EBITDA relating to our investment in the SkyTouch division for full-year 2014 are expected to be approximately $18 million; Execution of third-party contracts results in annualized revenue ranging between $4 million and $6 million with realized revenues for the year ended December 31, 2014 totaling approximately $1 million; and SG&A expenses are forecasted to be approximately $19 million related to investment in business development, sales and marketing and non-capitalizable product development expenditures related to the division's cloud-based hotel operating system's technology related products and services.