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August 5, 2014
07:37 EDTCHHChoice Hotels to change revenue recognition practice
Choice Hotels International announced that the Company will change its practice of accounting for royalty and certain marketing and reservation fees in order to comply with generally accepted accounting principles in the U.S. by reporting these fees in the same period that the underlying gross room revenues are earned by the Company's franchisees rather than one month in arrears. This change will result in immaterial upward adjustments to annual statements and will result in certain quarterly and interim periods being restated.
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