Choice Hotels International Inc. said in its second-quarter earnings release that it expects its full-year adjusted EPS in the range of $4.16 to $4.22, an increase from the previously provided range of $4.06 to $4.18.
The hotelier also provided third-quarter adjusted EPS guidance in the range of $1.25 to $1.29.
In late July, Choice redeemed a third party's remaining equity stake in a joint venture that held four Cambria hotels, bringing its outstanding investment under the Cambria program to about $553 million. Choice does not intend to own the hotels permanently.
The S&P Global Market Intelligence consensus EPS estimates for the third quarter and full year are $1.28 and $4.18, respectively.