Third quarter financial results for Choice Hotels International showed mixed results, with a decline in net income despite RevPAR growth. The group reported net income of $41.5 million, a 6% year-on-year decline from 44.3 million dollars during the third quarter of 2012. However, growth is apparent in the group's revenue figures. In the US market where Choice has the greater part of its network, franchise contracts rose by 45% for a 6% increase in franchising revenues and franchising operating income, showing a move towards asset-light. The group's establishments have also been showing positive indicators in Q3 2013. US average daily rates for the group's establishments rose to $80.14 from $78.63 during Q3 last year. Occupancy also rose slightly from 63% to 63.7%. These two favorable indicators within the Choice family of hotels resulted in the group's overall RevPAR growth to $52.63 in the third quarter of the year, as opposed to $51.09 last year. Choice Hotels expects this pattern to continue throughout the rest of the year, with an expected 2% RevPAR increase.
