good Thanks, everyone. morning, and Pat,
fundamentals our results, brands Lodging to remain build perform hotel again our quarter for with owners. exceeded pleased very our to robust first are and our continued continue quarter and strong, financial upon expectations performance. which We second
to As in in business reforms low continued our our levels to business shareholders. strength and have our our grow, and return capital The three result, leverage expand we tax to performance, major us ways. operating a invest allowed continue in
in continued Our highlighted, the as brand Suites and of Comfort tools, investment our the and our the WoodSpring best-in-class and provide acquisition to that Cambria, transformation and programs franchisees well-segmented in we the brand quarter XXXX, investments. portfolio, of including customers, key brand technology of first of growth Pat other
core flows excess business to to our reinvest and our cash both shareholders. return Our capital us in allow significant
stock $XX additional million our in addition our we quarter. common quarterly to of dividend, an the In second repurchased
future million XXXX. now allow allocation the in of to on growth model, stock capital have will our our of $XX continue believe the Choice positive for strategy. execute strength environment to over business economic and us runway repurchased We We our
second quarter outlook and in detail. let’s review our more Now, results
the million, a revenue Our over prior EBITDA quarterly we over share financial by the the year prior the second of was per highlighted adjusted of year. reported over XX% $XX.X increase performance quarter. Furthermore, adjusted period a of increase and prior year quarter diluted $X.XX, of earnings growth XX% XX% same
earnings diluted share adjusted performance share. of per As per mentioned, guidance by end exceeded our Pat this the high $X.XX
factors: which guidance quarter per share; rate lower tax our exceeded XX%. income Our by effective top core a outperformance primarily of of end for and operations, initial two expectations share forecast compared tax the our approximately was was by per due our franchising benefits. earnings lower XX% $X.XX This driven to our the onetime was rate to on
are of our full XX%. tax XX% We expectation compared to year previous now rate our to forecasting recurring be
Our to hotels. to incremental drive revenues commitment to franchisee continues profitability
result, quarter As increased a million. $XXX.X same XX% prior period our revenue of franchising year second approximately from the hotel the to
fees, Our our driven royalties $XX.X increased was continued the key domestic million. in XX% was hotel The fueled our franchising to by growth growth all our levers. royalty expansion which of three revenue domestic royalty by domestic of
our our rates, improvement We increased points XXXX the remainder the over focus us of franchisees metrics increased of and by the driven continue pricing daily Specifically, providing beyond. to continued of period prior will us the quarter, customers and effective for directly in believe same to loyalty number basis year. domestic to in and the grow both units second X.X%, increasing occupancy help optimize X.X%, key increased average on these with domestic and by rate XX RevPAR allow resources booking domestic continued our
we’ll Now, detail of the our domestic about RevPAR more drivers performance. share
of impressed brands, extended our the are performance perform continued We exceptionally whose with well. segment particularly to stay
quarter quarter respectively. and which our of their was brands, growth and competitive WoodSpring Our increases by second led X%, by MainStay posting XX% segments second RevPAR beat
increase Ascend, segment STR RevPAR of quarter gains and posted X.X% by for higher respectively, X.X%, In second upscale Cambria significantly and the X.X% brands, reported addition, the than our upscale Global.
mentioned, so of have Pat pace many well Modern franchisees to the our Move package new project Modern currently multiyear adopting Comfort completing the Move that are underway. response is to been our positive and has As transform to renovations. brand our via brand The logo and to accelerated of the image their
acceleration has believe RevPAR approximately this we the term, performance. by short positive of is the Comfort renovations for the Comfort the during room the long-term brand points quarter, basis in While the negatively initiative for impacted XX significant a brand’s second
quarter the expect third tougher activity third range to eclipse solar and to X.X%. occurred the quarter, between and This domestic RevPAR to flat on third the quarter as growth as is Move comparable the For our hurricane in Modern that we short-term well due guidance RevPAR XXXX. impacts based results the of
from domestic Move our our that positive program expect impacts X.X% RevPAR and X%, of also for Comfort a hotels same full year to We system-wide Modern to end by to the their complete from range XXXX We the driven year growth renovations by factors. estimate expect the net RevPAR. to of approximately the be will the XXXX X/X
respectively. of lever, revenue rooms and increased strong second unit units our domestic and in The room experienced number and growth, system X.X% X.X%, The another quarter.
which prior in strong which domestic its Our brand quality a hotels, developers performance unit growth segment. year. is valued the units brand, number the is of Quality, over saw our by acquisition and increase fueled for by approaching awareness is mid-scale and X% in the the X,XXX WoodSpring
the MainStay unit stay by extended brand Our X%. robust capitalizing is demand its count product nearly on and for increased
We expect more growth to demand several trends. brand the to thanks the and MainStay portfolio, years, extended acquisition in there WoodSpring experience stay our is favorable to strong renewed continue the interest as consumer in next
off. profitability paying Our focus on franchisee steadfast is
comparable XXX quarter XXXX. agreements XXXX, half X% over the contracts, franchise performance company new of franchise where given XX, of awarded increased record strong we growth increased of a quarter, second impressive more XX% number This domestic the June period. to from XXX, newly even XX% the the the the increase awarded in in reach only second During is second to domestic XXXX first Through the set agreements franchise XXXX.
system our to addition it’s In size growing, getting younger.
increased We in second comparable with new which first over for XX% quarter the domestic particularly pleased increase year. for construction are agreements, of period the the prior franchise XX% and half the
also is growth. our unit increase domestic represents increased XX, and XXX pipeline rooms. June period short both an fuel over domestic expected XX,XXX prior to pipeline This of approximately This long-term the hotels. overall of As to XX% robust
pipeline three and hotels the was higher these Specifically, conversion period we expect to same within midyear the our six months. to conversion than time of year, next prior the at open XX%
as RevPAR will Our XX for XX% June grown and new a unit, growth. pipeline our and construction catalyst of has rooms be long-term
In we fact, expect brand. ground this alone XX year WoodSpring breaks from Suites our
an now In addition year. of construction of Sleep the Inn hotels highlighted, prior to brand pipeline, robust our in has the over its pipeline Comfort same new the construction that new XX% Pat increase XXX period
range are X%. our to guidance and For X% expected full XXXX, maintaining domestic unit between we growth and year
We excluding expected unit to also acquisition, when return increase the both the growth, room XXXX accelerate is due WoodSpring family in onetime to also to brand expect unit net growth. and the Comfort to
lever and revenue agreements. is continued royalty to final driven pricing which be third rate of The growth, franchise the by our
expand, mentioned, to our continue prior robust compared of royalty pricing XX development further. The basis and by end basis our year our the than improve effective bottom Pat are combination range world-class cutting-edge proposition full our our X the As end year. Therefore, us the even rates of now technology to period domestic higher value platform XX continue increasing was and to our strengthen This allow points. royalty the at same expect distribution X effective XX rate guidance, should between channels in increasing quarter team, growth basis at strong second of basis to and and guidance brands, franchise and we points points by to points top the growth expected.
substantial in top As three and levers line performance quarter franchising first the second impressive half our growth. resulted revenue you’ve key heard, of
prudently to costs. SG&A continue we addition, manage In
from quarter. year hotel result, As XX% second our the increased prior franchising adjusted a EBITDA
XXX the XX.X%. margins in adjusted points addition, improve were quarter franchising nearly hotel In second by our basis to we able to
Before remainder to it in our we to like questions, May, the adjusted on open the to we guidance outlook of for the comment I’d provided up Similar year. adjusted our EBITDA, share net impacts the income earnings utilizing presented new adjusted and WoodSpring forecasts prepared standard include revenue in the our per the of were section and acquisition. release of outlook recognition the
excludes the activities. full our our the and by to as costs and the integration results earnings and impact the on our surpluses the as both quarter the deficits impact year, to we or between $XXX of now acquisition-related are net of franchising However, million marketing second reservation onetime between Based of million. remainder $XXX $XXX range generated adjusted EBITDA and We well and adjusted range for outlook and adjusted EBITDA share expect adjusted increasing million, year forecasts. and EBITDA per $XXX our million hotel outlook
In to between for share. $X.XX per X.XX range increasing we our addition, diluted guidance earnings $ are adjusted to share per
our guidance franchising adjusted maintained, per diluted expected our pleased range from to quarter. to are our quarter million. with and reductions we share. $X.XX $X to non-hotel is summary, third per for the and In with share strong very Our operations we for $X second earnings being expect between And net million EBITDA $X.XX be
that show working. our is results Our strategy
and overall and strong key confidence this optimistic growth market, supply answer Pat and dynamics would against the are any franchise I that a which financial our lodging and performance. development happy to labor At our results momentum be royalty time, We questions. background levers, consumer will positive maintain to provide of
