System-wide rooms grew organically by 3.5% year-over-year, a record high. Development pipeline grew 1% sequentially and by 10% year-over-year to a record 240,000 rooms.
The Company generated net income of $103 million, or $1.21 per diluted share, compared to $101 million, or $1.13 per diluted share, in third quarter 2022.
On a comparable basis, fee-related and other revenues increased 5% year-over-year primarily reflecting higher royalties and franchise fees resulting from global RevPAR and system growth.
Company Grows Development Pipeline by 11% and Global RevPAR by 12%. Raises Full-Year 2023 Outlook.
Company Exceeds Top End of Full-Year Outlook Grows Development Pipeline by 12% Increases Quarterly Dividend by 9% and Provides Full-Year 2023 Outlook
Company Raises Full-Year 2022 Outlook, Board Increases Share Repurchase Authorization by $400 Million, Company Grows System-Wide Rooms by 4% and Development Pipeline by 10%
Adjusted EBITDA of $159 million compared to $97 million in first quarter 2021.
U.S. RevPAR for the quarter exceeded 2019 levels by 9%, growing 58% versus 2020 - System-wide rooms grew 180 basis points year-over-year, including 70 basis points of growth in the U.S. and 350 basis points of growth internationally
Company Increases Quarterly Dividend 50% and Provides Full Year 2021 Outlook
Global RevPAR declined 11% compared to first quarter 2020 and 31% compared to first quarter 2019 in constant currency.