Comfort Inn 2013 Annual Report Download - page 51
Download and view the complete annual report
Please find page 51 of the 2013 Comfort Inn annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41 -
42 -
43 -
44 -
45 -
46 -
47 -
48 -
49 -
50 -
51 -
52 -
53 -
54 -
55 -
56 -
57 -
58 -
59 -
60 -
61 -
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
 |
 |
Table of Contents
Franchising Revenues: Franchising revenues were $302.2 million for the year ended December 31, 2012 compared to $285.4 million for the year ended
December 31, 2011, a 6% increase. The increase in franchising revenues is primarily due to a $15.4 million or 6% increase in royalty revenues and a $1.4
million or 18% increase in other revenue.
Royalty Fees
Domestic royalty fees for the year ended December 31, 2012 increased $15.5 million to $235.7 million from $220.3 million in 2011, an increase of
7%. The increase in domestic royalties is attributable to a combination of factors including a 6.2% increase in domestic RevPAR, a 0.8% increase in the
number of domestic franchised hotel rooms and a 1 basis point increase in the effective royalty rate of the domestic hotel system from 4.32% in 2011 to 4.33%
in 2012. System-wide RevPAR increased due to a 200 basis point increase in occupancy rates and a 2.5% increase in average daily rates.
A summary of the Company’s domestic franchised hotels operating information for the years ending December 31, 2012 and 2011 is as follows:
Comfort Inn
$79.41
57.5%
$45.62
2.7 %
190 bps
6.1%
Comfort Suites
83.72
58.6%
49.09
2.1 %
310 bps
7.4%
Sleep
69.96
53.6%
37.49
3.5 %
270 bps
8.7%
Quality
67.75
50.0%
33.86
2.5 %
160 bps
5.9%
Clarion
73.89
46.9%
34.64
1.4 %
250 bps
6.9%
Econo Lodge
54.71
47.5%
25.96
2.0 %
100 bps
4.2%
Rodeway
51.87
48.7%
25.27
2.9 %
210 bps
7.4%
MainStay
66.16
67.7%
44.80
4.8 %
270 bps
9.0%
Suburban
40.26
67.5%
27.15
3.4 %
220 bps
6.9%
Ascend Hotel
Collection
113.59
60.3%
68.44
(0.2)%
410 bps
6.6%
$71.83
53.5%
$38.44
2.5 %
200 bps
6.2%
____________________________
* Operating statistics represent hotel operations from December through November and exclude Cambria Suites since the operating statistics are not
representative of a stabilized brand, which the Company defines as having at least 25 units open and operating for a twelve month period.
The number of domestic rooms on-line increased to 396,102 rooms as of December 31, 2012 from 392,826 as of December 31, 2011, an increase of
3,276 rooms or 0.8%. The total number of domestic hotels on-line increased by 82 units or 1.6% to 5,083 as of December 31, 2012 from 5,001 as of
December 31, 2011.
51