Choice Hotels Reports Full Year 2009 Adjusted Diluted EPS of $1.71, Domestic Unit Growth of 4.0%

•Adjusted diluted earnings per share ("EPS") for full year 2009 were $1.71 compared to $1.77 for full year 2008. Diluted EPS were $1.63 for full year 2009 compared to $1.59 for 2008. Adjusted diluted EPS for full year 2009 and 2008 exclude special items, as described below, totaling $0.08 and $0.18, respectively.
•Excluding special items, adjusted earnings before interest, taxes and depreciation ("EBITDA") were $163.7 million for the year ended December 31, 2009, compared to $200.5 million for full year 2008. Operating income for the year ended December 31, 2009 was $148.1 million compared to $174.6 million for the same period of 2008.
•Franchising revenues declined $45.6 million or 15% from $300.3 million for the year ended December 31, 2008 to $254.7 million for the same period of the current year. Total revenues declined $77.5 million or 12% to $564.2 million for the year ended December 31, 2009 compared to the same period of the prior year.
•Adjusted selling, general and administrative ("SG&A") costs for full year 2009 totaled $91.9 million which represented a 9% decline from the same period of the prior year. Adjusted SG&A costs exclude special items totaling $7.3 million and $17.7 million for the year ended December 31, 2009 and 2008, respectively.

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