Choice Hotels CEO Patrick Pacious told CNBC that some areas of travel are starting to bounce back.
"I think what we are going to see is a return to travel that will be regional and sporadic," Pacious said on "." "It's what we're seeing today. The Southeast part of the country, where a lot of our hotels are located, did rebound sooner."
However, the number of customers has increased during recent weekends and it appears family and vacation travel will bounce back before business travel, Pacious said. to preserve cash during the pandemic. The company has suspended its stock buyback and dividends plans, cut executive pay and implemented a hiring freeze, among other measures. The stock is down roughly 30% this year.
large publicly traded companies from using the program after much of the money had already been approved.
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