ARLINGTON HEIGHTS, IL— Arlington Hospitality, Inc. released its earnings results for the second quarter ended June 30, showing an increase in income, revenue and RevPAR against the year-ago period. Net income was $234,068 or $0.05 per diluted share against $152,596 or $0.03 per diluted share in 2001. Revenues increased 21.7%, to $20.6 million in the second quarter from $17 million in 2001. Net income plus depreciation and amortization was up 26.1% to $1.6 million compared to $1.3 million during second-quarter 2001. For the six months ended June 30 the net loss was $523,684 compared to a net loss of $467,522 for first-half 2001. Thecompany also reported a gain from the sale of property and equipment of $327,076 compared to $590,445 during the first six months of 2001. Revenues increased 5.9%, to $38.6 million during 2002, from $36.4 million during 2001. Net income plus depreciation and amortization was up 22.4% to $2.2 million compared to $1.8 million during the first six months of 2001. Same room RevPAR for the quarter for all AmeriHost Inn hotels managed by the company increased 5.3%. Michael Holtz, president/CEO commented, “The significant 8.6% increase in same room occupancy achieved during the first half of 2002 was primarily the result of the increase in demand from leisure travelers. This increase was partially offset by a decrease of $1.93 in average daily rate. The objective is to maximize revenue opportunity, and our strategies to achieve this goal seem to be working. In fact, RevPAR for the overall hotel industry decreased 7.9%. Our hotel operations segment continues to show strong signs of improvement over 2001 as the gross operating profit for the same room AmeriHost Inn hotels increased by $1.2 million during the first six months of 2002, compared to 2001.”
