Boykin Reports 2Q Financial Results

CLEVELAND— Boykin Lodging Company, a REIT, reported that for the three months ended June 30, 2001 funds from operations (FFO) were $12.9 million, or $0.70 per share, versus $14.1 million, or $0.76 per share, last year. Total revenues for the second quarter of 2001 were $18.6 million, compared with $19.2 million for the second quarter of 2000. REVPAR decreased 3.4% in the quarter to $66.63 from $68.95 last year. Occupancy during the second quarter of 2001 decreased to 68.5% from 71.2% in 2000, while the average daily rate increased to $97.29, compared to $96.82 last year. Net income for the 2001 second quarter was $1.2 million, or $0.07 per diluted share, compared to $0.2 million, or $0.01 per diluted share, for the same period in 2000.