SPOKANE, WA WestCoast Hospitality Corp. has announced that third quarter earnings are expected to decline by approximately 10-to-15% versus the prior year, due to continued integration and re-branding costs, increased interest and provisions for tax rates, and the amortization of the WestCoast Hotels, Inc. acquisition.
The company expected to exceed third quarter 1999 earnings of $0.31, as the savings and revenue growth associated with the integration of the purchase of WestCoast Hotels, Inc. were to take hold. However, certain integration costs continue. During the quarter, the company also re-branded 13 of 19 Cavanaughs Hotels to the WestCoast brand and is expected to complete the re-branding process in the first quarter of 2001. (9/29/00)