GERMANTOWN, TN— Equity Inns, Inc.’s funds from operations for the first quarter will most likely exceed the REIT’s previous expectations and be in the range of 36 cents to 37 cents per diluted share. The previous forecast was for $0.31 to $0.33 per diluted share. Equity Inns also expects that its net income to common shareholders for the first quarter will be in the range of $0.07 to $0.09 per diluted share. The better-than-expected quarterly performance is primarily the result of higher than anticipated results from hotel operations, which were driven by higher ADRs, according to the companyl. Equity Inns is also now increasing its full-year 2007 FFO guidance to a range of $1.45 to $1.52 per share. It was previously forecast to be $1.40 to $1.48 per share. Equity Inns also is raising its 2007 full-year net income per diluted share to between $0.30 and $0.38 from the previous $0.25 to $0.33 range.
