IRVING, TX FelCor Lodging Trust reported that first quarter 2001 FFO totaled $71.4 million, or $1.07 per share, compared to the first quarter 2000 results of $68.5 million, or $1.00 per share, representing a 7% increase. The 2001 first quarter included a net gain of $1.7 million, or $0.03 per share, related to land condemnation proceeds originally forecasted to occur during the second quarter 2001.
FelCor is revising its RevPAR growth forecast for the second quarter and the second half of 2001 from flat to 2% to 3%, based on what is expected to be a continued challenging economic environment. RevPAR for 2001 had originally been forecasted to be 3% to 4%. (5/9/01)