DALLAS— Hotels.com reported higher fourth-quarter profit and said revenues rose sharply, beating the reduced forecast it offered last month, according to a Reuters report. Hotels.com, controlled by USA Interactive, reported a profit of $17.7 million, or $.30 per share, up from $4.8 million, or $.08 per share, in the year-earlier quarter. Excluding one-time items, Hotels.com posted profit of $.37 per share. Analysts, on average, expected $.38, according to Thomson First Call. Revenue rose 92% to $272.6 million. Last month, the Dallas-based company warned that fourth-quarter revenue would range from $270 million to $271 million, rather than its previous forecast of $283 million to $289 million. At the time, Wall Street expected about $293 million. Hotels.com said average daily room rates, or ADR, rose 2.5% to $117.93 in the quarter. Last month, it warned that a recovery in ADR had not materialized because of the sluggish economy and the threat of war. The company said room rates so far this year were slightly higher than levels in January 2002, although the company has forecast flat ADR for the year. “At this point in 2003, we are cautiously optimistic about the new year, although we are obviously keeping a careful eye on world events,” CEO David Litman said in a statement.
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