DALLAS Hotel Reservations Network (HRN), an Internet provider of discount hotel accommodations, reported revenues of $100 million for the fourth quarter and $328 million for the year. For the 12 months ended December 31, 2000, HRN posted a 103% increase in net revenues over 1999.
HRN reported full year 2000 EBITDA of $52.6 million, an increase of 118% over pro forma EBITDA of $24.2 million in 1999. In addition, the company reported adjusted net income, which excludes the effect of certain non-cash expenses of $37.1 million for 2000, an increase of 135% over adjusted pro forma net income of $15.8 million for the full year of 1999. During the year, HRN signficantly expanded its business by adding over 2,600 new web affiliates, and also expanded its supply of hotel rooms in new and existing cities. (1/25/01)