PALM BEACH, FL Innkeepers USA Trust, a hotel REIT, reported that funds from operations (FFO) for the 2000 fourth quarter ended December 31, 2000, rose 15% to $20.5 million from $17.9 million for the same period in 1999. FFO per share increased 16% to $0.44 per share, compared to $0.38 in the fourth quarter of 1999. EBITDA rose to $25.5 million from $22.8 million in the fourth quarter of 1999, an increase of 12%.
The increase in FFO was driven by an 8.6% increase in RevPAR to $80.88, compared to $74.49 for the company s 67 hotels open during the fourth quarter of 2000 and 1999. The RevPAR increase consisted of an increase in ADR of 6.7% and in occupancy of 1.8%. (1/30/01)