PALM BEACH, FL Innkeepers USA Trust, a hotel REIT, is projecting that its fourth quarter and full-year 2000 earnings will be greater than guidance given in the companys third quarter 2000 press release. Jeffrey H. Fisher, CEO/president of Innkeepers, stated that RevPAR growth for the fourth quarter should be in the 8% range, which is higher than the company originally expected. Because of the increased RevPAR, Innkeepers is revising its FFO estimates for the fourth quarter and full-year 2000 and 2001, he said. At the end of the third quarter, Innkeepers estimated that FFO per share for the fourth quarter 2000 would be $0.39 to $0.40, with full-year 2000 FFO per share projected at $1.87, or 10% higher than full-year 1999. Based on RevPAR increases at its properties in October and November and its estimate for December, Innkeepers is raising its FFO estimates for the 2000 fourth quarter, full-year 2000 and 2001 to $0.43, $1.91 and $1.97, respectively. (12/5/00)
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