PITTSBURGH— Interstate Hotels Corp. reported a net loss of $3.1 million for in 4Q, compared to a net loss of $3.6 million for the same period last year, reflecting earnings per share of 55 cents compared to 54 cents, respectively. Earnings before interest, income tax expense and depreciation and amortization (EBITDA) were $2.6 million versus $3.2 million in 4Q 2000. Total company revenues decreased by $49.2 million to $10.6 million in the 4Q 2001 from $59.8 million for the same period in 2000 as a result of the conversion of the Equity Inns leases into management contracts on January 1, 2001. The lodging revenues related to the leased hotels that were recorded in 2000 are not reflected in the companys 2001 financial statements, as the company records revenues from management fees only. RevPAR for U.S. full-service hotels managed by the company decreased 31.4% for the quarter to $69.65 from $101.52 for the same period in 2000. RevPAR continued to be adversely impacted by economic conditions and the aftermath of the Sept. 11 terrorist attacks.
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