PITTSBURGH Interstate Hotels Corp., an independent hotel management company, reported that for its fourth quarter ended December 31, 2000, the company experienced a net loss of $3.6 million, or $0.54 per share, on revenues of $59.8 million. The company also reported a $3.2 million loss in EBITDA.
During the fourth quarter, RevPAR for comparable U.S. full-service hotels managed by the company grew 5.9% to $97.62, ADR increased to $135.86 from $126.69, and occupancy rates declined slightly to 71.9% from 72.7%. For comparable leased hotels, which are primarily limited-service, ADR improved 3.1% to $78.38, while occupancy rates increased to 60.1% from 58.7%, which led to RevPAR of $47.11, a 5.5% increase over the same quarter in 1999. (2/22/01)