MILWAUKEE The Marcus Corp. reported a decrease in EBITDA for the third quarter and nine months ended February 22, 2001. EBITDA was $14.005 million for the third quarter of fiscal 2001, compared to EBITDA of $15.14 million for the same period in the prior year. For the first nine months of fiscal 2001, EBITDA was $68.789 million compared to EBITDA of $69.373 million for the nine months of fiscal 2000.
The harsh winter in the Midwest, significantly higher gas and electric utility costs and a general softness in the economy impacted the results of both Baymont Inn & Suites and Marcus Hotels and Resorts, according to the company. Corporate-wide natural costs doubled and snow removal costs tripled compared to the third quarter of last year. Baymont s results were also negatively affected by significant one-time costs associated with the introduction of several new brand initiatives. (3/22/01)