ARLINGTON, VA— MeriStar Hospitality is attributing a reduction in its first quarter net losses versus last year and an increase in RevPAR to a period of “sustained recovery.” Net loss for the first quarter 2004 was $40 million compared to $70 million in first quarter 2003. Comparable revenue per available room for the company’s 73 core hotels rose 2.7% in first quarter 2004 to $73.70. Occupancy for the same period increased 1.4% to 67.4% and ADR increased 1.2% to $109.27. In addition, in first quarter 2004, the company sold 11 hotels with 2,497 rooms for total gross proceeds of $74 million. Two additional hotels with 371 rooms were sold to date in the second quarter for gross proceeds of $18 million.
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