WASHINGTON, D.C.— MeriStar Hospitality Corp. lowered its second-quarter outlook due to the slow U.S. economy and reduced business travel. The company said it expects funds from operation of $0.67 to $0.71, down from $0.80 to $0.84 forecast earlier. Analysts estimates ranged from $0.77 to $0.83, with an average of $0.81 a share, according to Thomson First Call. MeriStar, which will report second-quarter earnings in early August, still expects to increase its dividend to $0.25 a share for both the third and fourth quarter. SOURCE: Reuters
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