WASHINGTON, D.C. MeriStar Hotels & Resorts reported a wider-than-expected fourth quarter 2000 loss due to higher operating costs linked to energy, insurance, and other expenses.
The company s loss jumped to $.11 per diluted share from $.01 per share a year earlier. Analysts expected the company to report a loss of $.01, according to First Call/Thomson Financial. Revenues for the 2000 fourth quarter rose 11.7% to $342.1 million from $306.3 million last year.
Paul Whetsell, chairman/CEO of MeriStar attributed the losses to increased lease payments and higher operating costs, particularly for energy, insurance and guest loyalty programs. (2/23/01)
SOURCE: Reuters