ATLANTA Suburban Lodges of America reported that in the fourth quarter of 2000, the companys total revenues grew approximately 14% to $18.7 million. Hotel revenue increased approximately 13%, and fee-based revenue increased approximately 21%.
The company managed fewer third-party hotels during the fourth quarter of 2000 than during the fourth quarter of 1999, resulting in reduced management fees, while franchise fees increased 40%.
Fourth quarter net income was $788,000, or $0.07 per share, in 2000 versus net income of $1,094,000, or $0.08 per share, in the prior year. (2/28/01)