SPOKANE, WA— WestCoast Hospitality Corp. announced financial results for the three months ended June 30, 2001. During the quarter, earnings per share increased 132%, from $.15 in the second quarterof 2000, to $.35 during the 2001 comparable period. In the quarter, the company settled all insurance claims related to a fire in the company owned Lincoln building, which occurred in August 2000, resulting in a gain of $3.8 million, which is included in other income. Pro forma earnings per share excluding the one-time gain on insurance settlement was $.17, a 13% increase over prior year. Total revenues decreased 1.9% during the quarter from $33 million in 2000 to $32.4 million in 2001. The slight revenue decrease was the result of lower occupancy at some of the owned hotels but was offset with increased revenue entertainment and real estate lease income, the company said. Hotel room revenue at all owned, managed and franchised hotels increased 1.6% during the quarter, from $44.8 million in the second quarter of 2000, to $45.5 million in the comparable period of 2001.
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