WestCoast Posts Year-End Results

SPOKANE, WA— WestCoast Hospitality Corp.— releasing figures encompassing WestCoast as well as Red Lion Hotels and Inns— reported pro forma earnings per share for the year ended Dec. 31 of $0.69 as compared to $0.45 in 2000. The integration of Red Lion was handled as if it had taken place Jan. 1, 2001. For the same period, it was reported that pro forma total revenue increased 61.9%, rising from $126 million in 2000 to $204 million in 2001. Additionally, during 2001, it was noted that pro forma EBITDA increased 14.5%, from $34 million in 2000 to $38.9 million in 2001. For the year ended Dec. 31, 2001, actual earnings per share were said to increase $0.14 over the year-earlier period, climbing from $0.45 in 2000 to $0.59 in 2001. For the same period, it was noted that total revenue decreased 4.1%, from $126 million in 2000 to $121 million in 2001. It was further contended EBITDA similarly decreased, reflecting an 11.2% drop from $34 million in 2000 to $30.2 million in 2001.