RALEIGH, NC Winston Hotels, a REIT and owner of premium limited-service, high-end extended stay and full-service hotels, has reported FFO (Funds From Operations) of $6.5 million for both the fourth quarters of 2000 and 1999. On a per share basis, FFO for the fourth quarter of 2000 totaled $0.36 on 18.2 million weighted average shares outstanding compared to $0.36 on 18.1 million weighted average shares outstanding for the same quarter a year ago.
In 2000, the company announced three joint-venture development projects. Two of these hotels opened during 2000 and the third is currently under development and expected to open in July 2001. Winston owns a 49% interest in each joint venture. (2/1/01)