RALEIGH, NC Winston Hotels, a REIT, reported that for the first quarter 2001, FFO totaled $7 million as compared to $6.6 million for the first quarter 2000. On a per share basis, FFO for the quarter totaled $0.38 on 18.2 million weighted average shares outstanding compared to $0.36 on 18.2 million weighted average shares outstanding a year ago. Lease revenue totaled $9.7 million for both the first quarter of 2001 and 2000. The company met analysts expectations.
Winston also reported RevPar growth of 1.7% during the first quarter, which was slightly ahead of the 1% growth projected for the year. (5/10/01)